We published the observed short term rally for dollar index last week (see chart below) AND IF the index can violate the swing high at 97.84, then we could possibly see dollar rally up to 98.30 before bears can be bold enough to attack. Again, longer time is still bearish and the index can reverse downtrend...
With the Dollar Index at the extreme bearish sentiment on the daily, the index likely to make a short term rally in order to re-test some resistance levels
WEEK AHEAD
Buy DXY now!
Tendency: Uptrend
Indicators: Bullish candlestick close, Exponential Moving Average
Oscillators: Stochastic.
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hey traders,
dollar index is close to a major trendline .
this trendline matches perfectly with horizontal support.
I believe that we can expect a bullish reaction from the underlined area.
Target levels are:
97.8
98.4
The key is the fractal in the blue rectangle. The analysis shows that the fractal sequence in the yellow square has the same size. This includes the magnitude of the main trend and the magnitude of the correction amplitude. The first major difference is the blue rectangle. This is more important. In this rectangle, fractal modification occurs. Thus, the size of...
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DXY looks pretty good at this s/r zone and trend line; it could drop a bit more, touch multiple time the trend line and then push all the way up, and this could be a very good confirmations for the bias that I've got for USDJPY and EURUSD! Trade safe traders and enjoy my...
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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DXY (Derived Data)
