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Dxyanalysis

DXY 4HR ANALYSIS READ DESCRIPTIONThe US Dollar Index (DXY) is currently hovering around a crucial support area ranging from 104.1 to 104.3. The significance of this support zone lies in its potential to dictate the future direction of the dollar. If the support holds and the price action confirms a bounce, it could signify strength in the dollar, potentially leading it towards the 105 level. Conversely, if the support fails to hold and the price breaks below it, we might see the dollar weakening further, potentially targeting the 103 level. Examining the technical aspects, several indicators suggest a bullish outlook for the dollar. The Moving Average Convergence Divergence (MACD) indicator is signaling a buy, indicating the potential for upward momentum in the dollar's price. Additionally, both the Exponential Moving Average (EMA) and Simple Moving Average (SMA) from the shorter 10-day to the longer 200-day periods are suggesting a buy signal. This alignment across multiple moving averages underscores the strength of the bullish sentiment in the market. Analyzing the recent trading activity, the last day's trading summary reveals a predominantly bullish sentiment towards the dollar. With 45 buy signals, compared to only 4 sells and 7 neutrals, it's evident that market participants are largely optimistic about the dollar's prospects. This positive sentiment could further support the case for a potential rise in the dollar's value, especially if the support area holds and price action confirms a bullish reversal. In summary, the US Dollar Index is currently testing a critical support zone, with potential implications for its future trajectory. Technical indicators such as the MACD, EMA, and SMA are suggesting a bullish bias, while recent trading activity reflects a predominantly bullish sentiment. Traders should closely monitor price action around the support area for confirmation of either a bullish reversal or a breakdown, which would guide their trading decisions accordingly. As always, risk management remains paramount, and traders should implement appropriate risk mitigation strategies to protect their positions in case of unexpected market movements.
TVC:DXY
by MOAZAM1133
💡 DXY: Forecast Next week💲DXY: Last week, DXY had a surge after the FOMC meeting and reached its highest level of the week around 104.2. Regarding technical analysis, we can see that DXY has broken through the Downtrend line and the key level 103.5 - 103.7. With this development as well as the strong increase in the last 2 days of the week, I will appreciate the upward trend for DXY for the new trading week. The target area for DXY will be the next key level area 104.5 - 104.7. You can wait for DXY to back test the trendline and key level around 103.7 and create a reversal signal to continue buying positions.
TVC:DXYLong
by Stone_Haven
DXY Index Can Go Up by Classical Technical Analysis Pattern🚀🏃‍♂️The DXY Index is moving in the 🟢 Support zone($102.87-$102.43) 🟢. 📈 Regarding Classical Technical Analysis , the dollar index has successfully formed an Inverse Head and Shoulders pattern . 🌊According to the theory of Elliott waves , the dollar index has completed a Zigzag correction(ABC/5-3-5) in the 🟢 Support zone($102.87-$102.43) 🟢. 🔔I expect the DXY Index to rise to at least the 61.8% Fibonacci level and Resistance lines . U.S.Dollar Currency Index ( DXYUSD ) Analyze, 1-hour time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
TVC:DXYLong
by pejman_zwin
9
DXY (U.S. Dollar Index): Potential Upside Breakout on 4-Hour 📈The DXY has completed a target of a previously identified channel pattern on the 4-hour timeframe. A double bottom formation has emerged near the channel's support level. ➡️Analysis: A retest of the double bottom's neckline (around 103.318) is anticipated. A bullish breakout scenario is developing, with a potential upside move towards the target at 104.992 if support holds at the retest area. ➡️Key Levels: Support: Double bottom neckline (103.318) Resistance: Former channel resistance (104.992) ➡️Overall Bias: Bullish based on the double bottom formation and potential breakout from the channel pattern.
TVC:DXYLong
by UnknownUnicorn6353257
Swing trade shorts for USD index (DXY)A potential swing trade short has presented itself on the daily chart. DXY failed to closed above 103 and formed an inverted hammer on the daily chart, and its upper wick met resistance at the 38.2% Fibonacci level. Daily trading volumes also declined whilst prices rose gradually, against the prior (and more aggressive) leg lower. This suggest the -day rise is corrective, hence the call for another leg lower. Bears could fade into rallies within Tuesday's candle with a stop above and target the 102 area, near the 61.8% Fib level and high-volume node.
ICEUS:DX1!Short
by CityIndex
DXY Index will Go Down to next Support zone✅ DXY Index has succeeded in completing a Rising Wedge Pattern near the 🔴 Resistance zone($105.90-$104.64) 🔴. 🔨DXY also managed to break the lower line of the Rising Wedge Pattern and is currently breaking the 🟢 Support zone($104.30-$103.89) 🟢. 💡Also, we can see Regular Divergence(RD-) between two Consecutive Peaks . 🔔After breaking the 🟢 Support zone($104.30-$103.89) 🟢, I expect the DXY index to continue declining until the next 🟢Support zone($102.86-$102.420)🟢 . U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-hour time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
TVC:DXYShort
by pejman_zwin
4
Gold and Silver We had a nice week for gold and silver. Both rallied higher as DXY fell and reached below 103. The level that we have been waiting for in the past weeks. Now that DXY had a nice weakly bearish candle closing below 103, what should we expect for gold and silver? Would this rally continue this week as well? I don't know. I'm just enjoying the ride. However, there will be always a correction. so let's talk about that. As you can see silver exactly followed our green scenario in the past three weeks. Gold also moved in the direction we expected and surprised me with its vertical move. 😁 I think this week we can also see green weekly candles in gold and silver and a big red candle in DXY. However, in case of a correction at THESE PRICES, these are my expected levels for gold, silver, and DXY. GOLD: A strong support for gold would be $2040 - $2080 area. SILVER: A strong support for silver would be $23 - $23.5 DXY: A strong resistance for DXY would be 103.5
OANDA:XAUUSD
by SamanFx0
DXY Dollar Index Technical Analysis and Trade IdeaThe DXY is currently trading within a well-defined monthly sideways trending range. Price action is testing a key support level, indicating a possible retracement towards previous resistance. A bullish break of the current 1D/4H downtrend, followed by a retest and failure of the range, could present a potential buying opportunity. Disclaimer: This analysis provides a technical perspective and should not be interpreted as direct financial advice. Trading in commodities involves significant risk. Before making any investment decisions, please consult with a qualified financial professional and thoroughly assess your own risk tolerance.
TVC:DXY
by fxtraderanthony
DXY Weekly Analysis "The DXY seems to be retracing from 100.615 to take liquidity at 104.565, and we've observed significant price reactions in the area since Monday, November 13, 23. This suggests that the DXY is currently showing efficiency and may be inclined to move lower towards 99.559. However, reaching 99.559 might face resistance due to a "shield area," which could potentially cause the DXY to struggle on the downside. It's possible we'll witness the DXY lingering around the red shaded area at 101.910 for a while. If the price breaks below this level swiftly with large downward candles, we anticipate further downward movement towards 99.559. Otherwise, if it fails to break below 101.910, we'll provide an update accordingly."
TVC:DXYShort
by Deotrade1