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95.00 resistance and 94.00 support is a key area of interest for the Dollar as you can see how price reacted previously to these levels. It has tapped 95.00 today and pulled back so there is bullish pressure there, but can the bears keep it below this level and closer to 94.00?
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!
The last two weeks we have seen some bullish moves with the Dollar which broke the DXY out of a low range. However on a weekly chart, we can see it has now reached a descending trendline around the 93.00 level. Could this be a bit of a make or break move for the Dollar? With a break to the upside and push towards previous 2017 highs or a rejection and downside ...
dollar index - h4 chart - selling on rallies due to dollars bearish trend. 3 drive reversal setup giving us confirmation of the weekly resistance holding
The Dollar Index has been stuck in this wedge pattern since the beginning of 2018. After a large fall from the 95.00 area it seems to have stalled and now deciding on whether to continue pushing down, or prove this wedge pattern is the bulls getting ready to go! Between 90.50 and 80.50 seem to be keen bounce areas for price to reverse so keep an eye for a a strong ...
This week I believe that the US Dollar will go up to seek liquidity before coming down.
This will put pressure on other currencies. GBPUSD and EURUSD will go down beginning of this week and will end the week on the upside.
Will we see a break of the 89.90 level to start the rally upwards and back into known territory for the Dollar? Could 92 / 93 be on the cards...
DXY has hit .618 Fib level and is oversold on MACD and at around 40 on the RSI.... Who knows what will happen??
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
Upside down head and should pattern on the DXY. this should push the dollar higher in the future to come
Dollar Index Daily chart - I see a buy opportunity here for dollar pairs from this level we can also see a pull back is due on monthly chart. Daily structure is also bullish
The last round of rate hikes were 2004-2006.
Bullish above 99.5 to 101
Possible reverse at 99.5 and leg lower to 98 and 97.
Bearish below 99
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.
Ok, now I am agree with H&S on DXY
I am bearish now
Neck line is at 99 level, profit target approximately around 96.6 area.
Bearish outlook below 101.38, 99.85 and 99.
After pull back to 61.8 % Fib I am looking at the price to break above 101.95 to go long 102.8
Alternatively bearish below 101.3
A break below 99.40 suggests a higher probability of Head and Shoulder formation.
I would like to see bounce back to 100.33, reverse and break above 101 level to profit target at 102.
Level 101 is very strong resistance level from multiple time frames.
Otherwise close below 100.33 will open the way to 99.24