Our updated small chart with possible scenarios, according to my analysis.
AUDUSD looks like a nice buy but only after a bounce off one of the moving averages, ideally looking for a doji candle heading up. The risk to reward is around a 1:3 ratio. Targets and stops are at either support/resistance zones.
DXY is currently bearish on all timeframes - D, W, M and it has now trapped a bunch of buyers in a false breakout on 4H - who would love an exit when price comes back to them! For reference, DXY on Daily
as we can see the weekly level supported AUDUSD price. If price comes back down to that weekly level we will look for long opportunities.
USDCHF looks like it has potential to drop further. Target as shown on the chart.
please dont hate me. i dont hate the other guy. i just think he's sometimes wrong. like me. today i am dxy bear. i am DXY Bull. usa. all the time long time. but today bear. i will be respecting Spinning Top. I do not see DXY higher today, or early next week. I think we range down to some fibs, 9399, Aug 3 high along the way to 939. 9369 if DXY is...
For those interested in similar patterns playing out in the market, here's a look at the DXY. If it continues to play out, then it suggests higher highs incoming.
DXY Weekly Outlook. Overall overview of the dollar is weak, however, I would be expecting a soft rally over the next few weeks many even a couple months too. We would have completed the BWave correction and moving lower to complete CWave, thus ending the 4th Wave of the Grand Cycle. Short term we may see strength coming in the dollar but overall we should...
The DXY is currently trading at around 96.62 just after breaking the bearish flag which it was in for almost a month after the drop from it's high of about a 100. With a break out of the bearish flag i expect to see the Dollar drop to around 93 which is equivalent to a -61.8 Fibonacci extension off the retracement Fib level starting from the high of the previous...
The dollar is trending down on a daily graph according to the Ichimoku Indicator, the dollar is having trouble rising above the Tenkan Sen line and is below a red cloud. The dollar below the 2 moving average lines is important as it indicates weakness and bearish trend. Goal: 96.4
DXY is rolling downward for the last couple of months. The technical analysis hints for more weakness and bearish target 94.65 1. The price is moving in a descending channel 2. Currently, it's trading below the key resistance of 97.20 3. It may bounce upward for a short term from the Fibo Extn.100% at 95.80 due to oversold condition + bullish divergence coming...
The potential of what holds in the future truly is limitless
"When the steam is not there for the Dollar, we buy our own currency Ringgit..especially KLSE" -Zezu Zaza, Webinar 1st May 2020 The selling in Dollar last week is a one of example of mechanism of retracement. As we can see, Ringgit is strengthen this week. This week is a bullish potential sign has started. Half of our sector industries will be open today 04th...
It's over Let the world burn May the Light remain amidst the Calamity
Very volatile current market conditions, manage your risk, then focus on bigger gains, potential for a nice daily move downward here.