Could be looking at a follow through reversal on USD...
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Hello Traders!
Here is a model I learned from reading Larry Williams Long-term secrets to short-term trading (2nd edition).
Let's see if a sell signal sets up.
-After last week NFP data and recent CPI data has weaken DXY, however, we are expecting a smooth reversal at our area.
-The fear in the market has led DXY suffer heavily.
As the Fed continues their Quantitative tightening within This economy it is expected for the Dollar to rally in times of economic turmoil and uncertainty.
God Speed.
Fundamental analysis:
The United States federal government is taking steps to secure the stability of the inflation rate by agreeing to raise interest rates in response to the decrease in inflation observed in recent months. This has led to a substantial increase in the growth index of non-agricultural employment, which bodes well for the growth of the country's...
DXY looks like it finally finished it's correction down, after pulling a beautiful engulfing on the weekly TF,
The engulfing sits on 4 major points of interest:
1) Retest of the 102 high from march 2020
2) Bouncing off the 50% Fib retracement from uptrend that started in may 2021
3) False breakout of Trendline (watch confirmation with reintegration above the...
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DXY had very strong and powerful breaks out hard from a falling wedge which is very bullish. Pretty soon DXY will meet with a resistance level that could act as resistance and that is 50 days MA and a rising trend line which was supported from summer 2021 till a few weeks ago. On another side, it breaks 20 days MA so it could boost the price. After the report for...
With confetti flying and champagne corks popping, Wall Street yesterday closed out its most lucrative year ever. For traders and dealers, 1980 was also a year that required quick reactions, steady nerves and strong stomachs. Extreme volatility and high volume were the hallmarks of the financial markets and, judged in those terms, it was a year unlike any...
The US Dollar Index has produced a bullish engulfing candle on the weekly timeframe after failing to break down the weekly resistance level at 101.50.
On the daily timeframe, there is a breakout of the falling wedge pattern with a positive divergence on the MACD indicator.
The price still has three more resistance levels to overcome before it can be considered a...
After last week played out perfectly with the news manipulation, the big upside impulse on NFP friday makes the following weeks very interesting with clean price action in sights, the green zone around 102 would be a nice low for the week to then continue the upside movement to the weekly FVG it is currently in, maybe have a bit of a battle at the top of that...
