Hi Traders, thank you for watching my multi-timeframe analysis of this pair.
My trading strategy is based on the simplicity and core of the markets which is Buying and selling.
I'm trying to spot the next steps of the big players by using the Market profile, Volume and COT (commitment of traders)
The way I think about the markets is based on the fact that Market...
As you can see at the chart dollar was down from the start of 2020 at it will continue it's way until 88.11 maybe it would go lower than that united state of America in a situation that makes the dollar more weaker.
My view on the DXY is absolutely bearish. Nevertheless it does not mean that we can not push one last time to the upside. Therefore I marked both possible scenarios on the chart.
We are still in the Corrective/Continuation Pattern. After the break of the Support and the Trend Line I do expect that we are going to drop down
That was my Idea and I...
We are seeing a mid-probability bearish scenario as the price is going to retest 1st resistance at 94.15. Price could retest and reverse from there and could drop towards support at 93.81 and 93.50 where the horizontal overlap support is . EMA still indicates bearishness for price.
As long as the trade in oil does not pick up or if the price wont rise strong, the petrodollar is set to collapse.
The rsi is not oversold yet, It seems that the dxy will retest the 91 level soon.
The dollar heavily relies on the oil trade, as soon as this trade slows down a lot of dollar will come into the circulation and will cause the dxy to freefall.
#DXY #USDindex (Update)
Still Moving Below the Downtrend Trendline But Sitting on Support..!!
I'm Bullish on #USD & Expecting Trendline Upside Breakout In Coming Days (Maybe this Week)
Please like the idea for Support & Subscribe for More ideas like this and share your ideas and charts in Comments Section..!!
Thanks for Your Love & Support..!!
Hy Dear Team, hope you are are enjoying Good Profit By following Our Ideas and Prediction. If you have any query Ask in. Comment section.
Now today we are Going to Discuss about DXY.
DXY is at Strong Support level Now This Time. And Now we are just waiting for this Breakout than it will target Price level 96 or 96.
Hope you all can UnderStand where Price can...
Since the current week is the week of the US labor market data, let's talk about what is worth and what not to expect from Friday's statistics. Formally, yesterday's data from ADP tunes in a positive mood (+ 749K against the forecast of + 650K), but the real picture is somewhat different.
The jobless claims figures show that there are still many months (at best)...