Analysis Week - 22 Apr 2024
Daily - Range / Bullish
Cloud (D) - Above Cloud
Weekly - Range / Bullish
Cloud (W) - Within Cloud
Mid Term - Range
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Reaching a Target Area Soon, Be Patient
Top-down analysis for Dollar Index.
Price action after US PMI report.
Important key levels.
Potential scenarios.
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In the current landscape, the Dollar Index (DXY) displays signs of a potential turnaround. Despite an unanticipated fall in retail sales, the DXY has managed a climb, posing a dichotomy against the backdrop of the economic narrative. Its advance within the bounds of a recently formed trading channel underscores the market’s complexity.
Technical Take:
The DXY...
The US dollar reached peaks that were never expected until a few years ago. Can the lost credibility of the world's major currencies return one day? The world will probably never be the same as it was before the Russo-Ukrainian war, but a fairer value for currencies does not seem out of reach in the long-term.
This is more than likely the first trade im going to take this week. Im looking for dollar to be bullish overall but I tend to trade what I see. Price has taken a previous daily high (Friday HOTD. Since that liquidity has been taken and price has moved away from it, we have started to form bearish structure. In a separate Idea I will highlight what areas of...
hello dear trader
I think the dollar will continue to fall after filling the gap... there is a strong resistance zone above it... harmonic pattern and resistance zone and fibos... on the other hand, due to the high bank interest rate and the possibility of a bank collapse Again.. the soft landing will begin soon
i think the yello area is the best place for open...
In our last analysis, the DXY TVC:DXY continued its upward movement. actually due to geopolitical crisis, the market was betting on stronger dollar.
We believe that this week is going to be calm and slow market.
we are still bullish on US dollar.
Our technical view has been shown in the chart.
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Pair : DXY Index
Description :
Impulse Correction
RSI - Divergence
Symmetrical Triangle
Break of Structure
Bullish Channel as an Corrective Pattern in Short Time Frame
The dollar index moved in a triangle pattern. Last week, the market tested his upper trendline. If the market tests the upper trendline then it is 106.500 level. Another thing is there is a resistance and supply area at 107.00 level. if the market does not respect the upper trendline then further move to 107.00 level and then reject.
The dollar continues to stabilize above 105.5, suggesting the dollar's price continues to strengthen amid rising political tensions. At the same time strengthen the dollar's position ahead of events.
As I've been saying, we really just need a breather after the huge runup in Bitcoin and the altcoins pre-halving and with 7 consequetive up months and Green candles.
So it's no surprise April is selling off, and the halving was a 'sell the news' event. It's good news, because all markets need to rest and re-gain their strength to push higher.
Watch the video...
DXy is printing the final leg(CD) of a bullish BUTTERFLY113 harmonic pattern.
The butterfly 113 pattern completes at 113XD which is around the (98.0-98.6)support zone.
On ltf DXY has some bearish run downside until the support zone is reached.
Here's the corrected version:
Last month, we anticipated that the #DXY price would continue to be bearish and take support liquidity from Mon 10 Jul '23. However, the fundamentals contradicted last month's analysis as the #DXY strengthened again after inflation rise and the Fed announced they would keep interest rates fixed until the next meeting. It's probable...
