Dollar Index - ending diagonalIt's likely that the fifth wave is takin the form of an ending diagonal, so we're going to have a downward correction pretty soon.
Dollar_index
DXY on a potential rallyThe strong negative Standard divergence could trigger a short term rally to the down side before resuming it course and Bulls regain control of the market. We are then waiting for a clear breakout of the trend line to consider any sell position. fail to do so, we will still look for the perfect entry to buy. Remember to move stop losses to Breakeven as soon as the trade goes positive of about 200points.
Weekly analysis. DXY
AUDUSD Uptrend AUDUSD is showing signs of uptrend failing to fall below support while the US10Y is coming down to around 2.95 forcing the DXY to come down around 92.37.
Long-term speculation on U.S. Dollar indexBased on past 1M regressional analysis (neutral RSI = 49.761, ADX = 32.900, CCI = -23.1942, Highs/Lows = 0.000), mirror patterns usually occur on DX over long periods of time. Same recurring patterns are expected on the 1D time-frame, which is now bullish (even overbought on RSI = 77.665) looking for its first Resistance since its uptrend started (since March 27) at 94.100. A Rectangle is expected afterwards before a pull back to 91.010 in mid August to form the basis for the next bullish cycle into December 2018.
DOLLAR INDEX UPTREND CONTINUEAs the chart show:
1) Double Bottom.
2)Inverted Head and Shoulders.
3) Wave v of wave 3 just started, it'll be strong.
4) Wave count 1 - 2 - 3 may be better replaced with A - B - C , to indicate it is a corrective wave that all Dollar Index history is corrective waves.
5) Each two consecutive waves consumed 3 years to complete.
6) This means the final wave up will continue for 3 years, to the end of 2020 .
7) After that, starting 2021, it'll go down and test the trend line (the thick dark line.)
8) If it breakdown that trend line (the thick dark line,) say GOODBYE US. DOLLAR.
9) If it bounce back up, it may start a new uptrend.
10) We need to answer a question: DURING THE DEFLATION ERA, WOULD US. DOLLAR APPRECIATE IN VALUE?
DXY Expected Movement 1HDXY reached daily heavy resistance last week and rejected. I don't expect another try for a breakout.
For the time being, price is in a downtrend along the median line.
I expect the price will go down further until second support, which is at 91.80
But, be careful. Some important economic data will be announced this week, which might cause a trend reversal.
DXYDollar index just broke above a resistance zone. Trend is up, but RSI is above 70. I expect to see a flag or a retest, for RSI to cool down, but if not next resistance zone is the target. Let's see what happens next.
DXYDollar is at its very high, RSI over bought and already RSI broke trendline.
We should see a drop, very soon and it may be massive.
USDCHF simple breakdonwwe have 2 rejection from 1 level of resistance and beakout of trendline and double top,
Expecting a fall, if you find this analysis useful then like and commet ;)
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Will Nonfarm Payrolls Spark A Move Lower In The Dollar Index?!Hello Traders,
I hope everybody is doing great.
After I covered the EURUSD in the daily chart, let’s have a look at the equivalent instrument which is the DXY.
From the 2018-02-16 low to the peak of 2018-04-05 you can see clearly that the DXY has moved in a sideways to higher trend (No higher highs or lower lows). So it was just a matter of time when the consolidation breaks. Either to the upside or downside.
You can see that after the important 2017 resistance levels of around 90.99-91.31 broke higher, it accelerated in an impulse higher. That is a so-called trend acceleration cycle.
You can see that it has been trading higher in a narrow uptrend.
So what next?! Well, for me it is simple. The DXY is still in an intact downtrend, and any move higher should be taken as a correction. Markets never move in one straight line higher or lower, they correct, trend, and consolidate and so on.
With tomorrows NFPs coming up. I am expecting the DXY to get weak again. At least for a pullback lower.
The next important daily level is the resistance now acting as new support level of 90.99-91.31. Also, the DXY is currently sitting at the 61.8 Fibonacci Retracement from the decline of late 2017. It can be a possible turning point.
It can be the case that with the NFPs the DXY can spick higher to take some stops before turning lower like I drawn in the chart. Let's see.
This view will be invalid once DXY breaks 95.15 resistance.
Disclaimer: Trading is about going with the highest probability, nobody is 100% right and we need to protect ourselves in case we are wrong. That is why we need to always use a stop-loss when trading. Trade with care. This my current view, and any view present is not a trading recommendation just personal view.
Dollar trying real hard to break out for some upsideDollar is really trying to stay upfloat and breakout it's resistance zone (The blue line). It may well happen for a while, since on the weekly charts it's oversold, and still has room to go on the daily. But at the end of the day I have little doubt that the bigger trend remains bearish.
USD Index DXY.. Time to bounce down?DXY USD Index faces a strong resistance right now, is it time to go down for a while?
Bookmark this chart it's useful for forex traders.
Pattern completed - Target reachedEURUSD reached the target zone and hits 1.2
Now the bullish Bat is in focus
USD possible pull-back pointIt seems we were in a big correction structure (shown with dashed lines) and from here we can expect at least a pull back to 38.2% of recent up move or even deeper, it depends to the shape of pull back. (check the 4h chart too for finding possible entry point)
DXY in Daily Time Frame Short In Daily time frame created a clear bearish pin bar. which is confirm us it's showing bearish signal .
In my view it's stay on major resistance zone. now it's try to going on next support which will
make short.
DXY(Dollar Index) seems bullish now for future weeks!!!I see US dollar index (DXY) bullish for next weeks.
When we finish correction period, my expectation is that US dollar will regain its power against other currencies during next months.(April,May,June)
Technical Analysis details:
-I see divergence in squeeze indicator for trend reversal.(on weekly chart)
-Wave trend analysis shows that we are at the bottom on the weekly chart.
-Stoch seems healthy for future.
Also i observed a similar action on the past data of DXY which happened in 2010-2011 therefore it could be a good example for future movement.
I hope you like my analysis, have a nice day.
Berk
US Dollar Index buy up to 95.x and wait for sell signal there US Dollar Index buy up to 95.x and wait for sell signal there, the ending of Wave B Month Chart to go Wave C
US Dollar Indexweekly ...
USD Index was put up on 8th April and we pointed out the fact about the rise for the next couple of months.
After completing wave 5 which is a downtrend wave, a new uptrend wave has started in form of wave “B” and can rise upto the indicated area.
And after that we can expect a fall for USD Index.
In case Donald Trump gets re-elected for the next US president; this scenario becomes stronger and more valid...
