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Dollar-index

DXY testing major support, potential bounce!DXY is testing major support area at 89.37 (Fibonacci extension, horizontal overlap support, fibonacci retracement) and a strong bounce could occur at this level to push price up to our next resistance at 89.93 (fibonacci retracement, horizontal overlap resistance). If it breaks this intermediate resistance, we could see price rise much further to major resistance at 90.43 (Fibonacci extension, horizontal swing high resistance). Stochastic (89,5,3) is seeing strong support above 2.5% and a corresponding bounce could occur at this level.
TVC:DXYLong
by ICmarkets
Dollar index (DXY) Bollinger Squeeze 90.52 to 90.30 area saw bear momentum take the dollar down, but ever since its been coming back up to retest broken support. We are currently seeing bollinger bands narrow down and likely a move will happen soon. Price action tells me that we are still in a bear trend and we would have to be careful if thinking about buying with the landmines around 90.30 and 90.52. If we are able to break it clean we could see the next target being in the upper 91's. If the price keeps getting rejected at resistance we will likely head back down to local support.
TVC:DXY
by atovar10
DXY (DOLLARINDEX) - Crossing ChannelDXY is bearish , although currently is a corrective 4th wave of a 5th wave within a 4th wave correction of a 5 wave pattern, confusing eh?, I think we may see a head and shoulders (follow the arrows) to finish this phase, I'm seeing an end to this phase around 6-9 April and a resumption of the down trend (wave 5)within the channel. if this analysis is correct this should be the end to falling oil and indices and start of a new bullish phase through to August/September. Whilst I no longer trade due to corruption in the Forex marketplace (false prices quotes, getting stopped out prematurely etc.), I still keep an interest!
TVC:DXY
by Trendhopper
TECHNICAL ANALYSIS: US DOLLAR INDEX – MARCH 19-23, 2018The US Dollar Index is still under pressure from the market. The higher inflation figures announced or the dismissal of Rex Tillerson advisers have resulted in a suspicion of President Trump's policy or the prospect of trade wars due to tax increases or policies to protect the United States's benefits. As a result, the market price of this index still under pressure. However, when viewing the daily chart, the chart shows pullback. It is possible that there will be a price reversal in the coming weeks. If the price can close above the resistance level at 90.89, it is likely to be uptrend and can reach resistance at 92.51 and 94.00. If the price closes below the support level at 88.20, there is a chance that the price will continue in downtrend.
INDEX:DXY
by investorresource
2
DXY: Dollar Index - 12 day Continuation Pattern OverDXY Dollar Index The DXY counter-rally (far left arrow) shows a 12 day continuation pattern from 1st December to 12th before DXY falls out of the parallels as the decline continues. The right- hand arrow also shows a 12 day continuation pattern from 1st February to 12th before DXY once again loses the parallel and begins to fall away again. Having broken down through 90.02 it should fall away to the 89.61 line and then begin to put up more of a fight - can dip to 89.51 and bounce and whipsaw at 89.61 to 89.51 and maybe spike as low as 89.30 but DXY must hold here at lowest today to avoid another retest of the lows at 888.72 - 8843 range. So far this DXY rally is no more than a continuation pattern within the overall downtrend. But Dollar bulls still have the minor double bottom at 88.50-88.40 on their side and will likely fight hard to protect these levels again if retested later this week.
TVC:DXYShort
by sumastardon
DXY Dollar Index - Basing ActivityDXY Dollar Index We were looking for DXY to show signs of bottoming prior to potential reversal to the upside last week. It made a double bottom/slightly higher low showing a loss of downside momentum, the first signal needed to show a change is in the air. Some may remember the way that Gold shifted parallels just as DXY is now doing prior it bottoming out in mid December...now we have the same behaviour being displayed on DXY chart. Today, DXY is now pushing the upper parallel with near term resistance at 89.30 - it's in a small continuation pattern running under the parallel which at some point soon is likely to pop to the upside - but so far we have no great weight of evidence that DXY is doing much other than consolidating in a 120 pip range at current levels. We do have a double bottom which has resulted in range trading so far, but no higher high to signal a clear reversal as yet. Dollar bulls have to take DXY through the parallel and then above the lines of resistance at 89.30 and at 89.51 and finally above 89.65 to really start attracting other buyers - but until they can achieve this DXY is more likely to range trade, with some big green candles more likely to emerge now than big reds, and the price action after that green candle being more gentle consolidation prior to the next green candle emerging. So small bursts of upward pressure followed by mild but longer lasting consolidation - dull, grinding price action in near term but most likely with an upward bias. Still prefer to buy dips here though not aggressively so yet. Need to see 89.65 broken above and held to turn aggressively bullish of DXY looking for 90.19 initially and then, after consolidating, to 90.99 and then to the 91.80-91-90 range. On the downside, DXY has to break below key support at 88.43 to turn negative again in near term down to 87.70 where it becomes a buy again on any such weakness.
