Exactly 1 month ago we made a bearish call on the U.S. Dollar Index (DXY) after the 1D RSI printed a series of Lower Highs, showcasing a Bearish Divergence: Target 1 (103.650) has been hit as the price touched the Pivot trend-line of the 11 month Megaphone pattern. We are moving Target 2 higher at 102.500, which is still near the 3.0 Fibonacci extension (the...
Here is my latest structure analysis for USDCAD. Vertical Structures Vertical Support 1: Rising trend line Vertical Support 2: Rising trend line Horizontal Structures Support 1: 1.3630 - 1.3655 area Support 2: 1.3567 - 1.3610 area Resistance 1: 1.3808 - 1.3854 area Resistance 2: 1.3875 - 1.3900 area Consider these structures for pullback/breakout...
✅DXY has been falling for a While now but has almost Reached a horizontal support Level of 103.00 and as it is Oversold at the moment I will be expecting A local move up LONG🚀 ✅Like and subscribe to never miss a new idea!✅
– Previous Daily candle closed Bearish around 1989.900 forming Daily Resistance at 1998.600 as price failed to break above Weekly Resistance formed on 30th October 2023. – Buys on close above 1922.800 targeting Daily Resistance around 1998.600, Leaving Runners to the 1h Resistance formed around 2003.800. – Sells on close below 1985.400 targeting 4h previous...
The dollar index has been in a downward trend for a long time and has reached its important support. There are two important resistances ahead that, in my opinion, it can break through and go up to fill its GAP.
The dollar index has experienced a rebound, surpassing the 103.00 threshold. When examining currency pairs such as GBPUSD, AUDUSD, and EURUSD, it becomes evident that there is further potential for movement within the frameworks we are monitoring. This suggests the likelihood of DXY breaching the 103.000 support level, setting the stage for extended targets in the...
USDCHF violated a key daily horizontal demand zone. The market is trading below the broken structure for several days. Analysing key levels, the next strong support that I see is 0.878. It will most likely be the next goal for the sellers. ❤️Please, support my work with like, thank you!❤️
– Previous Daily candle closed strong Bullish around 1998.700 forming strong Daily Support around 1977.600. – Buys on close above 2005.500 targeting 4h Resistance formed on 16th May 2023 around 2012.300, Leaving Runners to the Weekly Resistance formed around 2017.300. – Sells on close below 1996.000 targeting 4h previous Resistance around 1991.900, Leaving Runners...
Expecting a pull back on this initial touch of 105.8 Ideal scenario is that DXY breaks 106 late in the year to peak around $110. This would support alternative market scenarios. B, HF
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Hey Traders, in this week we are monitoring DXY for a selling opportunity around 104.500 zone, DXY is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 104.500 support and resistance area. Trade safe, Joe.
I think DXY will raise to 104 - 104.5. There is a great +RD and dollar is on the value area.
I am waiting to buy oil in the value area ( 73 - 75 )
It seems that the market thinks the Fed is going to reduce the interest rate in 2024, but fed never say that we are going to do that. Furthermore, the DXY is near support area with a +RD. I believe there will be a correction in Nasdaq.
After predicting the Yearly High for DXY , im focused on getting this pullback and have another full rotation of this current range. Keeping things as simple as possible for the dollar , No need of complications
DXY D1 The dollar index has displayed robust corrective movements in recent weeks, buoyed by a diverse set of supporting data points. The 103.000 handle emerges as a pivotal support zone, potentially paving the way for a substantial rebound in the USD. It remains to be seen how events will unfold. Examining the market from its swing low to swing high, a...
AUDUSD D1 AUDUSD has gracefully hovered within the 0.63 to 0.65 range, a trend that persisted until the recent breakout spurred by the dollar's softening. The 0.65 handle encountered a noteworthy rejection, mirroring the resistance observed at cable 1.25. In light of these developments, a straightforward break-and-retest scenario cold unfold, suggesting the...
Dollar Index broke and closed below a key horizontal daily support this week. After the violation, the price was coiling for some time within a narrow horizontal range on a 4H time frame. The release of US housing data on Friday was very bearish for the Greenback. The price violated a support of the range, giving us a strong intraday confirmation. We may...