Overview of my DXY sell idea. I have been following this for a longtime but i've decided to share it. Technically my chart explains itself, but fundamentally the US economy is in a very bad shape, increased government borrowing and on the brink of a debt default, inflation, war, all this is affecting the US which hasn't fully recovered from the coronavirus...
Here's a look at DXY US DOLLAR INDEX on a 12 month chart. This year, it's the second time it signalled a big shift on the upper histogram, last time it did was 2021. Is this the start of the big fall for the USD.
This may last for a few years -- worse a decade.
Again it may or it may not happen, but the 12-month chart doesn't change mind often. I guess we'll see..
Price is currently bouncing on the 50 and 200 ema after a golden cross happened some time ago.
However the price ended last day on a bear closing below the low of the previous candle.
Expectation is next daily should atleast tap the low of the latest candle before we can have a prediction where it goes next.
Meaning dollar may still go lower before it bounces...
With the possible holding rate for USD, and poor nfp data, seems like USD is taking a turn....
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Sometimes, price has pride! Last week, with the quarterly shift sentiment in check lower pricing was anticipated in the DXY and such as been the case in the just concluded trading week. Though lower pricing was anticipated but I fashioned out what I termed as a TWIN BIAS for the concluded week and the same is what came to play as price offerred ampled transaction...
My opinion on DXY bearish for a will and pullback to bullish, so gold can find short. This setup trading idea is for intraday. >> TAYOR
I'm just giving an idea, it's up to you to follow.
*After this I will post trading idea 2 Forex, 2 Stock, 1 Crypto, 1 Gold, 1 DXY, 1 Rare Pair Forex
The US dollar appears vulnerable to further declines, given the data suggesting an economic slowdown, possibly even a mild recession. This could potentially drive the EUR/USD exchange rate towards the range of 1.15 to 1.23, with the outcome depending on the performance of the European Union in comparison to other major economies such as Japan and the United...
Let's look at the whole history of DXY. We can draw a huge descending channel here. For the last 5 years we have been moving in a triangle. Now we've broken out of it. Which is a strong bullish signal. We will probably go test the upper trend line of the huge channel for about 135 points. If this channel is broken in the future, it can go up to 270 points. That...
Hey team hope you all are enjoying our ideas and analysis. Now we are here to discuss about DXY. DXY has breaked the main Rising Wedge Pattern and now this is dropping gradually. It has maximum Chances we can see price around 102 in this drop.
When market will open we will update further with Proper Chart TP and SL
DXY's price has been in consolidation for an extended duration. However, it's worth noting that there are still some unfulfilled FVG('s), suggesting the potential for the price to move towards these specific FVG's.
Price could first gravitate towards the lower UNbalanced FVG, daily, before reaching the higher objectives.
It turned out that we got very bad NFP release, yesterday.
Dollar Index immediately reacted, and the market formed a huge bearish candle on a daily.
With one single candle, the Index successful broken a support of a wide horizontal range.
It is a sign of a confirmed bearish reversal.
The index will most likely drop to 104.5 support soon.
❤️Please, support...
Price is starting to show clues or reversal. Lows are being broken and up close candles are being respected. Price could continue to move down to fill the monthly bullish fair value gap
In my previous post on DXY ,i mentioned how i expected it to move up a tiny bit in wave c of Z before starting to tumble. Well, from the fresh piece of evidence available it seems like that the expected tiny bounce failed which in Elliot wave terms means that wave Z has truncated.
That also means that the first leg to the expected downfall towards 93-94$ mark is...
