We pushed above the most significant previous highs and hit our target of 92. The $ 1.9 trillion support package was approved by the Senate, will this create a strong bearish scenario for the dollar?
It is going to be interesting to see what impact this will have on the DXY next week.
The DXY dropped below the key structural level marked introducing more sellers into the market.
Knowing how manipulated the dollar can be, I expect a strong crossover and upside continuation into the target zone.
Please see my previous analysis below.
BUY or SELL? Not clear, just act when the time comes. No need to rush. There will be a safe price for us to use our money. In this article, I will write 3 parts: (1) Summary of February (2) Prepare for long-term orders and (3) Short-term orders.
Summary of the gold trading orders in February
Order 1: Sell at 1845-1840,...
There seems to be a common bias among traders that the dollar is going to strength long term, I disagree.
I think we will potentially see short term strength but overall the DXY has lots more downside to cover.
This sell off was simply a lure to introduce some sellers and wipe out existing buyers.
I would like to see a reversal from the box marked to the upside...
From what i can see before we can look to go long on the DXY we must wait for price to reach this area which i have marked out as support
No significant moves happen unless this area is reached and we are probably a few weeks away from that as yet
This is just my opinion, let me know your thoughts
The king of manipulation is back pushing to the upside trying to fight its bearish sentiment. This won't last long in my view, I believe this is simply a lure for buyers before we see downside continuation into the target marked.
DXY has made what appears to be an inverted head and shoulders and its currently testing the ema 89 which it has respected since november. maybe look for a deep correction is the usd majors and some really nice trading opportunities this week!
I have marked with an arrow the time's prior support gets attacked before downside continuation, It seems to be a common pattern on the DXY.
The USD is the most manipulated currency and for that reason, you need to tread carefully when trading or analyzing its close friend DXY.
I have marked the last arrow with a question mark because I believe we may see a...
DXY is creating a supportive level but knowing how manipulative the dollar is, this could simply be a tease to trap buyers. Personally, I think the price will begin to push to the upside to lure more buyers in before reversing at the 62% fibonacci and dumping to the downside. My first bearish target will be the extension marked, my second target will be the key...
Key area for DXY as we approach the 93.00 pivot area and 23.6% fibbo retracement area. We could see further $ weakness if we have a clean break and close below this area.
On the contrary, if the support holds - we could see a bounce in the $ and some strength enter back into the market.
From a fundamental point of view, the US elections has a massive part to...