Goldman Sachs latest Short idea: DXY SL 97.50 Target 93INDEX:DXY
If this one goes wrong, I am just going to call Goldman Sachs! ;)
Dollar_index
Go Short on DXYThere is a lot of sign for a downtrend in dollar index. Reactions to the trend line with bearish engulf patterns and the formation of candles talk to us about this bearish market.
Meanwhile there are some support lines but the serious one's are 94.79 and 93.84 so we have to check the market's behavior in these prices.
DOLLAR INDEX ANALYSISIn recent weeks the Dollar Index has moved within a rectangle. If we take the analysis on a "fundamental" level, it could be an inversion rectangle.
Yesterday, the Fed raised rates. In the early hours, the dollar strengthened. It was enough, however, a reading of the Economic Projections to understand that the dollar came out weakened by the meeting. Briefly, almost all data were revised downwards (compared to the previous September report). In particular, the GDP dropped from 3.1% to 3.0% for this year and from 2.5% to 2.3% in 2019. The rate hikes, forecast three times in 2019, fell to two (at the moment). So, fewer rate hikes and weakened economic conditions certainly don't help the dollar.
However, we have to take into account that, right now, it's not the best time to trade. In five days it's Christmas, and most of the big investors are currently out of the markets. So, everything becomes more complicated. In the medium-term, I'm convinced that we will see a drop in the dollar but in the short-term, anything can happen.
To all of you Merry Christmas and a New Year full of gains!!
Wacth Out Dollar Still Bias BullishAs you see on the chart daily above, this pair have many bullish confirmastion... So wacth out seller...
$DXY US Dollar Update - still within up channel, With markets crapping out, BREXIT going nowhere fast (quelle surprise), King Dollar $DXY keeps reasserting itself. The trend is still up, and the trend is your friend. $EURUSD couldn't break through the 1.1440 area, and 1.1180 still attracts. Full speed ahead, though admittedly, with many bumps. #FOREX
US Dollar Index heads for more riseTarget: 100.00
Risk: 95.80
Technical reasons:
The continuous move inside the ascending channel provides signal to continue the bullish trend on the short term and medium term basis, and surpassing 97.94 will push the index to 100.00 barrier.
The exponential moving average 50 supports the expected rise, and consolidating above 95.80 is important to continue the bullish trend.
Join our Telegram channel for instant market updates: t.me
$DXY Dollar Index Update - Still Bullish After a hiccupDixie remains above its upward sloping trendline, with room to run to 98. 97 continues to be the inflection point as it has been for several months now, but the trend is up, and remember, it has been up since February. Trends don't break easily without fundamental factors acting counter to the trend, so trade the trend, the trend is your friend. 1.1180 in $EURUSD still attracts.
DXY positionVery heavy resistance zone is unbroken as of yet. Clear and pronounced negative divergence. Yet still resisting the move down.
Just get the ...ck down from there. Will you?
DXY Trade Idea: Bounce or breakNote the broken level signals that price is currently in a downtrend. We will look for a slowing in momentum then a clear sign of a reverse in momentum.
Momentum is the same as volatility. Volatility is violence, the fight of the bears and bulls. We are always looking at places where we can buy and sell from places of strength and weakness. The great harbingers of strength and weakness are pinbars. When you see a candle that shows an increase or decrease in momentum, it'll come from a place where price action has shown the dominant direction of momentum in a visual representation. Candles tell you the story and the tape gives you the timing.
All the best in your trades
For More: drive.google.com
The dollar have to pass an important testThe U.S. and China have declared a truce in the trade war, and have agreed not to introduce new tariffs, and try to reach to an agreement in the next 90 days. As a result, the U.S. dollar has been languishing at lower levels while the stock markets have been rapidly climbing upwards.
It seems that investors preferred to focus on the positive signals and in particular, on the fact that there will be no new tariffs in the next three months.
The dollar will have to pass an important test. The dollar index fell by 0.5% this morning, testing the support area for its uptrend. The demand for risky assets has been growing and the main reasons were the expectations of a breakthrough in trade negotiations as well as the softening of the Fed's tone. All these factors may break the U.S dollar’s upward trend.
DXY 96 Dxy INDEX:DXY will probably go down to 96 at the end of the year.
People will be taking profits at the end of the year.
US Job reports is on the (+) side (at the time of this writing)
10 year bond is on the (+) side (at the time of this writing)
Inflation will probably go up a bit
Then we have an upcoming increase in interest rates
First quarter next year, the dollar will probably go up 96.5 or somewhere in that range.
Unless of course a political turmoil happens..
Dollar Weakness UpcomingLooks like massive head and shoulder almost completed (we are on top of right shoulder), reversal pattern that could be predicting a bear market up coming
also in the fib sweet zone of .5-618
thinking it will play around and drop next NY session but we will see what price action tells us
US Dollar Index [DXY]As long as the Fed continues to tighten and raise rates, I'm bullish the dollar. In the near term, however, if DXY shows weakness here I'll be looking for shorts unless there's a decisive break above 97 in the next few sessions.
DOLLAR POWER-PUFF BLUFF?The dollar is the global indicator for all stocks, commodities, bonds, currencies and economies. It's very important.
The dollar is bouncing at the trend-line and maintaining it's upward trajectory.
Our thought matrix is an IF-THEN scenario. This is the way of a sagacious discretionary trader because the market operates in an environment of uncertainty, anything can happen!
FUN
There's always something new on the charts and we are looking for patterns that show us recurrent human behavior in the markets. A trend is a pattern.
If it breaks, then we go short,
If it goes up, then we go long.
If it reaches the top of the upper trend line then we go short.
Remember, we are not only trading price action, we are trading the tape!
We always have to look at the bigger picture to get a clearer idea of what's happening on a chart at any given time. Support and resistance is the basis of price action. Trends are a derivative of support and resistance. You have to be aware of a few things in order to make a lot of profit. There're only 3 shapes (Square, Circle and Triangle) and only 3 dimensions (Vertical, Horizontal and Diagonal). These are important in determining the levels and areas of taking trades because they always find harmonic balance at this golden mean.
A break upward of the 98 area will be very telling!
The movement will be sustained until the trend changes. the break of the pattern will correspond with a trade confirmed in the dominant direction for medium-long-term trades in any international (local) market.
A crown rests on top of a head, which rests on top of a head, which rests on top of shoulders. Price moves in fractions of the same fraction.
The Golden areas are marking a zone of previous (fresh) Supply. Supply and Demand is not the same as Support and Resistance. We will monitor price at such a level and determine the appropriate action according to price action and the tape.
All the best!
***For more information click the link!***
drive.google.com
