hello everyone, price has reached the major support area, the price is starting to pick up from the support area, price will likely test 104.2 or above if the resistance breakout..
goodluck
After the latest market session and subsequent FOMC meeting, where a dovish tone was perceived due to the announcement of future rate cuts, the U.S. Dollar Index (DXY) is demonstrating an interesting technical picture. While the CPI remains high, signaling continued inflation concerns, the DXY's response has been somewhat paradoxical, showing strength instead of...
In continuation of my dollar analysis for the near term, the DXY broke out of the wedge to the upside. Bitcoin & Gold are strong & oil is steady as of now but can easily pop to the upside with the wars & geopolitical situation in the world.
I also still believe strongly that the markets will continue to rise ahead of the elections. This week seemed to follow the...
💵 DOLLAR_INDX, H4 💵 22 March 2024
The Dollar Index, tracking the greenback against a basket of major currencies, rallied following the release of better-than-expected US economic data, bolstering confidence in the Federal Reserve's optimistic outlook. With US Initial Jobless Claims declining to 210,000, surpassing expectations, and Fed Chair Jerome Powell...
➡️ Long-term #DXY analysis (March 11 - March 16)
We doubt US data will move the Dollar much today and instead, investors are waiting to see if Friday's February NFP jobs release does indeed correct lower from the strong gains in January and December. Consensus is around 200K and any lower would probably be good for risk assets in that it would allow the...
The dollar has found good support since yesterday afternoon when some US data prompted a USD/risk-off rally. The Leading Index printed a positive month-on-month number for the first time in two years, likely thanks to the strong equity performance and a weather-related rebound in the average work week. Existing home sales also surprised on the upside, rising from...
Here is our detailed technical review for DXY.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 103.497.
Considering the today's price action, probabilities will be high to see a movement to 104.788.
P.S
Overbought describes a period of time where there has...
Be aware!!!!!
Look at daily candlesticks formation, it seems like reversal pattern is forming, yesterday (Wed) FOMC push price lower and close at almost the lowest price of the day, and today (Thu) price open low with a significant gap.
This seems like a scary pattern that DXY is about to reverse and go bearish. HOWEVER, price has never violates the significant...
According to the behavior of the index in the current resistance range, possible scenarios have been identified.
The likely scenario is the continuation of the upward trend, and if a deep correction is formed at the 138% level, the blue path will be likely
Hola,
so this is what i would like this to get hammered down from here maybe squeeze some shorts first though doubt we deiviate above range high
IF we do might as well keep going and we get our rate cuts next time
Based on the daily chart, I'm expecting a correction to 105 before bearish continuation. If 105 does not hold then we like will see dollar getting strong, so that leaves a question of whats gonna happen to pairs trading against the dollar?? but I am expecting 105 to hold, then from then bearish continuation to complete wave 5 since if 105 holds then our wave 4...
From what am seeing, Price gave us a DIP to buy the Dollar at the Discount Price...Meaning all the USD/XXX are bullish e.g USDJPY & all the XXX/USD are bearish e.g EURUSD.
Quite strange but that what happening with the DXY.
