DX updateDX - Dollar!
1 hour Chart. DX is at Resistance. So, once it break, we going to next level (by arrow).
A DXY is showing a big Opportunity to buyWe have a big consolidation wich have a power to impulse the price up 112 points.
BULLISH DOLLARS MEANS TROUBLE FOR OPPOSING CURRENCIESLong term/Semi-marco:All major time frames are indicating that the dollar is very strong and trading against it will definitely be unwise especially when there's fundamental backings.
any currency trading against the dollar is in trouble.
PAIR TREND
12MONTHS=====> BULLISH
6MONTHS =====>BULLISH
3MON
Swing trade shorts for USD index (DXY)A potential swing trade short has presented itself on the daily chart.
DXY failed to closed above 103 and formed an inverted hammer on the daily chart, and its upper wick met resistance at the 38.2% Fibonacci level. Daily trading volumes also declined whilst prices rose gradually, against the prio
$DXY Weekly OverviewDirectional Bias: Bearish
Narrative
- The initial forecast i did for DXY played out well last week() with volatility coming into the market to push prices lower. I am still bearish on the dollar
- We traded below previous months low, and this is where i would like to pause to get new context to go
US DollarImo this is a very big level for the dollar going back decades. But more recently it marked the high in 2017 and again in 2020. I think we get a large move off this level in the coming weeks due to the 9 ema crossing the 21 ema last week. Price is also consolidating between VWAPs from 2020 lows & 20
Dollar Index Could Be Topping HereThe DX price is right in a resistance zone as noted with the rectangle and also with the two price tops circled in black. We also have a spiking weekly candle.
To increase the odds, it would be good for DX to close down below 103.80 tomorrow, Friday, February 9, 2024. The current price is 104.01.
Accumulation before the level, free zone after the levelAccumulation before the level, free zone after the level
Sharp corrective pattern? DXY becoming strongerDear Friends,
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As someone interested in the Elliott Wave principle, I find it a valuable tool for analyzing the market. I have developed my approach by combining this
U.S. Dollar Index confirms inverted H&S bottomWe may be entering a strong period for the U.S. Dollar. Price charts favor the USD with the Eurocurrency, Canadian Dollars, British Pounds, Aussie $, SIngapore $ and others.
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Frequently Asked Questions
The nearest expiration date for US Dollar Index® Futures is Sep 14, 2020.
Traders prefer to sell futures contracts when they've already made money on the investment, but still have plenty of time left before the expiration date. Thus, many consider it a good option to sell US Dollar Index® Futures before Sep 14, 2020.