DXY LONGSWe need to see that corrective pullback to show less intent for price to the downside. Then after price trends to the upside.Longby kayzie_blay6
DXY - Short Possibility?78.6 Confluence after price broke out of a bullish trend/channel and now has created a second top that is at the 61.8 of the last creating a bearish channel. Break and bar close below 105.488 has high probability to push downShortby BetterBusinessBully6
Levels discussed on livestream 13th June13th June DXY: Could retrace, needs to stay above 104.60. If price breaks above 105, could retest resistance at 105.45 NZDUSD: Sell 0.6150 SL 20 TP 50 AUDUSD: Sell 0.6635 SL 20 TP 55 USDJPY: Look for reaction at 158 resistance Buy 158.20 SL 30 TP 115 or Sell 157.80 SL 30 TP 125 GBPUSD: Retrace and reject resistance Sell 1.2810 SL 20 TP 55 EURUSD: Sell 1.0880 SL 20 TP 80 USDCHF: Sell 0.8935 SL 15 TP 40 USDCAD: No setup for now Gold: look for break of 2307 to trade lower to 2280 supportby JinDao_Tai5
[Off the Charts w Mysfft] CPI and US FED interest rate decision US CPI data and US Fed Interest rate decision both falling on the same day. (This only happens 13 times since 2008!!) Here, I look to share my thoughts on how the CME_MINI:ES1! (S&P index futures) along with the USD Dollar Index ( TVC:DXY ) can be expected to move in light of the 2 important economic news. This is just me sharing from a top down analysis along with multi-asset point of view. Will be happy to see your comments and know your thoughts. ps. MYSFFT stands for: Master yourself, flee from temptation. Just like in the world of trading, it's always about mastering ourselves and avoiding the FOMO, GREED, TRIGGER FINGER, REVENGE TRADES. Its to be a misfit in the world of trading and to be a game changer. Cheers! Trade safe and stay safe peeps.Long18:03by laughingchartist3
possibility of uptrend It is expected that the current upward trend will end at the specified resistance levels and we will see the beginning of the corrective trend. If the index crosses the resistance range, it will be possible to continue the upward trendLongby STPFOREX4
Bullish DXYMonthly: 1. Direction: Bullish 2. Reasons: 1. price took buy side LQ 2. A good Displacement 3. price coming for sell side LQ Weekly: 1. Direction: Bullish 2. Reasons: 1. price respected the weekly FVG 2. a good displacement Daily: 1. Direction: Bullish 2. Reasons: 1. good FVGs created. 2. Good displacement candle 3. BOS to the up side 4H: Doesn't look clean.Longby tradermebiali4
DXY - Setting up to ease offThe DXY completed a bearish 886 gartley and broke down out of its rising broadening wedge, after this it broke back below a key level of significance before confirming it as resistance this past week. As long as we stay below 105.3 the DXY is en route to lower prices, which in turn is bullish for the market. Shortby SynergyTradingSetupsUpdated 4
DxConfirmation ppi negative for dollar Down now This is not a financial adviceShortby jupitertradeUpdated 224
DXY Will Fall! Sell! Please, check our technical outlook for DXY. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 105.664. The above observations make me that the market will inevitably achieve 104.909 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!Shortby SignalProviderUpdated 113
Weak dollarI think the dollar will drop cause of the break of structure and retest Shortby Therealone4
Bullish DXY (Post FOMC Analysis 13th June)The DXY spiked higher from the 104.20 price level to 104.60 during the release of the FOMC interest rate decision and the press conference. The move higher has continued through the Asia session with the DXY now approaching the 105-round number level (around the 50% Fibonacci retracement level from the move yesterday) This bullish move in the DXY is likely due to the FOMC adopting a conservative undertone during the news release. Conservative due to - "We don't see ourselves as having the confidence that would warrant policy loosening at this time" - "We need further confidence, more good inflation readings but won't be specific about how many to start rate cuts" - Indicating the potential of only 1 rate cut decision to come for the 2nd half of the year - "Rate cuts that might have taken place this year, take place next year" If the economy progresses along its current path, the FOMC dot plot suggests that terminal rates for 2024 is likely to be 5.1%. Adopting a conservative stance on rates for 2024 (which could be offset by a more aggressive rate decision in 2025, 4 cuts expected) is bullish for the DXY as it indicates that rates could remain high for longer. Look for the DXY to continue climbing to the upside, toward the immediate resistance level of 105.60 (which coincides with the 61.8% Fibonacci retracement level from the longer term) Beyond 105.60, the DXY could retest the high from April at 106.40 Longby JinDao_Tai3
