We predicted the recent dollar index decline almost about a month ago (see chart below). There could be some pullbacks later, but ultimately the index would likely go further down. It could touch 91.30 - 93.60 in a couple of months...
US Dollar Index is forming a rising wedge on the daily timeframe. If the swing high at 99.37 is violated, then the index still have further upside potential to hit the upper wedge before it collapses to return to the lower part of the wedge. However, there is possibility of the index being rejected at the swing high also. Finally, if the index violated the lower...
Since June ending, the blue trendline has been sustaining the dollar index rally - dollar index has been moving above it. In a couple of days, if the rally could not break above 99.14, then a breakdown of the dollar index is imminent. If it struggles to close above 99.14, the possibility of re-testing the trendline before eventually dipping is most likely to happen.
Dollar index has been making higher-highs but the last 2 days have witnessed bears dominating the index. Today's candlestick is yet to close, but it's probably likely to close with indecision -just on an intermediate support level. As every traders await Nonfarm Payroll report tomorrow, the question on my mind is - will the NFP drive dollar index down to re-test...
i see more weakness on dollar and fundamentals also showing more tensions with tariffs.
here from technical i see abc correction marked with sub waves, also eurusd have same reverse pattern.
on the chart in comments u can see the bigger full view on this.
like it so ull be notified for updates...
Dollar Index - Weekly chart - After patiently waiting ( for monthss!!) for dollar index to rally into the weekly supply zone for a reversal, we have now reached this point and can anticipate a share reversal/decline for dollar in the coming weeks to months.
Oil prices bumping up, recent geopolitical crisis
Look at CXY (Canadian dollar index) prices seem to be off major demand zone
Looking to revisit broken upward sloping trend line
Short from 1.34 potentially
Wait for price action to confirm
The American dollar is the overall winner this 2018, despite being battered in these last days of the year. The DXY recovered from a yearly low of 88.25 achieved early February to a 17-month high of 97.71 in December, now battling in the mid 96s. Much of dollar strength came from the US Federal Reserve and its tightening policy, two steps ahead of any other...
Last post: April 14th 2019. See chart.
Review: Price was bullish but trading in consolidation.
Update: Price has now broken out of consolidation suggesting a bull trend continuation.
Conclusion: We do not trade this but look at this a guide to trading the USD pairs. If price continues towards 100, then we will look to place trades on the best looking USD...
Last post: June 16th 2018. See chart.
Review: Price was faced with the weekly 200SMA acting as resistance at circa 95.
Update: Price is trading above the weekly moving average but has remained in consolidation.
Conclusion: Waiting for a breakout above the March 2019 high.
Good Morning Traders
Looking on the 60 minute timeframe, price has recently retraced in a 3-wave pattern from the recent high (0.714) into the 61.8% retracement. Adding to the set of confluences is the RSI indicator which currently nears overbought territory. Where price currently sits at is a perfect level to enter for a sell, providing an adequate risk/reward of...
1, The Gartley
2, Rising Wedge
3, Bearish RSI Divergence
Target is based on the bottom bound of the Ascending Channel
On the flip side, price can continue to the top bound of the Ascending Channel and then drop
I drew my chart on the greenback last week some time and thought I would share as it has significant impact on major pairs as well as the price of GOLD.
For the time being we are seeing bears gaining momentum.
Keep a close eye on the $
Draw up your analysis on the Dollar, Sterling and Euro, and Gold.
Are there emerging patterns? Lets look again on Sunday at...
USDJPY and the US-Dollar basket are showing signs of weakening of their trends. I show why I think so, and I'm happy to hear of a different perspective based on the charts. Late last week I saw some unusual Yen strength which was masked by base currencies doing other things.
I was surprised that Wall Street was heading north but Yen quoted pairs did not rock...