It now appears that the Dollar is carving out an Inverse Head and Shoulders pattern. It is unconfirmed, however.
Taking out the recent swing low low at 93.81 would not invalidate the pattern. Conversely, taking out the swing high at 96.98 would imply a neckline break. The ascending neckline, if broken, implies a fast move up within a broad Inverted Symmetrical ...
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.
Here the Dollar index has hit a long term support level around 91 to 93 and recovered from these levels twice. Both times at RSI major oversold levels. Technically this enhances support for the Dollar. Looking fundamentally, the new US tax law changes and good economic data out from the US points to support of the USD. The theme for the DXY may be either a new ...
Downtrend last swing high broken by 5 wave impulse upswing. Possible corrective abc has ended around the 78.6% retrace. Blue upfork yet to be confirmed; if it holds, will target blue median as objective.
I believe price will be heading to test the 6M open,
Break of trendline structure and rejected a 15m OB 0.11% within a 4H OB 0.11%
Will want to take out all those who have held their dollar shorts
Waiting for confirmation; if price rejects 92.90 or 93.05 on a retest and bullish pa is seen
93.15 is the main level I am watching
On a weekly time frame, the last candle formed a bullish engulfing pattern and right at the H&S's neckline. It is premature to say that the H&S formed is already busted but the 200 SMA and trendline are still intact which suggests that we are still in uptrend. In addition, it has also pierced above 100.20 where it acts as a strong resistance level in several ...
In a longer time frame (W1), the bias is on the bullish side where price are making higher highs followed by higher lows.
With the Fed raised its short-term interest-rate target last month for only the second time in a decade and signaled it would likely speed up the pace of rate hikes this year. Rates are currently targeted at between 0.5 percent and 0.75 ...