The U.S. Dollar Index (DXY) tracks the strength of the dollar against a basket of currencies. In recent years, the strength of the U.S. dollar has fallen against other currencies as a result of U.S. monetary policy.
It is a weighted geometric mean of the dollar's value relative to other select currencies:
There has been an attempt to break below with a retest of the support/resistance price level. But has now formed to create an uptrend pulling back above the price level to make it a support level, with a retest already formed. EMAs have also crossed which also supports strength in the dollar being introduced. Strength in this will allow our EURUSD trade to follow ...
September FED meeting
US fixed income and stock markets are preparing to lose cushion as Fed may announce the onset of balance-sheet cut at the meeting on Wednesday. Termination of reinvestment policy and a smooth shedding of securities means a complete switching off of the "rescue mode” which has been regulator’s state for about a decade.
The market practically ...
Dollar index broke a key monthly support level last month and is currently trading below this monthly resistance on bigger timeframes. In this setup, I see a bearish pull back on the daily time frame and a good time to buy other currencies and gold as they are all on their pull backs as well technically.
DXY Daily:
- Inverted Head and Shoulders on the daily. Would like to see a break of the neckline before making any big decisions on the USD Pairs
- Break and Retest of the descending channel
- Counter trendline being respected well currently
- Completion of right shoulder matches up with 0.5 / 61.8 fib retracement
The U.S. labor department released its non-farm payrolls report for September 2017, which showed a surprise drop of 33,000 jobs in September, compared with an expected 80, 000.
But other data in September exceeded expectations. For example, the unemployment rate in September fell to 4.2% from 4.4% in August. Moreover, wage growth was also significantly better ...
Can't take this on due to R but thought I should share this for those of you with bigger R. Negative TL on the DXY rejected by what seems to be a kangaroo tail. Nice way to close the year?
*So with dollar it looks like it is basically between a range now, it tapped a bullish order block (on the monthly) so now turned breaker to bearish and closed below it - it's at 50% of a monthly level to it's actually at two monthly levels - I think bearish dollar next week.
*I am seeing a range of 94.70 - 90.95 - both monthly levels.
*For deep trends when it ...
ECB prepares for the move
On the eve of a turning-point meeting in October, the ECB provided deeper insight in its plans of tapering off the asset purchase program. A recent statement by the regulator says that commercial banks should increase the amount of reserves to cover toxic debts next year. Such a measure looks like reinsurance before ECB starts to cut ...
Hi to All !!!
First thing First ::: I am only available at week ends for analysis n ideas posting ,,,, Rest of the Week i am busy at B Options . I will try my best that my analysis could last for 1 or 2 weeks at least . Have a nice day .
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At DXY Dollar index Corrective wave 4 is in Progress Formation us as ...
The Fed's sudden warning to prepare for December rate hike and the early release of Trump's tax plan seem to have urged the bears to call off their plans for greenback for a long time.
The yield on US Treasuries posted a sharp jump in inflation expectations on Tuesday after the Fed chief literally hurried the markets to change expectations on monetary policy. For ...
The situation on Korean peninsula remains one of the most high-quality and coherent dollar signals, especially paired with the yen. USDJPY lost half a percentage point in the course of trading on Friday after Kim Jong-un again threatened to conduct a nuclear test in response to Trump's statement to destroy North Korea. In the medium term, USDJPY buyers remain the ...
Dollar Index DXY is sitting on critical support, a break below 91.00 opens the door to 88.50 which is a confluence of:
1) 61.8 fib of the from 78.97 to 103.57 = 88.50
2) it is also the 1.272 fib retracement from 91.98 to 103.57
3) 88.50 area has also acted as previous resistance on 2 occasions and is the break out point
