Fundamentally: rising interest rates, higher inflation expectations and a rise in US yields relative to other major G10 currencies should continue to drive the dollar higher. Further into 2017, $10 trillion of off-shore dollar denominated debt is massively bullish for the greenback. Technically: The dollar index has broken 100.50 - a major multi-year...
Why? Broken bullish trendline, should as act resistance. 61.8 fibo retrace Structure, previous support, should act as resistance Bearish trendline, should act as resistance What more would I want? I'd prefer RSI to show even more overbought, but still, enough to hold my case. Taking profit above previous structure support. NFP tomorrow, but since this trade...
Double top followed by break to the downside. Selling the retrace with falling trendline as resistance together with previous structure-zone. Looking to take profit above 61.8 retrace of the leg. Stop loss above highest of the tops. Since is NFP tomorrow I will definitely be on the lookout.
The Dollar Index, DXY, dipped to 94.3 today. However, on the 4H chart, there is strong divergence at this point. Furthermore, since late April, DXY has trended upwards on the 4H chart. If the trendline indicated holds, and DXY stays above 94.00, I expect the dollar to recover. Fundamentally, I feel that a neutral Fed has already been priced in to the market,...
A very simple of a wave analysis. We saw previously was the completion of the impulsive wave (v). Assuming downward correction of wave (a) have formed, and going down towards the 61.8 % fib line for retracement, then will again resume its way down to complete wave C. My idea was to short GBP, exactly when the confirmation bearish candle formed, from the level of...
US Dollar 15m Long DXY Long We have just completed an ABC -and retest of the trendline for more upside next week. The 0-2 might be an ABC correction, either way, the trajectory still looks long for a few days next week.
Just looking at the fib extentions and there is a possible reversal zone marked out could see a c to d leg if we get a bullish reversal and then a continuation downwards as the pair is still in a bearish trend overall
Good luck! DO YOU LIKE IT? PLEASE GIVE IT A LIKE! THANK YOU VERY MUCH!
Fundamentals: - The QE program in the Euro zone is still well under way and the latest Non Farm Payroll figures squash Janet Yellens speech last week which I expect to bring the Euro back down to major support levels. The recent rally in the Euro has mainly been caused by the weaker USD which now seems to be back on the strong side. I will be looking to sell again...
Should Dollar bust out of this range area I don't see much stopping it. I don't believe last week's sell pressure will continue