DXY, ready to challenge the year's (2023) High.Ever since the greenback (DXY) hit the year's (2023) low at 99.595 on 14th July 2023 the price has steadily rise from the base of the descending channel and attempted to breakout on 17th August and finally broke out last Friday, 1st September on the back of the NFP fundamentals.
Last Thursday daily candle closed above the EMA-200 and also broke out of the descending channel with the Friday's candle.
The DXY is ready for an upside swing to a yearly (2023) high of 105.834 and potentially furthering up to 107.342 in the days to come. What an exciting time for the DXY.
DXY is adequately supported by the EMA-200, 100 and 20 on the Daily Time Frame.
Dxyanalysis
DeGRAM | DXY buy pullbackDXY is making higher highs and higher closes. It broke out of the descending channel.
Price action created a nice long opportunity where a couple of confluence lines up with the support level.
Previous resistance becomes support; 38.2% fibo level. On the W chart, price created a bullish pinbar, which is huge bullish sign.
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Dollar and other forex currency logic (DXY)The dxy price started getting rejection from 103.500, as it reached the htf supply zone
This supply zone is from 103.500 to 105.000
The currency fair as forex pair /usd will be benifiting with some sort of bounce as the dollar is cooling down
Where as currency pair like usd/forex pair for example usd/Jpy can get healthy correction keep them on your watchlist
And consider this post as confidence for your forex trading
DXY Rangebound Since Dec Don't Miss the Opportunity to Long It's time to dive into the world of currency markets and explore what's been happening with the DXY (US Dollar Index) since December. Despite the buzz surrounding Jerome Powell's Jackson Hole speech, the DXY has been in a range. However, fear not, as this article aims to illuminate this situation and present a compelling case for why now might be the perfect time to long the dollar. So, let's get started!
Understanding the DXY Rangebound Situation:
Since December, the DXY has displayed remarkable rangebound behavior, seemingly unaffected by various market events and economic indicators. This range has left many traders wondering about the potential opportunities. Even Jerome Powell's highly anticipated speech at Jackson Hole failed to break the DXY free from its confines.
The Call-to-Action: Long the Dollar!
While the DXY's rangebound behavior may seem discouraging initially, it's important to remember that within every challenge lies an opportunity. Now is the time to consider going long on the dollar, and here's why:
1. Economic Resilience: The US economy has demonstrated remarkable resilience amidst global uncertainties, thanks to solid consumer spending, robust corporate earnings, and a proactive fiscal stimulus. These factors position the dollar favorably for potential gains shortly.
2. Interest Rate Divergence: The Federal Reserve's commitment to maintaining accommodative monetary policies while other major central banks contemplate tightening provides a unique advantage for the dollar. This divergence in interest rates can attract investors seeking higher yields, further boosting the dollar's strength.
3. Safe-Haven Appeal: In times of uncertainty, the US dollar has historically served as a safe-haven currency. With geopolitical tensions, ongoing trade disputes, and the potential for market volatility, the dollar's safe-haven appeal will likely remain intact, potentially driving its value higher.
4. Technical Indicators: Despite the rangebound behavior, technical indicators suggest that the DXY is nearing essential support levels, indicating a potential upward breakout. This presents an excellent opportunity for traders to capitalize on a likely rally in the dollar.
Conclusion:
As traders, it's essential to stay optimistic and seize opportunities even in challenging market conditions. While the DXY has remained rangebound since December, it's crucial to recognize the potential for a breakout shortly. Considering the abovementioned factors and analyzing technical indicators, going long on the dollar can be rewarding.
So, fellow traders, don't miss the chance to ride the potential dollar rally! Stay informed, closely monitor market developments, and make well-informed trading decisions. Remember, every rangebound situation eventually breaks, and when it does, you'll want to be in a position to benefit.
DXY, to longThe DXY has formed a doji on the Daily frame which shows indecision in the price, however the DXY has been able to consolidate above the 103,917 support with a strong rejection wick above it which gives me a bullish signal to the trendline resistance at 104.991 with a possibility of breaking above the ascending channel to the next required resistance of 105.654.
This could cause the dollar quotes to sell in the coming week.
DXY LONG TERM TRADE SELLING
Hello Traders
In This Chart DXY HOURLY Forex Forecast By FOREX PLANET
today DXY analysis 👆
🟢This Chart includes_ (DXY market update)
🟢What is The Next Opportunity on DXY Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
DXY New Week MovePair : DXY Index
Description :
DXY Index is Following Bearish Channel in Short Term Frame and it has Breakout the Upper Trend Line it can Reject from the Previous Strong Resistance ( 104.578 / 104.668 )
And in Long Time Frame it is Following ELLIOT WAVES Theory , according to it will make its " 4th " Corrective Wave at Fibonacci Level " 61.80 / 78.20% )
Analysis of the dollar index in weekly timeTemporarily, the dollar continues to rise in a few weeks, and considering the emptying of orders in the 100 area, this rise is a fake rise for a deep fall to the 97 range.
