✅The DXY index has succeeded in breaking the 🔴 Resistance zone($104.27-$103.80) 🔴.
📈From the point of view of Classical Technical Analysis , DXY seems to have succeeded in forming an Ascending Broadening Wedge Pattern . Of course, we must wait for the reaction to the upper line of this pattern .
🔔I expect the DXY index to rise to at least 🟡 Potential...
DXY is heading towards 104.23 Level. It will again resume its uptrend towards 116 mark, from where it will hit a monthly supply and expect a fall. Long from 104 levels.
DXY Short Scenario:
1. Open short when the triangle is broken downwards.
2. Take Profit when the price reaches the critical area.
Don't forget to put S/L.
* Remember, if the price breaks the triangle UPWARDS, opening a LONG position would be logical.
* I do not recommend you to insist and see the chart from only one perspective.
Stay Safe
The market reacted to Biden's infrastructure bill which will unleash another wave of dollar liquidity into the markets favouring risk on assets over safe havens. We should see the dollar continue its selloff even if the price is due for a short term relief rally.
BULL CASE
If the bulls find some momentum this week while the bears are sleeping, we should see...
HELLO TRADERS
- As we saw in Friday closing price broken some important level and made strong price actions.
- Accordingly market structures and studying I have observed that DXY is still bullish and following this parallel Ascending channel.
- I am looking that price will going to complete and test channel support also right leg of h&s pattern.
- Mean while in...
The dollar index ended up breaking downwards this week. It is in no man's land between the channel formed by the 93.188 and around the ~92 levels.
BEAR CASE
We think there's likelihood for the price to find more downside to test and potentially even break the bottom of the channel to hunt the stop losses around the 91.8 and 91.5 areas before finding more...
HELLO TRADERS
- As in my previous analysis i have shared my vie about Index that i am looking for a great buying opportunity.
- Accordingly my Bias price has now broken falling wedge and also confirmation area for buying.
- Now onward i am looking for DXY bullish at least it will test its previous Daily High.
"BTW i am attaching my previous analysis for...
HELLO TRADERS
- As my previous detailed analysis i have mentioned details.
- We have wedge formation and H&S in H4 Time frame.
- Looking for a right leg completion now.
GOOD LUCK
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Analysis based on Technical Education.
Entry can be taken only after rejection.
Trade can be cancelled without any notice.
Trade is based on our strategy with 85% challenging...
DXY FORECAST:
- the DXY could possibly reach 92.0 before continuing the downtrend channel to lows of around 88.247
- Dollar weakness suggest some buys will possibly be available on eur/usd since they are inversely correlated.
- Open to the possibility that the DXY has already made its bullish push and may continue, meaning it may not reach lows of around 88.
So far everything is on track.
Thoug hwe dripped lower than expected, we did still bull div on the weekly as predicted. if we adjust accordingly to the new data, we reject 92.5, sweep the 89/90s then rocket mid year 2021 (timing pure pure speculation)
With the NFP news on Friday, we saw the DXY struggle to break the sequence of the lower highs that started since August, this still put the bears in control. We might be seeing a 5 waves move to the downside and then a big upward correction. TRADE WITH CAUTION
DXY Long Idea (5/7/19) 4HR Chart
- Price currently broke the trend line that I have placed on the 4HR, and had a retest of that trend line .
- I am looking for the lower high to be formed on the overall bullish trend line , so once price reaches the 61.8% fib level and the 4hr disturbance
zone (orange).
- Once the reversal occurs, price will then reach at...
