Currently we are heading for a strong support (1.64910) line for a decent late entry sell. Recent chart pattern on 1 hr retest the support for a reversal. We see small consolidation on the 4hr chart around 1.64910 before retesting. We can confirm a snipe if 4hr candle closes below the support. If it retests we close short with profit and enter long.
The pair has been on a steady downtrend since October 9th which can be clearly analyzed on the daily and 2 hr chart preferably. AUD is set for negative forcecast while NZD has strong positive sentiment. I am mainly using the 2 hr chart for this setup correlating the daily for a trend continuation confirmation. On the 2 hr RSI is resting just above 50.00. You can...
Trade based off chart and technical indicator analysis. TP at horizontal line
Finding strong support at .6600. Depending how market open will confirm my trade. I will look for a retest of support unless sentiment says otherwise before entering long. NZD may be the strongest currency against the dollar next week and strongest in general. Look for longs with NZD
The dollar took a nice jump this week despite many speculations. The next week too may be a “vacation week” for traders pending the election. Due to dips in the stock market and the possibility of Trump being re-elected the dollar naturally was granted a safe haven. FOREX investors took advantage of trading the dollar and pushed for a last hooray before the show...
Lower low established earlier. Trade active TP at .69500 (Dismiss previous AUDUSD idea. Slacked and didn’t realize I was on 4 hr chart)
We found strong support. Sentiment and strength is strong for USD and CHF remains weak. TP at next resistance and retest.
We are at a strong support. Bulls may let the bears push through to 68.635 and retest. On the ladder they may try and take control now. Wait for trend continuation or break out of trend.
I noticed a distinct patter that if plays out may turn to medium long trend. I boxed the two patterns I believe are correlating. The colored arrows correlate the pattern development. If pattern is true it may ride that yellow arrow up yo the strong resistance. We shall see!
Here is my fundamental, technical, and news analysis of DXY . There are so many question remarks regarding the future of the US dollar forecasting a holding downtrend. I believe we will see the dollar drop to the September 1st low of 91.750. News Analysis Reports of the likely hood of the stimulus passing before the elections are slim. As a result volatility...