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Dollar Index (DXY): Trading Plan Ahead of Payrolls 💵 Dollar Index is testing a support of a horizontal range on a daily now. Ahead of the non-farm payrolls report, watch carefully the intraday price action. The price is currently consolidating within a narrow range on an hourly time frame. Its resistance breakout can give us a strong bullish confirmation. Hourly candle close above 103.1 will confirm a violation, a bullish continuation will be expected at least to 103.25 Remember that a bearish violation of a support of the range on a daily will invalidate the setup. ❤️Please, support my work with like, thank you!❤️
TVC:DXYLong
by VasilyTrader
2
XAUUSD Technical Analysis 02.02.2024 1h chart– Thursday Daily candle closed strong Bullish at 2055.200 within Daily Resistance formed on Tuesday 16th January 2024, As per the Analysis posted yesterday (XAUUSD 01.02.2024 1h chart) the Buys played out exactly as anticipated. For Friday we have High Impact News event for the US Dollar. I’ll be looking for potential Buys above 2060.800 targeting 2066.200 for price to fill previous Daily High and Weekly Resistance (2072.200) for potential retest. I’ll be looking for Sells below 2051.300 to retest 30min recent Support (2045.500) and 4h Support (2039.000).
OANDA:XAUUSD
by SalimFX20
1
USD opportunity? Market overestimating March rate cut? USD opportunity? Market overestimating March rate cut? The market is only pricing in a 30% chance of a rate cut from the US Fed in March now. Is this probability too high still? Jerome Powell spoke after the latest FOMC decision yesterday and noted that it was unlikely that the Fed would be cutting rates in March. Why is the market still pricing in a 30% chance? Should it not be closer to 10% or less? So, according to this hypothesis, might there be an opportunity to go long on the US dollar until at least March? And then, thinking a little further past March: When the Fed does finally cut its rate, is there a play to make by anticipating how large of a cut they will enact? The Fed is known for acting a little late, so a 50bps cut, rather than a 25bps cut, is not entirely unlikely as they rush to loosen their grip on the economy if it begins overshooting their target (constricts too much).
by BlackBull_Markets
XAUUSD Technical Analysis 01.02.2024 1h chart– Wednesday Daily candle closed small Bullish rejecting 2055 level where Daily Resistance has been formed on Tuesday 16th January 2024. Despite Daily candle closing weak Bullish there is still a probability for price to fill the rejection and retest Daily Resistance if new Daily candle holds support above 2030s. I’ll be looking for potential Buys above 2044.900 targeting recent 1h Resistance (2052.400) and the 30min Resistance formed on Friday 12th January 2024 around (2059) . I’ll be looking for potential Sells below 2031 targeting 1h Support (2024.700) and Daily Support formed this Monday 29th January (2018.400). We have another high Impact News coming up this Friday for the US Dollar (NFP) so price could possibly form a small range on the 4h or 1h timeframe leading up to the event.
OANDA:XAUUSD
by SalimFX20
DXY Dollar Index Technical AnalysisThe DXY has demonstrated a notable rally on the 1-day (1D) time frame, exhibiting distinct range-bound price action as it operates within a previously established weekly distribution level. The absence of a discernible trend is evident, with the market remaining in a sideways movement for an extended period. With high-impact news events scheduled for later today, Thursday, and Friday, there is potential for a breakout from the current range, presenting opportunities with dollar pairs. It is imperative to clarify that this analysis is intended exclusively for educational purposes and should not be construed as financial advice.
TVC:DXY
by fxtraderanthony
USDCAD: Confirmed Bearish Reversal?! 🇺🇸🇨🇦 I see multiple bearish clues on USDCAD. The pair is trading in a bearish trend, lower highs are respecting a falling trend line. After its last test, the price formed a double top formation, and violated both its neckline and a support line of a rising wedge. These bearish signals indicate that the market may return to a bearish trend. I expect a bearish continuation to 1.335 / 1.330 ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
1
XAUUSD Technical Analysis 31.01.2024 1h chart– Tuesday Daily candle retested strong Key Level of 2050s exactly as mentioned on the previous analysis posted for Tuesday, Daily has rejected that level and closed small Bullish. I’ll be looking for potential Buys above 2039.500 targeting recent Hourly Resistance (2046.700) and Daily Resistance formed on 16th January 2024. I’ll be looking for potential Sells below 2031.000 targeting Hourly Support (2025.200) and recent Daily Support around 2018.500. High Impact News event ahead of the Wednesday trading session for the US Dollar so there is probability for price to range prior to news release.
OANDA:XAUUSD
by SalimFX20
🧭💡 Dollar Dynamics: Sideways Awaits Feds/ I wait for the NFP !Hey traders, the FX Professor here, addressing the buzz: Why the silence on the dollar? Let's dive into the dollar index's sideways dance, a chart that speaks volumes! Our journey has been stellar, riding the long wave from the year 2020, then nailing the short with the iconic 'I scream, you scream, and Joe Biden short' in October 2022. Currently, we're in a holding pattern, eyes fixed on the Federal Reserve. Will they begin to ease? My take: quite likely, with elections on the horizon. Yet, they need compelling data to pivot, and that's where our focus shifts to Forex pairs, gold, and silver. It all kickstarts with the NFP this Friday. While some eyes are on the Fed's Wednesday address, I suspect they'll play it close to the vest, holding off on major reveals. Friday's NFP could be the catalyst for change if it delivers the data the Fed needs to start slashing interest rates. With inflation talk taking a backseat, the spotlight turns to jobs and GDP. It's time to tune into the dollar index, prime our Forex accounts, because we're on the cusp of an exciting year teeming with volatility. The stage is set, and the anticipation is high. Join me this Friday on TradingView for live trading action as we embrace the volatility head-on. Let the games begin! One Love, The FXPROFESSOR 💙 Get ready for a volatile year and join the live trading action on TradingView: 🎢📈 NFP Trading Extravaganza: Ride the Volatility Wave with FX Professor! 🚀 Prepare for an exhilarating adventure into the heart of the financial markets! NFP day is my playground, and I absolutely revel in the twists and turns of volatility it brings. Link: www.tradingview.com
TVC:DXY
by FX_Professor
SIMPLEXeffects USDCAD OUTLOOK It's so obvious from what we have on the higher TF (H4 specifically) that we haven't had a change in the market structure being built up until now. We've been moving in a continuous downtrend characterized by the numerous lower lows and lower highs built... It is therefore only wise to look out for sell opportunities in the USDCAD market for the next 2 to 3 days until we thus form a new lower low... #simplexeffects #simplextradehub #thesimplextrader
Short
by Simplex_Tradehub_Official
2
XAUUSD Technical Analysis 30.01.2024 1h chart– Previous Daily candle closed Bullish around 2032.600 above recent Daily Resistance, forming new Daily Support around 2018.600. – Buys on close above 2037.200 targeting 4h previous Support formed on 12th January 2024 around 2044.200, Leaving Runners to the 1h Resistance formed on 16th January 2024 around 2051.200. – Sells on close below 2024.800 targeting Daily Support formed around 2018.600, Leaving Runners to the 1h Support formed around 2011.800. – High Impact News ahead of the New York session for the US Dollar, The main focus for tomorrow is on CB Consumer Confidence and JOLTS Job Openings, High volatility expected.
OANDA:XAUUSD
by SalimFX20