Beginner Chart Patterns: Head & Shoulders, Double Tops and MoreWelcome to the world of chart patterns—the place where every price action tells a story. And if you read it right, you might just walk away with profits. In this Idea, we explore the immersive corner of technical analysis where chart patterns shape to potentially show you where the price is going. W
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
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
Elliott Waves: Dollar Index: 6 Sep, 2024 | The Bearish Market©Master of Elliott Waves: Hua (Shane) Cuong, CEWA-M.
The (v)-orange wave is unfolding to push lower, targeting the low of 99.487, while the price must remain below the high of 101.917 to maintain this view.
DXY Will Go Lower! Short!
Here is our detailed technical review for DXY.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 101.521.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a b
DXY Completes Bullish Harmonic Pattern Near 100.50DXY Completes Bullish Harmonic Pattern Near 100.50
The DXY has completed a bullish harmonic pattern near the 100.50 level.
The psychological price zone around 100 appears to be robust, especially considering the current upward price reaction in DXY.
On the daily chart, this marks the second harmo
DXY Short I'm expecting price to head back down to 100.553, previous day low point.
For buy, a strong 4hr candle must break and close above 101.372. Should price breaks above 101.372, my first target will be at 102.008.
DXYWe have a bunch of USD news on Wednesday that will greatly impact price movement.
MY BIAS:
Based on candle science, I see price expanding bullish to take out the high @ 101.402. Tentatively, price will maintain expansion till it takes out the high @ 101.918 before going bearish.
We wait to see
Let's look at the big picture! What's in store for the USD?Let's look at the big picture! What's in store for the dollar?
Let's analyze the expectations for tomorrow's Non-Farm Payrolls and Unemployment Data. We'll start with economic reasons and market reactions.
A strong downward trend in USD began at the start of last month. The primary driver was the
Daily Technical Analysis of Gold,Currencies,and Indices 9/9/2024Daily Technical Analysis for Gold, Currencies, and Indices - September 9, 2024
Introduction:
Greetings, everyone. This is Mohammed Qais Abdulghani, financial market expert, presenting the daily technical analysis for the major currency pairs, commodities, and indices for Monday, September 9, 20
DXY - Head and shoulders
Hello Traders !
After a huge bearish move,
The Dollar index retreated to the resistance level (101.770 - 102.075).
The price formed a head and shoulders pattern.
Currently, The neckline is broken🔥
So, I expect a bearish move📉
________________
TARGET: 101.000🎯
DeGRAM | DXY reached the retracement levelDXY is moving in a descending channel between trend lines.
The descending structure is preserved.
The price has reached the resistance level coinciding with the 38.2% retracement level.
The chart has reached the dynamic resistance and the upper boundary of the channel.
We expect a pullback after
See all ideas
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Frequently Asked Questions
The current value of U.S. Dollar Index is 101.669 USD — it has risen by 0.01% in the past 24 hours. Track the index more closely on the U.S. Dollar Index chart.
U.S. Dollar Index reached its highest quote on Feb 25, 1985 — 164.720 USD. See more data on the U.S. Dollar Index chart.
The lowest ever quote of U.S. Dollar Index is 70.698 USD. It was reached on Mar 17, 2008. See more data on the U.S. Dollar Index chart.
U.S. Dollar Index value has decreased by −0.02% in the past week, since last month it has shown a −1.44% decrease, and over the year it's decreased by −2.76%. Keep track of all changes on the U.S. Dollar Index chart.
U.S. Dollar Index is just a number that lets you track performance of the instruments comprising the index, so you can't invest in it directly. But you can buy U.S. Dollar Index futures or funds or invest in its components.