The Dixie is still struggling to pick a direction around 95, but with #EURUSD failing to convincingly break through around 1.16 it's just a matter of time. 95.70 area is short-term resistance. I'm short Euros from 1.1625 #FOREX #DXY #USDOLLAR
The US Dollar Index #DXY is back into its intraday 95 support zone. I expect a bounce here to 95.70 resistance, and an eventual breakthrough toward 97-98. Shorting #EURUSD from 1.1625 if it gets there today.
#DXY It's Sunday, so not much to dither about here today. I remain bullish Dixie, will even throw some chips into the pot this week, though perhaps not until #EURUSD regains 1.16 and then we can short it good, no? Red arrows approximate my ability to forecast the future, which is shit. #FOREX
The dollar rallied off a strong 201K #NFP setting up a bullish case into next week and longer. Interest rate expectations stoked for a fourth cut in 2018, and more in 2019. I remain bullish into 96-97, first hurdle to clear is the descending trendline from the August highs. 95.65/75 zone offers immediate intraday resistance.
#DXY is now trading in a tight range as per usual pre-NFP Thursday doldrums. With a strong jobs number expected tomorrow, there may be raised expectation for a fourth interest rate hike by the Fed in December, which would obviously help the Dixie. I'm cautiously bullish after a 215K #NFP print #forex #NFPGuesses #EURUSD
Dixie playing out pretty much as expected, with a minor blip overnight in European trading due to $EURUSD suddenly dropping before recovering. 94.93 is next support, which is the bottom of my support range, and a FIB confluence point. Euro to 1.17 is likely, before Thursday NFP doldrums.
US Dollar rebounded over a full point since 8/28, but a possible inverse head and shoulder forming points to another try at support around 95 and $EURUSD 1.1650 or so #FOREX #DXY
Dixie is coiling at the moment, possibly forming a wedge (remains to be seen). The area just north and south of 95 is still resistance, below that, strong support is found around 94.20. The 100 hour MA (blue line) is also acting as magnet.
Dixie continues to lose against most majors, however upward momentum in #EURUSD may have slowed somewhat. I still expect to test the support left over from a few weeks ago around 94-94.20 and even lower, perhaps, but it's running out of steam. 98 is still within reach.
US Dollar Index #DXY dropped through the temporary support at 95 and it's eyeing longer-term support around 93.50 or so, with a further move toward 92 likely as well given the unexpected strength in #EURUSD.
Dixie back down to the 95 support area tested a couple of days ago. This is my inflection point, bulls and bears fighting it out. 92 or 98, which will it be? You pays your money and you takes your chances.
Everything playing out pretty much per spec with DXY bouncing off its support at 95. I expect another test of the area, possibly to coincide with Powell's speech at JH. After that, I believe a larger move in the dollar will bring about either 98 or 92, mainly depending on interest rate expectations post-JH as well as the situation in Europe (Italy).
After blowing through what I thought were important support levels, the Dixie has one more line of defense to cross, and that is the rising trendline from the June lows. If this breaks (currently @ 94.78 on my chart) then there is plenty of room for the Dixie to fall toward 92. So, either 92, or 98, you pays your money and you takes your chances.
US Dollar still doing its thing, dropping toward 95 later today or in Asia; $EURUSD to 1.16 eventually. Then, a sharp reversal IMO.
Expect the Dollar Index to dip further to the 95.20 area, which should roughly correspond to 1.1560-70 in $EURUSD I expect to hit this figure in the coming sessions ahead of the FOMC release on Wednesday, which, depending on the language, could spark a rally in the dollar and reversal in the Euro down to 1.12 (eventually).
US Dollar Index $DXY playing out according to plan - if you believe that I can predict the future, send me all your money. Bounced off of 96.13 area after dipping below it with $EURUSD hitting above 1.1440 I favor a lower Dixie and higher Euro short-term, with a deeper retracement later in the week.
I see the Dixie retracing to just above 96 short-term, then it's decision time: either further upside toward 98, or a deeper retracement to 95-95.50 #FOREX #DXY #EURUSD