$DXYgoing back down to test that pesky support then 3rd attempt at losing the 200 ema IF we go back above yellow line then supply zone above will slap it back down imo Shortby CompoundingGainUpdated 7
Levels discussed during livestream 11th June11th June DXY: retraced and consolidating, looking to trade higher towards 105.60 resistance. NZDUSD: Sell 0.6115 SL 25 TP 35 AUDUSD: Looking for a reaction at 0.6570 USDJPY: Consolidating, Buy 157.50 SL 20 TP 45 (quick trade) GBPUSD: Sell 1.2680 SL 20 TP 35 EURUSD: Sell 1.0720 SL 20 TP 45 USDCHF: Look for reaction at 0.9012 resistance USDCAD: Buy 1.3790 SL 20 TP 50 Gold: Needs to stay below 2315 for bearish downside continuation, strong support at 2280, looking for a bounceby JinDao_Tai4
DXY MARKET FORCAST ON MONDAYOn the 1-hour time frame, the DXY is ranging between 105.505 and 105.774. If the market breaks below 105.505, we anticipate buying opportunities in the gold market. Conversely, if it breaks above 105.774, we expect selling opportunities in the gold market. This is my current perspective on the DXY. From these key levels, the market has been respecting. Last week, the DXY formed an inverse head and shoulders pattern, followed by an impulsive move. Currently, it might be forming a correction or a bullish flag. We will wait to see which direction it breaks before pursuing opportunities in the gold, GBP/USD, and EUR/USD markets.by hesbonndubi04
ST DXY bearish BiasNot really motivated to explain, look at my analysis, use your own judgement and discretion, my analysis are only purposed to encourage your personal bias, best of luck.Shortby PepeJTheTrader2
Dxy "Analyzing Recent Events and the U.S. Election's Impacts"In this analysis, we explore the recent performance of the U.S. Dollar Index (DXY) and its potential trajectory across various timeframes. Against the backdrop of recent market events, including the U.S. presidential election, we aim to uncover insights into potential trends and pivotal levels shaping the index's movement. Impact of Recent Events, Including the U.S. Election 🗳️ The outcome of the recent U.S. presidential election has had a notable impact on financial markets, particularly on the U.S. Dollar Index. The election results, along with broader geopolitical developments and economic indicators, have influenced market sentiment and expectations regarding future fiscal and monetary policies. Understanding the implications of these events is crucial in assessing the direction of the U.S. Dollar Index in the coming weeks and months. Impact of Last Week's NFP News 📊 Last week's Non-Farm Payrolls (NFP) report significantly influenced market dynamics, particularly impacting the U.S. Dollar Index. The report revealed robust job growth, surpassing market expectations. This fueled speculation about the Federal Reserve's monetary policy outlook, potentially leading to further tightening measures. Consequently, the dollar experienced heightened buying pressure, resulting in a breakout from its previous consolidation range. Weekly Timeframe Analysis 📈 On the weekly timeframe, following a pivotal test of the key support level at 104, a pin bar candle emerged, signaling the potential initiation of a fresh bullish trend. Daily Timeframe Analysis 📅 In the daily timeframe, following a 52-day consolidation, a strong candle with all the characteristics of a breakout (full body and no shadows) breached the trendline. Confirmation of the continuation of this move would occur if today's candle closes above 105.124. Considering the potential fakeout of the yellow trendline and the support near the key level of 104, there is a possibility of further continuation of this move towards 106.38. 4-Hour Timeframe Analysis ⏲️ The recent trend, catalyzed by last week's news, initiated a breakout on the 4-hour timeframe. With the Relative Strength Index (RSI) entering the overbought zone, the potential for continued upward momentum towards the 105.559 level is evident. However, a re-entry into the consolidation range with a strong candle may indicate a false breakout, potentially leading to a reversal towards the lower bounds. Main Support and Resistance Levels: Support: 104 📉 Resistance: 106.4 📈 Note: This analysis is for informational purposes only and should not be considered financial advice."Longby pouoyannn116
