Price has pushed to the upper level of the current weekly zone.
Price has attempted to break the top but has failed a few times, however there could be a push higher to the Daily zone mapped out where we could then see a stronger fall back.
REASONS TO BUY: It really does look like a short to me, fridays low took out the previous days low and closed above the Stop raid level. ICT (my mentor) has a thing about equal highs and if you notice we have equal highs made this week, definitely has stops resting above it and price should raid them and reach the shaded box area which is a 4H order block which ...
Have been watching DXY Closely the last couple weeks, as I was anticipating this move to the downside
As we should all know with the dollar weakening, a good indication to Buy XXX/USD and sell USD/XXX
We have NFP tomorrow so will be keeping my eyes on the dollar index
Elliott wave had confirmed my idea of the move to the downside as DXY created a nice double ...
Short term the dollar index looks to be loosing momentum as it approaches a key weekly/daily level. On the daily time frame it has broken this level of 96.60 but has retraced back below within the same week, this time frame is also indicating that bearish divergence in the RSI indicator. On the weekly time frame it can be seen that this levels has held as ...
EURUSD Setting up for a sell following STOCH and RSI current values, if this Head & Shoulders pattern plays out and the channel is not broken to the downside it should support the sell of XXXUSD Pairs followed by a strong bullish move.Just getting some practice in and my first published chart. Open to all advice of analysis criteria!
Potential short term bearish move towards 95.98. Previous reversal zone (96.59 - 96.99) has been broken.
But on a larger time frame, the uptrend is still intact. If the price reached 94.91 or even 94.20, it is a better long opportunity.
DXY
On the weekly is in uptrent but entering P2
On the daily in the uptrent but retesting strong zone of resistance at 96.79
On 4 hrly in the uptrend, new LH was formed market will retest zone of resistance second time and we will see sell off
It now appears that the Dollar is carving out an Inverse Head and Shoulders pattern. It is unconfirmed, however.
Taking out the recent swing low low at 93.81 would not invalidate the pattern. Conversely, taking out the swing high at 96.98 would imply a neckline break. The ascending neckline, if broken, implies a fast move up within a broad Inverted Symmetrical ...
Last week ended for the dollar relatively on a minor note. The reason - the weak data on the NFP. That is, the number in itself in +134K is not harmful, but the markets expected a much higher value of the indicator (+185K). The negative effect was compensated partially for by unemployment figures, which dropped to the lowest since 1969 values and turned out to be ...
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
