US Dollar IndexShort
DXY Weekly outlook May 26 2024
DXY Weekly, Daily, and H4 Chart Analysis
Weekly Bias: Bearish
Market Structure Shift (W-MSS): Confirmed two weeks ago, signaling a bearish trend.
iFVG-W: Last week, price tested and closed below the inverse Fair Value Gap on the weekly timeframe (iFVG-W), reinforcing the bearish outlook.
Target Level (DOL): 103.921, where the Weekly Fair Value Gap (W-FVG) and Weekly Swing Low (W-SSL) converge.
Confirmation Needed: Watch for a Bearish Market Structure Shift on the H4 timeframe (H4 Bearish-MSS) to confirm the bearish bias.
Daily Bias: Bearish
D-FVG-CE: On the daily chart, price has closed below the current Daily Fair Value Gap (D-FVG-CE).
D-LRLR & D-SSL: Daily Low Resistance Liquidity Run (D-LRLR) is aligned with the Daily Swing Low (D-SSL) and the Weekly Swing Low (W-SSL), indicating a target for low resistance liquidity.
Expectations: In the upcoming week, anticipate a move towards these lower levels, seeking liquidity.
H4 Bias: Bearish
H4-FVG: On the H4 chart, a Fair Value Gap (H4-FVG) has formed after rejecting from the weekly inverse Fair Value Gap (W-iFVG).
Key Level: 104.998 - 104.913 (H4-FVG).
Bearish Confirmation: If price moves upward and then rejects from the H4-FVG level, this will confirm the bearish bias. This will be an ideal point (H4-POI) to enter short positions targeting 104.009.
Key Levels:
Resistance: Recent iFVG-W (Weekly), H4-FVG (104.998 - 104.913).
Support/Target: 103.921 (W-FVG and W-SSL), 104.009 (H4 target).
In summary, the DXY shows a bearish bias across weekly, daily, and H4 timeframes. Watch for price movements towards 103.921 on the weekly and daily charts, with confirmation from a rejection at the H4-FVG level (104.998 - 104.913) to solidify the bearish trend and target 104.009.
Weekly Bias: Bearish
Market Structure Shift (W-MSS): Confirmed two weeks ago, signaling a bearish trend.
iFVG-W: Last week, price tested and closed below the inverse Fair Value Gap on the weekly timeframe (iFVG-W), reinforcing the bearish outlook.
Target Level (DOL): 103.921, where the Weekly Fair Value Gap (W-FVG) and Weekly Swing Low (W-SSL) converge.
Confirmation Needed: Watch for a Bearish Market Structure Shift on the H4 timeframe (H4 Bearish-MSS) to confirm the bearish bias.
Daily Bias: Bearish
D-FVG-CE: On the daily chart, price has closed below the current Daily Fair Value Gap (D-FVG-CE).
D-LRLR & D-SSL: Daily Low Resistance Liquidity Run (D-LRLR) is aligned with the Daily Swing Low (D-SSL) and the Weekly Swing Low (W-SSL), indicating a target for low resistance liquidity.
Expectations: In the upcoming week, anticipate a move towards these lower levels, seeking liquidity.
H4 Bias: Bearish
H4-FVG: On the H4 chart, a Fair Value Gap (H4-FVG) has formed after rejecting from the weekly inverse Fair Value Gap (W-iFVG).
Key Level: 104.998 - 104.913 (H4-FVG).
Bearish Confirmation: If price moves upward and then rejects from the H4-FVG level, this will confirm the bearish bias. This will be an ideal point (H4-POI) to enter short positions targeting 104.009.
Key Levels:
Resistance: Recent iFVG-W (Weekly), H4-FVG (104.998 - 104.913).
Support/Target: 103.921 (W-FVG and W-SSL), 104.009 (H4 target).
In summary, the DXY shows a bearish bias across weekly, daily, and H4 timeframes. Watch for price movements towards 103.921 on the weekly and daily charts, with confirmation from a rejection at the H4-FVG level (104.998 - 104.913) to solidify the bearish trend and target 104.009.
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