DXY reversal. Could go to 97.50ishLooks like DXy has completed a head and shoulders reversal pattern.
MAs crossed over. MACD in bullish momentum.
Could go test 96.60 (200 day MA) and go beyond to 97.50ish
Dollar_index
USD Index - Advance Into Resistance ExpectedWe start the week with price having rejected from the previous area of resistance turned support at 94.030 and is now looking to test next key resistance at 95.270. Next major resistance to the upside after 95.270 sits at 96.695.
USD Index - Breakout Hints At Further AdvancesWe start the week with the USD Index above key resistance of 94.030 hinting at further advances in the USD Index. A pullback and re-test of the 94.030 will provide a great chance to look for Bullish formations and patterns towards the target and next key area of resistance at 95.270
New Daily demand zone being created on Dollar Index around 94New Daily demand zone being created on Dollar Index around 94. Weekly supply level eliminated, long bias at Daily and Weekly demand levels
USD Index/DXY SHORT PROJECT (Daily)Good day, All!
The daily bearish DXY project is currently forming.
Once point 5 is shaped, it can provide quite an interesting short opportunity.
If this pattern works, it may also signify the continuation of the major bearish trend which started back in the beginning of 2017:
DXY - Daily Outlook - Inverse H&SDXY forming inverse heads and shoulders on the daily time frame, looking to extend to 96.30
DOES THE USD APPRECIATION MEAN BTC FALL?I expect the USD will appreciate in 2018, which may subdue the appreciation of BTC.
Not convinced on USD Strength...Looking at the technicals, DXY has attempted to break the fib line more than once. If you look at USD JPY it has tried to penetrate the 114.40 a few times. We are not far from 114.40 again or far from 94.00. If DXY breaks 94 and USDJPY breaks 114.40 then great, on we go...
USD Index - Breakout Of Resistance Hints At Further AdvancesWe start the week with the USD Index above key resistance at 93.455 leading to a Bullish bias in this market next week. A failure of resistance would pave the way for a re-test of support at 92.635 however as long as we remain above 93.455 we will only be looking for longs in the USD Index next week.
Dollar Index - More room to fall back before Bullish Movement?DXY Daily:
- Inverted Head and Shoulders on the daily. Would like to see a break of the neckline before making any big decisions on the USD Pairs
- Break and Retest of the descending channel
- Counter trendline being respected well currently
- Completion of right shoulder matches up with 0.5 / 61.8 fib retracement
DXY Dollar index need correction before December ratehike decideNeed to fall channel retest and collect power to break resistances.If you like please support with like and fallow.Thanks Check my other charts...
Bitcoin to 6000? If Bitcoin's bullish momentum will continue we could see the digital currency reaching 6000$ to complete a bearish AB=CD pattern.
The PRZ, based on the pattern completion and Fibs confluence is between 6000$ and 6300$
USD Index - Near Term Uptrend Still IntactAfter the breakout of an Inverse Head and Shoulders the USD Index hit the 93.635 area as highlighted last week. The near term uptrend is still intact meaning we are looking for further advances in the USD Index. However, price is currently at a key area of resistance (93.635) which has the ability to reverse the near term trend. As long as price stays above the 93.635 we will look to longs up towards the target of 94.63. A break below the 93.635 area of resistance would clear the way for moves back to the 92.865 / 92.565 area.
DXY UPDATEHello traders,
I'm expecting dxy to come back down to 92.28. that will be a perfect buying area with a TP of 95.50 or 96.60.from there we can look to short. Any thoughts?
Dollar Index broken weekly upper rangeGreat news for Dollar bulls. On the weekly time frame the dollar index has finally broken the upper range.
This is a strong indication that we might finally see a trend reversal and a stronger dollar over the next weeks.
Previous down trend lasted 25 weeks if you start counting from the start of the channel.
If you like to hold position for a few days and make good pips then next week look for buy entries on the daily and 4 hour time frame.
USD Index - Inverse Head & Shoulder BreakoutThe USD Index confirmed the breakout of the Inverse Head & Shoulder pattern last week clearing the way for further advances towards the 93.635 and 94.630 areas of resistance to the upside. A re-test of the broken resistance area of 92.565 turning support would provide a great area to look for long opportunities. Advances in the USD Index should drive USD Strength across the board next week.
Update - Two harmonic patterns in focus Gold is testing the PRZ of a bearish Gartley.
Last week Gold broke out of a trading channel... that's a bullish sign but GLD is still inside a resistance zone.
If it will break higher, the next potential Sell Zone will be at the completion of a bearish AB=CD pattern (pink).
In such scenario 130$, which act as resistance right now, will turn to potential support and therefore will be the first target zone.
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