Levels discussed on Livestream 10th June10th June DXY: Consolidating at 105.30, could retrace slightly, looking for a continuation higher to 105.60 resistance NZDUSD: Test and reject 0.6140, Sell 0.6130 SL 20 TP 50 AUDUSD: Sell 0.6585 SL 20 TP 65 USDJPY: Complete retrace, Buy 156.75 SL 30 TP 65 GBPUSD: Sell 1.2745 SL 20 TP 60 EURUSD: Look for reaction at 1.0720 USDCHF: Buy 0.9030 SL 30 TP 70 USDCAD: Buy 1.3790 SL 20 TP 50 Gold: Needs to stay below 2315 for bearish downside continuation, strong support at 2280by JinDao_Tai227
DXY idea The US dollar index continues its recent move higher, aided by a weaker Euro and Japanese Yen. The Euro is still feeling the effects of last weekend’s European Parliamentary Elections and expectations of further rate cuts this year, while the Japanese Yen moved lower after the Bank of Japan said that it would pare back its bond-buying program but the market would have to wait until the July 31st meeting for any details. The Euro (58%) and the Japanese Yen (13.6%) are the two largest constituents of the six-currency index.by EZIO-FX2
Dollar is going to soar for awhile nowGet ready, commodities will cave and so might the market. Look to my other threads for more elaboration. I'll continue my Dollar thoughts in this thread going forward after that change in dynamic after the FED meeting.Longby EmptyEternityUpdated 3
Dollar Index to Reach and Break its Sept 2022 HighDollar index weekly chart still looks incredibly bullish long-term. First, we have a basic falling wedge pattern with targets at 1x and 1.5x measured moves up from the breakout of its wedge. As confluence, I've drawn an trend-based fib extension from the Sept 2022 High -> July 2023 low -> October 2023's high from the wedge break (inverted). Items of Note: Very strong Wedge break back in August - October of 2023 Very weak re-test attempt in December of 2023, making a higher low than the July 2023 low that led into the breakout, only wicked down to top of a long-term support level; failing to close at or below. Falling Wedge's measured targets TP 1 and 2 line up precisely with its 0.382 and 0.786 fibs from its trend-based fib. For TP 1 Present resistance to a move up is the ~106-108 area around the last two sets of weekly highs from Oct 23' and those made last month, or the 0% fib on the chart at 107.348. Once we get above that we should see it head towards TP 1 and the Sept-Oct 2022 highs. For TP 2 The final test will be breaking above TP 1 and the 50% fib (September 2022 high) before making a new high around TP 2. Beyond TP 1 and 2 I expect it will continue above both targets once they've been reached, even with a decent possibility of seeing 1980s ATHs. Links to earlier / related ideas below. Longby dudebruhwhoaUpdated 3
DXY - Daily start of bullish legThe Dollar Index (DXY) has experienced two significant bullish legs followed by pullbacks. Currently, it is at the end of the most recent pullback. Notably, the falling momentum appears to be weakening, as evidenced by the shorter and less intense downward legs during the pullback phases. This weakening momentum suggests that the bearish pressure may be subsiding, and the DXY could be preparing for another upward movement. As illustrated on the chart, the previous pullbacks were marked by substantial declines. However, the current pullback is characterized by weaker downward legs, indicating a potential shift in market sentiment. This could lead to the DXY resuming its bullish trend if it manages to break above the recent resistance levels. Traders should closely monitor the price action for confirmation of a reversal, which would be supported by stronger bullish legs and the continuation of the uptrend.Longby Sober_TradingUpdated 2218
DXY Federal Reserve dayOn Federal Reserve day, be cautious of severe fluctuations. We are very close to reaching 105.400, and from this point, we can sell the dollar in the medium term, and from 105.700 in the long term. The current inflation rate is 3.4%, which is expected to be 3.4%, and in my personal opinion, I expect inflation to drop to 3.2%. With the release of the news, I see the dollar index rising to the specified area on the chart, which is 105.700, and then starting to decline with the interest rate decision and Jerome Powell's press conference. Be cautious as the market does not react immediately to trends on such days. Pay attention to the classical school and integrate it with advanced schools like ICT, and enter with capital management without taking risks. In my personal opinion, trading during the time when the Fed Chair speaks is not a good idea and is a form of gambling. You should look for key points and weaknesses and start your trading with a well-studied plan without rushing. You should know that the market takes direction after a few days or at the beginning of the new week. Any talk or indication of timing the reduction of interest rates will be negative for the US dollar. #Hezha_Ravandi Good luck.by Hejaaa2