After reaching the lower green area, the day of the incident begins. A big incident that may come with bad news...
In the weekly time, the dollar will reach 115, and on that day, other markets will bleed
I am watching...
DXY- What's up with the US DollarIn my previous DXY analysis, I wrote that, after the false break from mid-July, USD most probably reversed to the upside, and there are clear signs of this:
1. After the false break we have a strong bullish engulfing candle that confirms the old support (green rectangle)
2. Long-tailed Pin Bar candle that confirms the break above the falling trend line (red rectangle)
At this moment, the index is testing a horizontal resistance and yesterday we had a reversal candle.
In my opinion, this candle is not signaling reversal but, in the best case, a minor correction.
This correction should be considered a good chance to search for selling opportunities for USD pairs and my main focus is on EurUsd and AudUsd
🚨DXY crash after 🐮Bull Trap🐮🚨↗️DXY Index reacted well to the Resistance Line .
🌊According to Elliott wave theory, DXY completed 5 impulse waves at the resistance zone by 🐮Bull Trap🐮.
🔔I expect DXY to drop to at least one of the Fibonacci levels that I specified in my chart.
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-hour time frame⏰.
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📈DXY daily chart pattern📉TVC:DXY
CAPITALCOM:DXY
Hello traders, please check my previous ideas about the dollar index.
If the price stabilizes above the 3-hour Bollinger Midline, the probability of a bullish scenario and a break of the pressure zone (the area between the two trend lines) increases.
Otherwise, if the dollar index fails to maintain the support of the 3-hour middle Bollinger line (around the 102.5 level), the bearish scenario will continue to the 100.9 level.
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Is DXY Poised for a sell OFF?? Is DXY Poised for a sell OFF?
The market broke structure to the upside, on the 4hrs timeframe,
I expect the market to trade to a supply zone at 104. I expect the the market to start pulling back once we come to the supply region. we just have to be ready to capitalize on the position.
Exciting Shift in the Forex Market With USD aka DXYBrace yourselves as I bring you an exhilarating update on the current state of the US dollar (DXY) and its encounter with the formidable BRICS nations.
You may have seen recent headlines highlighting the growing influence of BRICS (Brazil, Russia, India, China, and South Africa) on the global economic landscape. These emerging economies have been making waves, challenging the traditional dominance of the US dollar and signaling a potential shift in the forex market dynamics.
Before you start panicking or getting overwhelmed by the constant stream of news, I urge you to take a step back and focus on what truly matters – the chart. Yes, you heard that right! While news headlines may grab attention, it is crucial to remember that charts are the ultimate source of truth for traders.
So, here's my call to action: Ignore the noise, tune out the sensational headlines, and instead, keep your eyes glued to the chart! Charts don't lie; they provide invaluable insights into market trends and potential opportunities.
The US dollar, a long-standing powerhouse, has faced its fair share of challenges in recent times. As the BRICS nations continue to strengthen their economies, their currencies are gaining momentum and threatening the long-standing dominance of the US dollar. This exciting development presents a unique opportunity for astute traders like you to capitalize on potential shifts in the forex market.
By focusing on the chart, you can identify patterns, spot emerging trends, and make informed trading decisions. Watch the movements of the US dollar and the BRICS currencies closely, as these shifts could open up new avenues for profitable trades.
Remember, excitement is the lifeblood of trading, and the evolving dynamics between the US dollar and the BRICS nations offer a thrilling prospect for those willing to seize the moment. So, keep your emotions in check, stay disciplined, and let the chart guide you.
In conclusion, my fellow traders, I urge you to embrace this exciting shift in the forex market. Disregard the news, trust the chart, and remain vigilant for potential opportunities that arise from the evolving relationship between the US dollar and the BRICS currencies.
Analyzing DXY's Upward PotentialI remain optimistic about the DXY and anticipate that its upward trajectory will persist, potentially tapping into significant Buy Side liquidity. Currently, I am monitoring two scenarios. The first involves a potential retracement back to 102.742 on either Monday or Tuesday, followed by a market ascent later in the week. The alternative scenario entails an initial upward movement to around 103.247, subsequent retracement to clear out some sell side liquidity, possibly touching upon a weekly IFVG and then embarking on an upward rally.
Given these possibilities, I intend to adopt a risk-off strategy, focusing primarily on short positions in major indices and the EUR/USD currency pair. I'll keenly observe how the market unfolds in the coming days.