DXY making a nice slightly expanding bearish pennant. May make one more push for the top of the channel. Watch for the breakout..
USDJPY POSSIBLE BULLISH SETUP to 110, 1st wave consolidation Initial SL level: 100.678
What we have is a monthly chart showing an inverse head and shoulder formation under progress. We could go lower from here to 90.00-89.00 levels if the US data continues to disappoint. However, what dollar bulls would want is a rebound from 90.00 and 89.00 as that would increase the odds of completion of inverse head and shoulder pattern. This is a kind of...
Shocker NFP has again messed up many calculations. Unpredictability and possibility of huge reaction afterwards makes it really difficult to trade such data points before the release. That's the reason we keep the strategy on hand but never place orders until picture is clear, unless it is far end of extreme price action. Short dollar trade, which was very...
$USD is long and probably one can hold for few years if the dark green line doesn't breach. And sell when the historical red resistance line hits.
USDOLLAR Long DXY Long on retracement. Finishing C wave. for new impulse up. #elliotwave #forex #dollarindex #foreignexchange #usdollar #dxy
Possible hit to wear Feds may Push rates? Trade wisely the week !
DXY has broken an 'inside trendline', which had capped the rallies so far, and the yearly SMA, after confirming an uptrend continuation setup, generated after the Brexit rally. We can safely long with stops under say today's low. If you're already in, adding to longs (not needed to trail stops) is a good idea. See the related ideas for more information. If you...
US Dollar Index is forming a Flat Pattern.. One can go long on USD once the breakout happens for a target of 12150. Happy Trading!! Siraj Hudda, CFTe Web: www.prowaveanalysis.com Skype: sirajhudda Email: contactus@prowaveanalysis.com Facebook: www.facebook.com Twitter: twitter.com LinkedIn: in.linkedin.com
Initial support is seen at 95.95 – 95.75 followed by lower support at 95.0 – 94.75. A bullish follow through above the first support with a breakout above 96.55 which marks the bull flag’s high could signal a longer term rally that could see 97.45 followed by 98.55 levels being marked as the minimum price objective here. The bullish view could, however, turn...
1. SPX 500 is making new highs as expected earlier, but this is not sustainable, if Central Banks will not give a rate cut or further QE then markets will undo all the gains. 2. My Sell patterns have started to show up in the charts. 3. SPX is making third mountain in weekly charts. 4. Crude is looking to go around $40 and Below. 5. Volume is not showing any...
The trade weighted dollar index shows a very healthy quarterly rally here. We've now retested the yearly resistance from the previous downtrend, after breaking above it, and it acted as support so it's clear to me bulls are in control. Once we break the previous quarter high, odds of the uptrend resuming will increase, and will be fully confirmed after a 3.70%...
This week the dollar looks to have finished an ABCDE Correction, Looking to make another impulse up next week.
1. IMO Dudley tipped to the dovish side, especially on key inflation highlighting that it is " rising again, but still low". Other rhetoric reaffirmed much of what has been said post the brexit vote e.g. Uncertainty being the biggest factor. 2. Meanwhile, Williams was notably more upbeat/ optimistic, shrugging off the US's shock miss NFP report to instead...
US Dollar 15m Long DXY Long We have just completed an ABC -and retest of the trendline for more upside next week. The 0-2 might be an ABC correction, either way, the trajectory still looks long for a few days next week.
DXY - Long on 4HR/Daily Chart to the 1.618 break and retest of trendline as part of bullish elliot wave pattern