As 99.00 contains the upside, all roads eventually lead to a 96.50 test, trading tactically around this view, this hypothesis would be invalidated with a multi close above 99.00
#DXY tracking the price path highlighted last week, below 97.50 opens a move to the pivotal 96.00 decision point, failure here suggest medium term top in the US Dollar as per the analysis from our strategy sessions looking for a summer topping formation in the USD in line with historical Pre Presidential Year cycles
Dollar Index - Weekly chart - After patiently waiting ( for monthss!!) for dollar index to rally into the weekly supply zone for a reversal, we have now reached this point and can anticipate a share reversal/decline for dollar in the coming weeks to months.
Looking at the monthly EUR/USD chart the confluences are more so evident. The Stochastic Oscillator showing divergence of the lows. Price currently sitting just below the 61.8% Fib retracement, You can see the ascending channel beginning to form with our 1.3900 handle target being confluent with channel resistance and the D2 Fibonacci extension -61.8%...
As far as risk goes you have to.. for the biscuit. We see Multiple technical confluences surrounding the 1.1170 handle with an X marks the spot scenario. Quarterly chart implies a continuation of the long term up trend for the pair.
We are sitting around the 61.8% Fibonacci retracement level and have support from an ascending and descending trendline. With the...
the dollar index is looking to be following a new channel heading to the downside in the long run, potentially. We can see that price is at the top end of the channel so we will wait for this small trendline & current support to be broken then we will enter short on this chart. Looking to target the bottom end of channel. This should introduce some USD pairs to a...
In this chart we can see the dollar index finding support at the same area as two previous lows. You may also notice Monday closure perfectly landing on our -0.27 Fibonacci extension, furthering on we spot a daily bullish spinning top Tuesday rejecting the low zone previously mentioned and closing above the fib level! Running from the end of September 2018 we have...
EURUSD long trade.
Rejection of prior lows and ascending trend line
At major support level
DXY at major resistance - Expecting a rejection and bearish move from here
Dollar monthly head and shoulders in play. Expecting a bearish dollar until the end of the month to give a weak candle close.
R:R 1:5.96
Good Morning Traders
Looking on the 60 minute timeframe, price has recently retraced in a 3-wave pattern from the recent high (0.714) into the 61.8% retracement. Adding to the set of confluences is the RSI indicator which currently nears overbought territory. Where price currently sits at is a perfect level to enter for a sell, providing an adequate risk/reward of...
The current bull run in the dollar could be coming to an end by the latest 2021. By thenwe should see a strong reversal in the DXY as the Fed likely eases to avoid the coming forecast recession. Prepare accordingly by amassing hard assets such as gold, silver and other commodities.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