TVC:DXYLong
by sumastardon
DXY Dollar Index: Approaching reversal pointDXY Dollar Index Long Term We've been aggressively bearish of the Dollar since that first break below 98.5 back in early May last year. Down another 11% since then it's coming time finally to think about reversing back long again soon. DXY has already hit and bounced from the support line at 88.44. Below here lies a long term dynamic support line which has effectively stalled all Dollar declines since 2011. It lies at 87.70 and even if DXY suffers one last decline from here it should halt at 88.44 and at absolute worst at 87.70 during the course of this week - we should see the final low put in this weekcoming , and likely by the following week at latest if we don't hit the bottom this week. Look to close out most shorts across the dollar pairs into this final selling climax if we see it materialise over the next few days. Swing traders should now, finally, be looking to follow suit too. DXY Shorter Term Last week DXY made a new low at 88.44 before bouncing 1% to 89.51 resistance line with a high at 89.53...The 88.44 level is one of two likely levels to look for a reversal in trend, the other being the longer term dynamic support line, at 87.70 now. If the first level is to be the reversal point DXY will continue rallying from here and not break below the tiny rising dynamic directly under price right now...then comes the bigger test: it has to break above the upper parallel and break 89.53 and then hold on the retest - that would flip DXY back to near term positive and send it back to 92.62 and the falling dynamic resistance line shown on the chart above, where it's next major challenge will most likely lie. Follow that break if we see it materialise at any point this week Downside If in the alternative DXY loses the little dynamic holding it up and then falls below 88.88 it will fall back to 88.44 again and if it cannot base there and make a double bottom it will fall away to the second key level at 87.70 - at which point it should start to find some support. If so start closing out dollar shorts and look to build longs from here. Otherwise, the safer/less risky option for swing traders is to forget about bottom fishing wait to see at what point DXY finally exits the upper parallel of this impulse wave - which has, so far, controlled all upside potential for DXY throughout this current down-wave - and follow that break when it eventually comes, looking for 92.60 initially.
TVC:DXYLong
by sumastardon
DXY Dollar Index Trying to put up a stand at 91.76 supportDXY Dollar Index The Dollar Index has fallen to the next blue line of support 91.76 after an intra-day low at 91.75. It's trying to hold here. It's still trapped in a near term downwave and struggling to escape. It's already made one attempt to escape the down-trend and is trying again now. There are pins forming below the low and above it too on the 2 hour chart, denoting conflict/confusion here. For the bulls to win some respite they need to force DXY above 91.95 and hold it there (and no lower than 91.92 on a retest once 91.95 is taken) to attract more buyers up to 92.05-92.12 range where DXY will likely turn back down again. For DXY to show it's turning back up from that point it will have to take back 92.12 and then turn 92.04 into support when tested from above. Will need to see something like this kind of price action to convince that DXY has more upside to 92.49-92.55 On the downside the next support below 91.76 lies at 91.52 with major support/maximum likely downside target at 91.02. A move below any blue line by more than a couple of pips is likely to trigger further weakness back to the next one.
TVC:DXYShort
by sumastardon
1
DXY Dollar Index Trying to Base hereDXY Dollar Index Update Near Term Neutral but Dollar Trying to Base DXY did come off from where it was meant to last week but has put up more than just a fight so far in the 92.74-92.50 range. The fight back was to be expected, but it's doing better than envisaged so far here - and these conclicting signals urge caution now ...no interest in getting involved in a battle of whipsaw here but will look to back the winner again here when one emerges...DXY has gapped up today, double bottomed and left a pin bar lying around in the space between the two blue lines of fixed support shown on chart...bullish signals. But it's still trapped within the parallels which are trying to force price lower. Something has to give here soon. ...A break above the upper parallel would be the next bullish signal from DXY - look to get long DXY on the next retest of the parallel from above, once broken to upside, and get long USDEUR and short Gold on this development too. On downside DXY has to stay under the upper parallel for the bears to keep control from here - then they have to force DXY down to fill the gap today at 92.89 and then push it below 92.55 again for DXY to turn negative again from here. As it stands the bears are beginning to lose this battle, not enough fire-power to force DXY lower from here by the look of the chart. Early hours of this battle, still, but increasingly the bulls are beginning to wrest back control here. Confimation will come when the upper parallel is broken and survives the next retest. At that point we look to short gold (if signals there are not already given) and get long USDEUR.
TVC:DXY
by sumastardon
DXY Dollar Index Close to collapse againDXY Dollar Index Close to collapse once more The last rally was 77 pips. this one at 93.27 high is the same. DXY will either fail here, the most likely spot, or at 93.49, just 22 pips higher. It should fall away by 2.4% to 91.05. Good for EUR gold, silver, copper longs and baby Alts who need a break and maybe oil too for the next few days. Asusual about 3 wise men will read this comment. It's probably one of the most important there is. Sensible you:)
TVC:DXYShort
by sumastardon