Initially responded to that previous resistance we witnessed throughout the end of last week and throughout this week. Interested to see whether we break ready for next weeks trading, or whether we hold as resistance and see another range sequence.
Last week we saw a break of the ending diagonal and we were anticipating a retest before we continued higher. We got that retest at the end of last week, which provided us entry for a few USD pairs we were looking at e.g. EURUSD and AUDUSD. (See links below for the USD set ups)
We're expecting USD to be bullish this week for the medium term. Will reanalyse DXY...
DXY has been within a wedge for what feels like forever.
The 90 level is the one to watch. If we break, we can assume there will be a retest (as shown in the chart) and will continue lower.
How to use DXY?
DXY strength = USD strength
DXY Weakness = USD Weakness
Gold is in the middle of a long term long or short but at this situation above we can look for the major retest for a buying opportunity and a break thru the trend line for a short term short....likely Gold moves in opposite to US Index so we need to be careful at this situation...
Starting the week with pairs carried forward from last week, if it's not broken, don't fix it!
0.89030 was test earlier on this morning, eyes peeled for that 0.89 test again now we have a little better market volume and a good stint ahead of us. USDCHF pulled up last week towards the latter part of the week, but then pulled back downside off the back...
Analysis 🔎: NAS100 is printing a descending channel on the 1H timeframe.
Price is testing the descending channel resistance.
The minor uptrend is supported by an ascending trendline support.
We could see a breakout or a downtrend continuation.
Bullish ⬆️: breakout above the descending channel's resistance.
Bearish ⬇️: breakdown below the ascending trendline...
US30 is printing a major rising wedge pattern as shown in my previous analysis.
Price is testing the major rising wedge's resistance.
RSI is printing a bearish divergence signal.
Price action is printing a minor rising wedge pattern on the impulsive move.
Sell entry ⬇️ - breakdown below the minor rising wedge's support.
Target 🎯 - major rising wedge's...
US DOLLAR INDEX has been on a long term downtrend since 1986.
Price has been consolidating in a rectangular pattern at the downtrend channel resistance.
We could see a bounce off the rectangular pattern support ⬆️ or a breakdown below the pattern support ⬇️.
How about playing with fractals ?
Drop your idea down here
Like if you're agree with me.
(( More XAU/USD buyers if DXY continues to drop ))
Check my previous idea about XAU/USD Long opportunity...
This is the second time we go long on the DAX today. The first one was a London open 2m clap long that earned us a quick 750eur, pays the bills ;)
This one however looks to be a better setup for the NYC session, we have 3 sets of TP listed and we might close out an any given level.
RSI is in the lows, the 10m chart has a contraction leading to the 30% level and...
The FTSE100 (UKX) looks strongly bearish while aiming lower.
We have multiple signals that support the above...
1) Prices moving below EMA10/21.
2) MACD trading below the zero line and looking weak.
3) The RSI is trending lower yet still good.
4) Bad news for UK with a new lockdown likely taking place.
5) Less political manipulation of the market allows easier...
Find out more about the whole truth, nothing but the truth and the whole truth
about what the Elliott wave principle has in store for the SP-500 stock index;
and how NASDAQ 100 index is the one everyone is watching carefully right
Know more today.