everything depends on DXY in last week , Dollar index movement make noise in all Major Trading instruments like XAU XAG EUR GBP Trading Setups ,
Traders and Trading institutions Feel more risk on the DXY New Price and a lot of them liquid their positions to Hedge The risk with more Liquidity
Powell Testimony was Most Important Event Of the week and when he said there is no enough debt and cash to guaranty the 2% estimated Inflation rate DXY All major instruments Experienced High Volatility last night
now , the last hope for Bulls Against Dollar is a rejection from the red trend line on DXY with Reliable Price Action
sincerely AHZ
Dollar-index
DXY (U.S Dollar Index) Bearish Analysis🔸 WEEKLY CHART EXPLANATION:
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🔸Price broke the Ascending Channel.
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🔸It is now facing the Support Zone at 93.00.
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🔸If this zone is broken to the downside, the next bearish target is the Support Zone at 89.00.
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🔸 Will look for a lower timeframe bearish setup.
Dollar index: Short term bullish scenariosThe trend in the USD is down - and normally its a good idea to follow the tend
BUT....
Europe second wave - euro negative
US cases coming down (possibly because of less testing)
US election
US Treasury auction supply - 20 year bonds next week
New Zealand example of other central banks easing first
Haven flows without stimulus deal, US China relations (talks start again tomorrow)
Dollar Currency Index, The places for Sell!I show you the best Sell places. I choose to sell it because the global trend is bearish.
The best pattern to enter the position will be a huge candle. If the price will approach slowly it will be better to wait and watch.
Push like if you think this is a useful idea!
Before to trade my ideas make your own analysis.
Thanks for your support!
DXY Bearish View by ThinkingAntsOk🔸 4H CHART EXPLANATION:
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🔸Price bounced at the Resistance Zone.
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🔸After that it broke the Trendline of the Corrective move.
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🔸Now it is facing the Previous low, so, we are waiting for a brekout of this level to confirm the view.
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🔸 Will look for a lower timeframe bearish setup.
🔸 DAILY CHART ANALYSIS:
SPX500/USD (July 5)On the lower time frames we have broken an ascending channel and price also rejected and formed a double top. Price has huge potential to the downside: the beginning of the lower time frame channel, the longer wider ascending channel support, and the beginning of the whole structure.
💵 Dolla Dolla Bills Y'all. (DXY)😯 The almighty usd is at a critical point of Resistance as it compresses for a major move.
The green triangle is your zone of compression. I analyzed this chart not too long ago and spoke about how this Resistance level would be a strong level. We continue to fight as the monthly and 2 month start to compress and shift red with the ema dots indicator below. Once the support or resistance on the triangle breaks that will show you the next multi year cycle of where the dollar wants to go. Breaking down would result on a lower low and a lower high on the major view of dxy.
It almost resembles the same patter from 1986 to the early 2000s, a massive cup pattern.
A breakout to the upside would be extremely bullish.
Major long term support is the green arrow on the bottom of the long term downward channel that we are currently in. Keep on printing that mooolahh 🤔
Hope this helps! Have an awesome trading week! 🥳
🥇MLT | MAJOR LEAGUE TRADER
DXY to rise later this weekDXY technically is sitting on the critical support level and it seems to be gaining power from it to climb towards the resistance level. It is currently at the oversold position in terms of several indicators.
FED's decision on interest rate will be decisive for the path of the US dollar index.
Note: Interest rate seems to be staying constant.
U.S Dollar Index (DXY) Bearish View by ThinkingAntsOk🔸 4H CHART EXPLANATION:
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🔸 Price is moving on a range.
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🔸 At this moment, it is facing the Ascending Trendline of the consolidation.
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🔸 If it is broken, then it has potential to reach the Support Zone.
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🔸 Will look for a lower timeframe bearish setup once the direction is confirmed.
🔸 DAILY CHART ANALYSIS:
Bullish piercings at yearly openRed line is 2019 close (2020 open).
Considering we are above Kumo cloud both on daily and monthly plus having 2 bullish piercing patterns on daily - price should keep rising.
Price is also making higher lows on daily.
Also observe - price formed massive diamond bottom bullish reversal pattern on daily since Dec 2019.
It means dollar will strengthen as USDCHF is correlation "clone" of dollar index (DXY).
For educational purposes only.
USDOLLAR's EMAs Reverse on Daily timeFurther to our previous article , FXCM's USD index, USDOLLAR, has reversed its technical makeup. The EMAs are looking to turn negative (green ellipse). If the EMAs develop angle and separation to the downside the green 5-day EMA will be below the orange 13-day EMA, and the orange 13-day EMA will be below the black 34-day EMA. This will be a testament to the Fed's unlimited QE policy, which is looking to devalue the greenback. As long as the USDOLLAR continues to churn sideways the EMAs will continue to whipsaw. We will watch the situation for a trend to develop; this which will make price action clearer.
Dollar set to break 2016 highDollar is set to break 2016 high.
This I can conclude from multiple confluence: halfyearly A-pivot breakout, Wolfe projection, dragon pattern projection, DeMark gap breakout, DeMark breakout projection confluence, Camarilla monthly R4 roof breakout, false test of the last LL and Woodies pivot projection´s confluence with 2016 high.
DeMark breakout projection coincides with last Month Woodie R1.
Wolfe projection gives us the speed of the move - by May 19 price should reach Wolfe projection.
Woodies R4 tells us from dragon will draw its tail (as it was with yields and bonds in March - their collapses stopped at Woodies R4).
Dollar will stop at Dragon´s 0.61 FIB (usually price ranges here) - before Quarterly A-Pivot (usually price stalls before this pivot ) breakout.
Because Dollar is set for a rapid move up, there is likelihood gold might fall - usually they are negatively correlated (though recently they trended up together).
Most markets will go red, everything that is pegged to dollar including crude oil. We are likely to see rapid falls in SP500 , EUR, GBP (GBP is gonna fall faster than EUR - see my EURGBP analysis), NZD (rising wedge bearish continuation pattern) and BTCUSD (Bitcoin reached its ultimate daily Kumo cloud resistance area from where we are likely will see a drop).