The black line at around 96.72 mercilessly rejected the Dollar on 6/24/2016. Watch the lines for setting up short positions.
DXY is in a daily correction move after an upward impulse, but on the lower timeframes after a sharp down movement, it is correcting and we have MACD divergence. Im waiting for it to break to the downside touching at least the recent lows at the 61.8 fib level before going up again.
My view on USDOLLAR, we will see after referendum if it really wants to go down.
Looks like dollar is going to take back short term losses. 0.618 common Fibonacci level + Ending diagonal = mighty mixture
This 2-part article will look at the practical application of correlations in trading and show how to use correlation inferences to exploit the statistical advantages they offer. On the 4h time frame, the highest day-tradable timeframe imo we see EUR$ has an exclusively negative and almost 1for1 correlation with the dollar index (or dollar "market"), however,...
This could break the range of 95.5 -92.5 Dips toward 90 or 88. RSI is falling Keep watching.
DXY's failure to sustain above falling trend line resistance amid horrible NFP data and resulting drop in the 2-yr treasury yield and CME July Fed rate hike bets indicates the index could test 93.497 (23.6% of 2008 low-2015 high) next week. Daily RSI is bearish as well. On the higher side, a break above falling trend line on day end closing basis would...
Resistance – 95.50, 95.75, 96.15 Support – 95.20-95.15, 94.94, 94.65 DXY’s move back above daily 5-MA followed by a break above 95.33 levels amid bullish daily RSI indicates the index could be heading higher to 95.75 levels, which is a falling trend line resistance on the daily chart. A day end closing above 95.75 would expose 96.16 levels (monthly...
Plenty of idiots are still long this ratio at this level. Watch the lines. Being short this ratio has much more upside than being long this ratio at this point.
Well... at least the downside risk is obvious. The price action around the trendline will be interesting
Near 105 $USDJPY will complete a daily bullish AB=CD pattern. As you can see above, the equal distance legs reach just above 105 and the Fib confluence zone that forms the PRZ is right near 105. Perfect PRZ for a daily AB=CD pattern right on top of the 200 weeks MA 107.5 (previous low) is the first target zone you should set if you wish to trade this potential...
Dollar index is back above 23.6% Fibo of Apr 2008 low-Dec 2015 rally. The hourly chart shows a breach of minor rising trend line, but also note a possible bullish crossover between 50-MA and 200-MA on hourly. But remember, we have non-farm payrolls due for release along with wage growth figures. Dollar revival would require scenario 1 as discussed here ...
Talking Points: GBPUSD Technical Strategy: Keeping Bearish view Elliottwave Count: ZigZag Correction will be our primary choice in count GBPUSD Start showing divergence on daily bearish trenline and 240min newly created bullish trendline. Current level 1.4650-1.4700 is 100% expansion of zigzag and also testing horizontal resistance. Long term trend...
Dollar index a bearish monthly close on Friday as it closed below 93.50, which is 23.6% fibonacci retracement level of rally seen from April 2008 low to Dec 2015 high. A look at monthly chart shows - Bearish 5-MA and 10-DMA monthly chart with a bearish close below 93.50 indicates bears in control and may be able to push the index down to 89.16 levels...