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...
Monthly: In the monthly Price has been break the monthly BPR, so now the target it to go towards the M-BSL(107.354)
Monthly Bias: Bullish
Daily: The price has been brake the M-BPR, with a clear bulish D-MSS, along with D-FVG, so the momentum of the price is bulish, now the price has been taken the D-FVG+ so we will anticipate the price will go upward to wards...
Probably found a floor. Confirmation in the next few weeks.
futures still expecting 6 cuts in 2024 revised down from 8 cuts a month ago. Lol
Middle east escalation likely. Shipping crisis
Strong labor and stonk market gives leeway for fed to be hawkish.
Debt crisis' cooking around the world. USD remains more in demand than ever.
Everyone is once again...
Take a look at our analysis for DXY.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 106.278.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 107.464 level.
P.S
Overbought describes a...
TVC:DXY has formed a Quasimodo pattern that is near completion of its right shoulder.
Once it crosses ~105.9, expect it to continue up towards ~112.5 and then ~116.
This is the scenario I expect will occur, and I am hopeful that it will take as long as I've drawn but it could occur much more rapidly.
The longer it takes, the better chance we see extended...
There are many facets to dictating near term direction on dxy. Using larger time frame weeklies, the low of week was 6 nov retest weekly topside. A near term correction from a rejection wick at 106.5 made some sense and a scalp in the opposite direction performed well. The objective was to form a new weekly low. looking at the reaction of the red week top from...
Possible Head and Shoulder play, in daily OB and CME tapped as head. Strong move down with respect of FVG. Forming possible Right shoulder
Aggressive entry:
Possible Right Shoulder forming at Resistance, OTE, respecting bearish FVG.
First TP at neckline
Safer entry:
Wait for retest of neckline for confirmation to enter more safe trade, but watch out for FVG...
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...
1. Massive H&S on DXY Daily.
2. I believe DXY like oil will now resume it's macro downtrend.
3. Exact same pattern on the USOIL is forming.
4. 95-97 is the target for the last and most exciting stage of the bull market.
5. Risk on.
6. Alts in particular will do very well post halving.
After reaching its important price range, the Dollar Index experienced a downward movement. It seems that after a retest of the price range of 105.86 - 106, it will start its downward movement towards 105.1.
As mentioned in my previous analysis on EURUSD, what I was looking for came to pass. The large swing move did not occur yet, so i'm anticipating one more spike up higher before we head to the downside.
I have a few things leaning towards my short bias:
1. Seasonal tendency for the USD is stronger. This is suspect for XXXUSD pairs to be going up.
2. May's...
The trend line has been tested but not crossed, we have set this as a buy zone, if it breaks out all we will do is
I mentioned this region in the update of the analysis I shared this morning. You can see it in the quote. I'm still looking for shorts on the EUR pair.
DXY has broken out of its range and currently heading towards the 108's.
From a HTF perspective we are still trading within a range. Nothing new...nothing shinier we are still within the same previous HTF range.
IF we hold these current levels we should expect a higher DXY and lower indices, crypto and stocks.
IF we fail to hold these current highs expect...
