> The price has tested this area a few times recently and has struggled to break through this area.
> Bearish Divergence on 4hr.
> Retest of the previously broken trend line.
> The price has respected the 0.618 level and we predict to see a reversal from there.
As I said last week dollar break old intermediate Highs and make intermediate new Highs, now I am expecting that dollar make a little retracement to 97 and continue falling or just to continue falling until 96.20 0r 96.
For me is a strong sell for the confluence with order block, Fibo retracement, institutional price and Net short.
Like & Follow
1, The Gartley
2, Rising Wedge
3, Bearish RSI Divergence
Target is based on the bottom bound of the Ascending Channel
On the flip side, price can continue to the top bound of the Ascending Channel and then drop
Us dollar index is currently trading around the 96.70 area where it found significant resistance. We can see the index to form an M on the Daily, 4hr & 15’’ timeframe . Next week expectation is for the index to test the 96.00 are again. It may reach the 97.00 psychological line before it reverse its current trend. If the trend fails to reverse on those two...
Things are showing some dollar selling today. Could be Friday profit taking on the dollar?
¬ I've been looking at this level for the past couple of hours. It's tried to break above it but failed a coupSle of times. Certainly going to be keeping an eye on the flows around here during London and the USA session.
DXY target 97.7 possibility is high, DXY still has a lot of momentum within itself to achieve the Higher High surpassing the 97.10 high, Cable weakening with uncertainty of BREXIT, retest of trend line and has broken with a close of some what of a graveyard doji, Possible short scenario with 1st leg of M complete on 4HR
this may be become more complex D wave of a diagonal. looking at the first corrective wave B of the diagonal as timeline than this D wave cant be just that upmove it has to have more...
DXY Daily:
Directional Bias: Short
Reason: Price has hit daily resistance (retested resistance)
Reason 2: Price crossed trend-line and retested trend-line
showing the validity of the trend-line.
Reason 3: Moving Average crossed with price this in-dictate's
price fall.
Target: Daily support zone which is 98.81 region
This indicates that all Pair's XXXUSD...
after finishing this motive wave down, we will see what kind of a correction it will start making.. or this can be just a second wave of a diagonal which may turn way up. but about that when we get there...
The Dollar index was on a downward trend for the past month which change the past week with an upward movement that failed last Friday around the 96.65 are.
The pair is currently trading below the 200 EMA and near the 800 EMA. In the are is 0.5 fib which means that buyers have been exhausted and that there is not much potential for retracement.
We should watch...
Been watching this sucker like a hawk. Was waiting for the retest and break of green support line at 96.2 area. As suspected DXY broke.
Now awaiting a retest of that lower red TL. Break or bounce?
The DXY has been oversold for the past month and is currently trading on an upward trend above the 200 EMA.
A downward potential is covered by the 31 & 50 EMA as well as the 800 EMA.
we expect the pair to rise until the 97.00 level for a reversal to happen
The U.S. Dollar Index tracks the strength of the dollar against a basket of major currencies. (DXY) originally was developed by the U.S. Federal Reserve in 1973 to provide an external bilateral trade-weighted average value of the U.S. dollar against global currencies. U.S. Dollar Index goes up when the U.S. dollar gains "strength" (value), compared to other currencies. The following six currencies are used to calculate the index:
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TVC:DXY
