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About U.S. Dollar Index
The U.S. Dollar Index tracks the strength of the dollar against a basket of major currencies. DXY was originally developed by the U.S. Federal Reserve in 1973 to provide an external bilateral trade-weighted average value of the U.S. dollar against global currencies. U.S. Dollar Index goes up when the U.S. dollar gains "strength" (value), compared to other currencies. The following six currencies are used to calculate the index:
Euro (EUR) 57.6% weight
Japanese yen (JPY) 13.6% weight
Pound sterling (GBP) 11.9% weight
Canadian dollar (CAD) 9.1% weight
Swedish krona (SEK) 4.2% weight
Swiss franc (CHF) 3.6% weight
DXY Time to start selling it. Long-term top is near.We had a good break-out buy signal on the U.S. Dollar Index (DXY) on our last trade ten days ago (see chart below) and despite not having hit our original target, we decide to close the long position:
The reason is that it has reached the Lower Highs 1 trend-line, the first out of two Resistanc
XAUUSD BUY PROJECTION 28.05.23Reson Behind XAUUSD/GOLD Bullish
1. Tecnically Obey Strong Suport @ 1920-1925
2. Retrace the Paralle Trendline and Make Contination in Trend
3. Formation of Double Bottom Make teh pair to Make Higher High
Fundamental DXY Analysis
Marlet clearly Breaked Resistance and trend line and Moving over
DXY New Week Possible MovePair : DXY Index
Description :
Bullish Channel as an Correction in STF
Fibonacci Level - 78.60%
Break of Structure
S / R Level
RSI - Divergence
Bearish Channel in LTF
If it is going to turn, Now would be a good time.The media is massively FUDDING the USD.
I do not believe this is a coincidence that we experience this at such a critical perhaps turning point double bottom on the DXY.
Its hard to hold dollars right now, They've been crushed for awhile, and assets have been going up.
I am suggesting this ends
One more before bedtime USDJPYOANDA:USDJPY
2nd trade for short entry
10 pip hard TP
DXY correlation.
DXY-SELL strategyThe GANN angle seems a bit steep, and for that reason, plus the overbought state, we should be on SELL strategy now I feel.
We have room to correct on 4-hourly chart till 103.20 area.
Strategy SELL @ 104.20-104.50 and take profit @ 103.35 and stop-loss @ 105.47 for now.
DXY : What I think might happenThe chart above explains.
This chart is best read together with the earlier one I posted on EURUSD.
Good luck.
P/S : Do not just believe what I say. Use your common sense.
DXY Weekly Forecast | 29th May 2023Fundamental Backdrop
The CB Consumer Confidence, JOLTS Job Openings, Non-Farm Employment Change are expected to drop.
The Unemployment Rate is also expected to increase.
These news events will cause the DXY to weaken.
Technical Confluences
Near-term resistance level at 104.800
Near-t
See all ideas
This info isn't a recommendation for what you should personally do, so please don't take the data as investment advice. As with any trade, always look first, then leap. Read more in the Terms of Use.
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