Been posting this for awhile now, if you see any of my last posts about it. This time will be holding for the gap fill on the short side and then will reevaluate positions.
As we continue to monitor this zone for an upward momentum, a rejection of trendline and or support to the upside will trigger long positions for pairs like EurGbp ChfJpy EurAud EurNzd UsdJpy GbpJpy
As long as the index is between the two resistance and support ranges, the suffering trend will be likely.
If the price crosses the resistance range, the upward trend will continue.
As long as the green support zone is not broken, the downtrend is out of reach
In the explosive several 100 point moves we had last night we hit major resistance levels in the USD.
DXY has made a 161 extension of the recent range and this is the best topping signal I know of. The rule here is if we're into a top it should turn by/before the 220 fib.
Taking short entries close to the 220 with stops right behind it. We might be due to see...
DXY is now ready to take out the sell-side liquidity.
Anticipating a bigger move down, in line with the higher timeframe bias.
I'm keeping it short now ok byyyyy
ℹ️ In the previous week, I anticipated a greater retracement in the dollar index, but it retraced less and is now poised for another upward move. The targets for this upward movement could be 104.976 and 105.360 . 🐂🆙
Dxy coming days-weeks is definitely going to break out of 100-107 range to the top of 114.. with a possible fakeout above 114.
Warnings been given.
Pin this if you want.
During the last 24 hours, DXY has been stuck between 104.23 and 103.75 and decreased by -0.45%
103.75 is an area where DXY found buyers again and is rising so far.
Today's focus remains on the US Core Personal Consumption Expenditures - Price Index on a yearly and monthly basis.
It should be a strong market catalyst for the US dollar moves today.
A move of #DXY...
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 103.995.
Considering the today's price action, probabilities will be high to see a movement to 105.026.
P.S
Overbought describes a period of time where there has...
Dollar made a new high for the FIRST TIME in 2 weeks shifting structure to bullish and currently rejecting the buttom channel creating bullish pressure.
We can expect price movement to 104.4 which is a fair value zone coincidently resting at 0.62 fib.
➡️ Macro perspective:
The US dollar index rose ahead of the GDP data but then fell again. This slightly weaker data encourages investors to hold risk assets, but the big data is the January PCE released today.
➡️ Technical perspective:
DXY produces higher highs, followed by higher lows, signaling the start of an uptrend. If DXY rises immediately, a break...
Ichimoku dead cross happened in daily DXY chart.
In previous three occasions DXY fell for about a month after the dead crosses.
It is likely to fall to 102.5 in March, and maybe 100.8 in April.
For 3 months DXY was in a decline from October 2023 to December 2023. Price went on to create the perfect leading diagonal, consisting of 5 waves.
On the 28th of December, we were anticipating price to complete the diagonal and bounce off our diagonal support and reverse. Price went on to do exactly that!
So, how do we use DXY to find setups? DXY can be...
Given the time of the year, DXY is likely to keep a small range until FEb.
Possible 104.5 - 105.0 by December END.
Then Sells to begin the year toward 102 - 101.50
Not financial advice.
These are my opinions.
Hey Traders, in today's trading session we are monitoring DXY for a buying opportunity around 103.900 zone, DXY is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 103.900 support and resistance area.
Trade safe, Joe.
Honestly I waited for FOMC to push price lower. But the fact it couldn't even create a daily gap down, close below previous days low or couldn't even disrespected the weekly gap, made me stack up more argument on the bullish side than the bearish one.
On the lower, 4h timeframe we have created a bullish balanced price range. How price deals with that will show...
