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
In my mind, the US Dollar is s benefitting from a much needed GOLD correction. None the less, the Bulls have been given a chance to run. Watch for 101 to be in their sights.
From a technical standpoint and based on previous price action. I have to conclude, the Dollar Bulls are heading themselves to a slaughter by the Dollar Bears ...
Afternoon Firstly apologies guys for not posting many ideas recently, I have been up to my eyeballs working on other projects alongside our private trading group. The neckline was broken on the head and shoulders around the 100 level indicative of further decline toward the 98 handle. Provided the DXY remains below the right shoulder highs and 50d moving...
Several factors have cautioned me to some USD Strength, at least in the short term. Price has stabilised from 99.4, established a Bull channel, which has taken price through what was a Bearish channel (Where price previously reacted with sharp rejections) the mere fact that there is still price action in this channel maintaining the bull channel atleast gives me...
So it looks like we got a golden-cross on XAUUSD over the past few days, however the DXY did not give us the death-cross it was headed towards. XAUUSD is looking to bull, however today's strength in the DXY halted it's run through 1240. I will be paying close attention to the DXY / XAUUSD relationship over the next few days to see if XAUUSD can continue it's...
Last week was substantial for both gold and the DXY. Gold was able to close above it's 100EMA, and above the key psychological level of 1220, and DXY closed below the key psychological level of 100, and it's 100 EMA. This will prove to be bullish for gold, and bearish for the DXY. Looking at the 5 and 100EMA for both gold and DXY, we can see that gold's 5 is...
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
Pivotal week ahead for the dollar. Still trapped in the downward channel but supply zone holding firm. Looking for a long entry with a stop under Thurdays low.
How far will the US Dollar fall? A first and sound goal is this open gap at the level of 98.99. After closing the gap the DXY will perhaps change it's direction and start moving bullish. I think this is a good way of orientation for all other major pairs. What are you thinking about? Any comments are welcome. Good luck and a lot of pips for you all!
Daily close below 99 zone will open the way to 97.77 and 96.33 Alternatively it will bounce of 99 and go back to 99.75
Expect DXY to gain some strength in the first part of the week (100.75 - 101.00). Midterm i think DXY has still some room to drop.
This is a wild (educated) guess with the Trump inauguration in less then 24 hours. However this is what my analysis shows. Limited retrace, then move up to 1.02.
I've been short since last night because as you can see we were at resistance levels. I was aiming for a little more downward correction, however the dollar index rejected the fib extension which was my signal to cover my short at 40 ticks profit. It was only a small rejection however so expect a little downward move on EURUSD. With recent trump remarks that the...
Elliott wave analysis on DXY Overal Pattern : Impulse Location : wave 4 of wave (5) of Wave ((C)) Target : about 103 Please discuss about this analysis, it's counting labels, targets, T/P, S/L and future patterns, moves and ... using your described charts by comment on this page.
Just a small update on my previous ideas regarding the DXY. Straight-forward sell set-up, strong bear div.
yet as i learned about 5 wave structure, with this as i can see 5 wave structure is completed. now it will go for correction.. Let See...