I would label the correction that has been occurring for the past two months as a running double three (W-X-Y) as depicted in the chart. The W wave is a zigzag and the "running" X wave that retraces beyond the W wave is a zigzag (abc) with the 'a' wave being an expanding leading diagonal as described in my previous post. I will label the correction that occurred...
The recent movements in the USD Dollar have caught the attention of investors and forex traders alike. As the USD Dollar retraces back to $104.5, there are several advantages for both stock investment and forex trading that can be capitalized upon. Let's explore them in point form with emojis:
Advantages of Stock Investment:
1. 💼 Diversification: Investing in...
Price action analysis for Dollar Index.
Important key levels.
Directional bias.
Predictions and forecast.
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The Dollar Index (DXY) is once again moving towards the critical level of 105. If it does not find support at this level, it could lead to a bearish trend on the daily timeframe. In this case, the stock market and Bitcoin would return to a bullish trend after a slight delay.
DXY have been making a falling wedge and we already had a breakout from the buyside during the fomc and completed target from the upside now the price has been creating new lows am expecting nice drop to 103.800 probably during NFP tomorrow......
Thats my DXY ANALYSIS EXPECTATIONS .............
time for a superscholar update:
SPX looking to be waiting to apply resistance test on the trend its just leaving and potentially send it lower confirming its downward momentum.
MMTH is showing signs of weakness foretelling a lot of companies are losing 200 SMA average advantage in sentiment
DXY seems to be flush with the bearish trend that doesnt have enough...
It takes a long time for the world reserve currency to die, but it is an eventuality. A "When" and not a "IF".
This analysis is based on my own bias reading using Elliott Waves, and also on a few other major issues:
1. The US debt of 34.2 Trillion.
2. The atrocities happening in the US and committed by the US worldwide (if you don't know what I am talking about,...
doubt this bubba has lefs expecting a reisting of breakout area followed by a loss of support resulting in a deviation
IF not then big hammer above is where we would likely have tonnes of liquidity and reverse there
above that God help us:)
Updating my TVC:DXY predictions:
1. Everything hinges on carry trade with Japan
2. Japan is raising rates until they resubmit to negative interest rates this summer
3. The USDJPY will plummet until summer, this will cause the dollar to go down which increases inflation in the USA and deflation everywhere else due to the dollar being a reserve currency.
4. I...
We are looking for a rally in price as we are trade around our 1H/4H Demand zone and we have a ranging market that is set to trick many of us to take early trades.
We have to waith for price to break out of this range to the upside for us to shorting positions on GOLD and Us100
Take a look at our analysis for DXY.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 106.329.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 104.242 level.
P.S
The term...
🏃♂️The DXY index is moving in the Ascending Channel and seems to have broken the 🔴 Heavy Resistance zone($105.88-$104.65) 🔴, and is currently moving in a small Descending Channel and making a pullback to this zone.
🌊According to the theory of Elliott waves , it seems that the DXY index has succeeded in completing the Zigzag correction(ABC/5-3-5) inside...
Always and at all times. All events will occur in the chart.
Trend Prediction - DXY Forecasting - Resistance and Support Lines
**** Yousef Sharafi ****
