Dollar_index
Impressive reversal pattern on the daily with the dollar.Inverted H&S
Break Even Failure Rate 11%
Average Rise: 45%
Throwback Rate 65%
Percentage of Price meeting price target 71%
Trend: Downward leading to pattern
Price: Must have something to reverse, so if the decline leading to the pattern is small, expect a small rise.
Volume: Highest on left shoulder or head
“A short-term drop (0-3 months) leading to the pattern results in the best postbreakout performance. “
"A higher left shoulder valley when compared to the right shoulder valley results in worse post breakout performance." - so one could assume the inverse is true? a lower left would result in Better breakout performance??
Breaking right to R3, and not passing on first go is not unusual.
With a potential bottoming pattern - right now I'd say the trend for the dollar is to hard to call frankly any trade on.
I'm leaning bullish on the dollar, which sounds insane, and does not bode well for commodities - but this pattern on the daily is indicative of a reversal in the dollar. The dollar folks may be getting higher here despite "brrr". Keep in mind how poor the velocity of M2 supply is right now. And keep in mind the Fed giving guidance that rates will be low for years is hinged to their confidence that essentially inflation is really not coming, certainly not hyper inflation or anything high. Very interesting to see if the dollar has found a bottom here. Not advising any trade right now.
DXY : 3 pockets of sell side liquidity ready to be raided!There are 3 pockets of sell side liquidity right below us, which are ready to be raided!
Short term : ICEUS:DX1! will head lower in search of liquidity
Long term : ICEUS:DX1! will go higher once liquidity pockets have been raided.
Also, lower DXY means higher S&P in the short term, lower in the long term.
The rally has only started. Wyckoff accumulation + fundamentalsAs we expected American Dollar rallied last week. The price forms Wyckoff accumulation on a daily chart. It makes sense to look for new entries when the short-term oscillator gets oversold. I got so many questions last week about DXY and most of them were like – ‘Why do you expect a rally if US data is so weak?’. Well, the dollar is not just a currency, it is a safe haven. Besides, it is undervalued, unlike gold. We still have a lot of risks related to coronavirus and its impact on the economy. It can trigger a significant rally in DX. Besides, there is a strong setup in this market:
The weekly pinch-paunch indicator is 58 (a sign of trend change)
The valuation model – undervalued
COT – bullish
Intermarket forecast – bullish
Seasonal – bottom at the beginning of October
With that in mind, we want to look for and take buy signals using any trading entries.
DXY DROP DOWN AT THE CORNERLACAGEHEE AYAAD UGA FAAIIDAYSAN DOONTAA OOS U DHACA DOOLARKA EE SOO SOCDA?
WICH PAIRS WOULD YOU TAKE ADVANTAGE OF THE UPCOMING DOLLAR DROP DOWN?
DXY, INCOMING NEWS EFFECTWith the recent positive moves surrounding the dollar, the descent might not come immediately as expected, we might see another turbulence to USD pairs before we begin the zooming. TRADE WITH CAUTION
Dollar Index - A Long Term Trend is Starting The reasons and stories behind it are explained before in Euro analysis. Check out the "related ideas" section 🧡
USDOLLAR : Go long against trapped sellersThere are a bunch of trapped sellers below previous month low and current month low - who would love to exit when price comes back to them - giving us a long entry.
Look to trade each zone with a 2R risk:reward ratio.
Dollar Index Rejected at Pitchfork Resistance (MONTHLY)DXY rejected for the second time at monthly pitchfork resistance, currently sitting at 100SMA Monthly support. Short term bounce potentially, but mid term to long term looks bearish.
Is It Bitcoin Time? Dollar Index at 2020 LowThe Federal Reserve’s decision to let inflation run while keeping interest rates low is helping boost crypto, Darius Sit, managing partner of QCP Capital, told CoinDesk.
“The market was looking to the Powell speech to see if there’d be any hawkish indications – clear plans to end liquidity injection and cheap money,” Sit said. “There was no sign of hawkishness so the party has resumed.”
Sit noted the continued decline of the U.S. Dollar Index, which measures the greenback versus a basket of global currencies. The index continues to drop, down 0.12% Monday and hitting fresh lows for 2020.
We are close to entry point in dollar. ExplainedWe have discussed previously a potential rally in the American dollar. Now we are getting really close to the potential entry. However, accumulation is weak. That means it will take another week or two to get a signal. Accumulation builds momentum. That’s why it is so important. We have very strong fundamental setup for DXY rally:
COT – commercials are heavily long
Evaluation model – the dollar is undervalued
COTSI Index – very high
Intermarket forecast – upside.
We need a technical signal to confirm the coming rally. It always takes some time to get one once we have a fundamental setup. So, likely we will see a bit more of a rally coming in a few sessions, followed by a pullback. It will give the dollar enough time to build momentum and form a signal to go long.
Dollar potential entries. ExplainedWe discussed bullish fundamental setup, but still no entry. There is a clear trendline on a daily chart. Breaking above is an entry. The most conservative traders can wait till DXY breaks and hold above 7 days high. It has been a long time since the dollar did that. So, breaking and holding above is sign bulls have got the strength to reverse a trend. The most aggressive traders can enter once and if higher low will be formed before breaking the trendline. But this trade is too risky for me. This market has a good fundamental setup and you can use any entry technique to pick up a trade.
DOLLAR INDEX (DXY) WEEKLY ROADMAPDollar Index weekly analysis based on global combination of pitchforks and Fibonacci expansions.
dollar still ready to go bullishAn update on dollar index.
we have been experiencing some sideways corrective structure, we expect a break out to the upside soon
DXY UpdateHello, everyone!
Kindly ask you to read Related idea first.
UPDATE:
- After facing the resistance this instrument continued its movement within the channel with some false breakout. In my opinion, we might see the further movement in a couple of days.
Good Luck!
DXY Weekly Analysis: From 92 to 122.Simple combination of pitchforks and fibo extensions are on DXY chart.
Movement to the last weekly high is expected ~ from 90-92 to 122-124.
Silver ... another wave up brewingSilver ... another wave up brewing. See my chart and notice pricing is going up in the last few bars in the 4h against a negative red ROC. Since ROC indiactor (top chart) is lagging. It it'll print the green ROC on a green most of all times.
I'm in AGQ for a small position and short day trading play.
Dollar Index REVERSEHello, Traders!
With the beginning of the new week, DXY shows some reversal signs. For the past 2 weeks, this index has found solid support above 93.
On a local 4H Timeframe Support and Resistance zones are created, so we need to pay close attention when index is near those levels.
If the breakout occurs, the FIRST target is 94.5 level.
Good Luck!
Dollar bearish in the coming years 📉I have a hard time being bullish on the Dollar in the coming years.
Bullish for #Commodities
daily analysis of TREASURY WINE ESTATES Hi friends
the graph of this market shows with a very high probability a downtrend but at the same time you have to be vigilant of the change of the same market towards the opposite direction
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