GBP/USD, GBP/EUR, GBP/JPY, EUR/USD, USD/CNY, DXY
MX OIL PLC ORD 0.01P, LLOYDS BANKING GROUP PLC ORD 10P, WISHBONE GOLD PLC ORD 0.1P (DI), UK OIL & GAS PLC ORD 0.01P, MYSQUAR LIMITED ORD NPV (DI), OILEX LD ORD NPV
FTSE 100, DAX Index, Euro Stoxx 50, S&P 500, Nasdaq Composite, Nikkei 225
Gold, Silver, Crude Oil, Brent Oil, Natural Gas, Bitcoin
BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
A perfect shooting star pattern on a descending trend line for the Dollar. Reversal at play off of this so expect some weakness for the Dollar this week!
dollar index - h4 chart - selling on rallies due to dollars bearish trend. 3 drive reversal setup giving us confirmation of the weekly resistance holding
Head and Shoulders, 61.8 fib retracement and daily resistance respected,
Also if we go down to the 4hr chart there was a doji candle this Friday. Bearish bias currently
Dollar index broke a key monthly support level last month and is currently trading below this monthly resistance on bigger timeframes. In this setup, I see a bearish pull back on the daily time frame and a good time to buy other currencies and gold as they are all on their pull backs as well technically.
Or will the 50% fib hold it. I doubt it. Look at last time it broke 200-hr MA
The DXY likely to see more downside in the short term.
If this is the case, other currencies should see an upside for the duration.
Dollar Index Monthly - Structure speaks for itself. Big moves to the downside expected. This correlates well with global indices and Oil they are also indicating a big correction on larger timeframes technically.
Daily close below 98.85 - bearish scenario to 97.85 and next below - 96.40.
Daily close above 100.97 - bullish scenario to 101.97 and 103.82
Short from 100.70 to 99.85