Lost support, headed down to the next one as the chart shows.
I was looking at this because I want to short Japan & Korea, but it's best to wait until the dollar stops tanking. Looks to me like it will hit support next Friday, probably on the usual Friday pump.
1. Dollar is looking for direction (will it bounce off this level or will it drop/ and how much?)
2. NFP tomorrow is HUGE data coming out and will push Dollar over or off the current level (price is now on a crucial support level )
3. Next inflation data (Dec 10) and trade balances will be crucial data
4. Dollar price will affect most of your trades:
- metals...
Dollar bears love hearing that Joe Biden (if and when he takes control of the White House) will appoint Janet Yellen as the next Treasury secretary, making Yellen the first woman to hold the position.
Traders see Yellen as a "dove", meaning she should be very accommodative and a strong proponent of rates staying lower for longer. Also, since she was formerly the...
Previous talk about USD destruction, etc. have come a long way, and the USD indeed has devalued due to fundamentals. However, it broke out of a falling triangle/wedge, tested and is on the break out. For whatever reasons, the skew in the markets have pushed the USD too far down, and it is time for a USD rise. Clearly, sparked off by fear and such... so much so...
The USD Index DX1! had a bullish breakout from near the end of a wedge.
This is a legit buy signal and appears to be a larger trend change, a after bullish divergence (on the MACD), with very big consequences... as it all leads towards the US Elections.
System Buy Signal generated, MACD supportive and crossed up into the bullish territory.
Be aware and beware!
Expecting a bullish correction on Dollar Index DXY after such a strong sell-off. Weekly supply level located much higher where we will be able to think of short positions on the Dollar Index DXY. The EURUSD forex cross pair forecast and analysis is very similar but we are expecting a bearish correction instead. EURUSD and Dollar Index DXY are inversely...
We 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...
DXY has successfully tested the 92.50 Support today twice. If it holds then on the 4H chart (RSI = 39.680, MACD = -0.240, ADX = 46.240) then that is a solid sideways opportunity within the Support and the 94.00 Resistance (which has also been tested twice (red arrows). As you see the MACD pattern is quite similar with that of the June consolidation.
** If you...
Dollar Index daily analysis based on global combination of pitchforks and Fibonacci expansions.
Uptrend Confirmed .
ENTRY: 97.51
TP1: 99.23
TP2: 100.96
SL: 96.74
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Historical trend tell us that at the moment the DX1! US DOLLAR INDEX FUTURE is evolving above his past long range and might return to it from next month.
The probability is increased when we see that there is...
Pattern: Rectangle on 1D.
Signal: Bullish as a candle of such strength has led to a new (Lower High) within the Rectangle on all 3 previous occasions.
Target: 100.80 (Lower High on the dashed line).
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We can see that there is a clear range illustrated by the market . The top and bottom blue lines are the new support and resistance.
We have two clear reasons to see that the possibilities for the market going bullish increasing significantly :
-The formation of the candlesticks on the support line, taping the line to rebound .
-Combined with the strong...
EURUSD goes in line with my expectations posted in the map earlier (pls see related).
It reached the upside target on Friday and then collapsed.
All minimum targets have been hit, so it can start now wave (y) down to complete huge wave X.
The wave (y) = wave (w) hits right in the area of the former low at 1.0636.
This will be the target.
Wait the pullback and see...
