New head and shoulder forming on the daily maybe this one is not fake
Watching the dollar to form the right shoulder of the reverse head and shoulders. Assuming that the low for the intermediate term has been formed, then this suggests that we are in a prime buying opportunity to test the long side for the dollar.
Hello there, It looks like we are in the final stages of the large WXY correction. We could see some strength within the flag and then another drop. But after that I think we would see a robust upside move in the Dollar Index (DXY).
Following an extreme drop from the 53 level and clear demand in the 43-46 area, along with a weakening DX yet likely rate hikes later this year, ongoing oversupply, yet continued promises form OPEC to meet the agreed upon cuts, I just do not see a catalyst midterm for a break up or down form the current range. 45.62-50.37 is a range created in '09, a swap zone...
Dollar Index is at a crucial point. We can see a nice bullish wedge. This mostly is a reversal sign for a strong wave up. However the Stoch indicator still shows enough selling pressure is left to push the price further down. ADX is a bit doubtfull about this, could hint at a reversal up. So keep a close eyes on the dollar index. If the upper range breaks we will...
Logistic Wealth Management Strategist-Tanner Elphee 6/12/17 GBPUSD sold off harshly after election results. Me being the novice trader I am jumped right in off the first woosh bar. Set my stop behind the first wick and through the night it stopped me out. In hindsight the stop was way too close and I really have no clue what is going on in UK. I know the...
GBP down harshly after election results. I am unable to relate the results to the ideology of this trade (fill in anyone?) I have this pair on upside watch and saw an opportunity to get a discount. Jumped right on in. Kinda programmed to seeing these moves. Doubt it goes lower than the news release. Not part of the trading plan so in attempt of discipline this...
Dollar Index on the daily time frame looks like it's set for a free fall. ADX shows a very strong bearish trend and Stoch Rsi still shows strong selling pressure. When you look at the price levels its just broken through a resistance and it seems to keep trading in the fresh downwards channel. With this in mind, stay sharp on possible sell setups on the dollar...
Unless Le Pen wins next weekend, DXY is heading lower, because less and less demand is seen. Weaker bounces also support this idea.
Although I am a long term dollar bear, I think next week we see some upside. Maybe even new highs later this year. Daily divergence at a major support is what interests me in a long
Fear seems to be in the air the past couple of weeks and gold has been responding; I believe this will be short lived and I am looking at the Oct/Nov 2016 Supply/Demand exchange level for a potential reversal. If prices find resistance at the 1238-1258 zone then I'll expect prices to retest the 1185 support level in the coming weeks and with a continuing strong...
DX at a major level of support with confluence from Fib and trend line. We will watch this level for a correction to the upper trend line. Use the majors and minors and look for correlating levels to take advantage of what could be a short term correction. We are currently short EUR/USD from 1.0820 a very aggressive entry using this correlating analysis (therefore...
Dx is now at major support with confluence of fib level and TL. will we see short term correction and resume some dollar strength. Watch other markets such as eur, chf, jpy and gbp for USD strength.
as seen in previous dxy chart, irrespective of the huge fed repricing the USD finished the week lower - not a word from the fed this week so expect a potential for a hike in europe, market is pricing in first hike in almost 3 years
As per my previous chart, I was expecting Gold to spike after the rate hike just as history shows. I also believe this won't stop here, this is the start of new leg up.
We have a full house of markets; Euro still alone holding against the flow. NFP was a clear overshoot sending signals that hikes are beginning to weight heavier in equities. THE EASY PART OF THIS MOVE IS LONG GONE! Lets try to make this idea productive for all; extreme divergence between dollar and euro and just the pure chance of making that gap even wider...
First lower low is being established on hourly after more than two red weeks. daily close above $1208 will be the first good sign after more than two weeks of bleeding