DXY Index Next Move ?Pair : DXY Index
Description :
Impulse Correction
Fibonacci Retracement
Bearish Channel as a Corrective Pattern in Short Time Frame
S / R Level
Rejecting from the Current Demand Zone
Divergence
Dxyanalysis
#DXYWe are in a channelized space of a decreasing trend of daily time.
Currently, we are witnessing a negative reaction in dealing with the ceiling with a negative divergence. It is expected that by breaking the resistance zone of 102.808 based on a combination of static and pivot point, it can touch the target of 102.455, which is on the static ceilings from the previous wave. has it .
After that, if 102.455 breaks, you can expect to touch the midline of the channel.
DXY OUTLOOKDXY is currently correcting for another push to the downside that may happen tomorrow London session. This means that any sell opportunity in xxusd is a trap, until DXY has given us another leg down to the fvg.
Buy on DXY DipStrong bullish trnd on current Dollar index.
Buy on the dip of the rally.
And take short term profit before the swing high.
DXY - understanding RISK ON or RISK OFFHi guys. Trying to get better at expressing what i see so This is for educational purposes. Ill try to express my take on the relation of DXY to either a RISK ON or RISK OFF scenario with my go to trading tools.
RISK ON = BULLISH
RISK OFF = BEARISH
DXY can be a powerful tool in TA when trading equities or crpyto currency. It is known to be inversely related to Equities and Crypto. Meaning when DXY goes up, mentioned assets go down & when DXY goes down, the assets go up.
I use it as such for my trades.
Okay so firstly:
Price Action:
As you can see current price action on the Daily time frame shows us trying to break the red trend line. This is the 4th touch point, which as me oogling heavy on this at the moment. For risk on situation, we would like to NOT break this trend line and rather have price action move back down. If so we would fall to the WHITE support line. Breaking this support would be even better for RISK ON.
Also notice the orange trend line this coincides with the top we had. If we break this, thats a major trend change, potentially to the upside. That may coincide with recession talks, S&P, Dow, Nasdaq, Crypto all going down to new lows (In my opinion).
Now Indcators:
1. RSI - We've clearly printed a higher high on the RSI. Notice the 2 Red horizontal lines, one above is resistance, one below is support. We want to stay below the resistance line and not breach it and let it flip support. That would indicate major trend shift in the RSI and could lead to RISK OFF. Ideally, we want to hit support and break down or move sideways to maintain the current situ in market.
2. MACD - Momentum indicator - we are picking up a little in omentum but its more or less just average power. For it to pick up, which would be RISK OFF situ, the blue/orange line would go above the 0 level. Ideal situ, to stay below 0 as long as we can, or if we breach 0 quickly come back down as drawn in red.
3. ADX & DI - Momentum indicator - When red line is above the green line it indicates bearishness and when green line above red line its bullish momentum. As you can see the gray rectangle i think we will be in a period highlighted by previous gray box. Where momentum just chops sideways with continuous overtakes by both colors (green & red).
4. STOCH RSI - Momentum indicator - Here we would like to see cross below the 80 level which would indicate RISK ON. If orange line catches up to blue and begins to go horizontal as shown by red arrow, that could indicate RISK OFF.
Please note we would like to see confluence among multiple indicators for the direction to be more probable. If one goes RISK OFF, other 3 RISK ON, it could be possible for RISK ON but i would like to see all 4 show one direction. For more clarity i would use other tools as well in my toolbelt. But i like these cuz there simple and works well for me countless times.
So keep a close eye on DXY! Great indicator of whats to come for the markets overall.
Thank you. If your into TA please join in and let me know what you think! Lets learn together!
***Btw this is not financial advice, i am not a financial advisor. Im just a student of the markets, wanting to reinforce my understanding.
DXY Possible scenario for the coming daysSince DXY is currently governing the markets. This is how I see it in the coming days.
Remember that when DXY goes down, the markets and crypto go up, and viceversa.
Trade safe!
DXY : Long Trade , 1hHello traders, we want to check the chart of the dollar index. In the 1-hour time frame, the price has been able to break the resistance level of 103.300 and 103.400. Considering the strength of the market movement, if the price can reach around 103.300 and also The upward trend line returns is a good point to enter the trade and the next target that can be imagined is around the price of 104.700. Good luck.
DXY buy Entry : 103.278
Stop : 102.566 , Target : 104.700
Risk/Reward Ratio : 2
DXY moving up to weekly resistance zoneDXY hit the monthly support and bouncing off of that. It is likely that it will reach to the weekly resistance 1 as marked on the chart and there it shall be pushed back down.
DXYDoller Index is Bullesh Now On Daily Timeframe So Here Dxy Can Take a Retracement of Minimum 0.38 and Go High
DXY Index 6 Jan -10 Jan Move Bullish ??Pair : DXY Index
Description :
Symmetrical Triangle Pattern as a Corrective Pattern in Monthly Time Frame and we have a Breakout and Retracement
Break of Structure
Divergence
Bullish Channel
Fibonacci Level
DXY LONG PLAY 06-02-23 (H1)
The weekly close was very bullish, this is my first target next week. I am targeting the daily FVG and equilibrium of the FVG. My long-term play is the weekly volume imbalance as it has been for a few weeks but it may take months to play out.
DXY LONG PLAY 06-02-23 (H4)The weekly close was very bullish , this is my first target next week. I am targeting the daily FVG and equilibrium of the FVG. My long-term play is the weekly volume imbalance as it has been for a few weeks but it may take months to play out.
DXY LONG PLAY 06-02-23 (Daily)The weekly close was very bullish, this is my first target next week. I am targeting the daily FVG and equilibrium of the FVG. My long-term play is the weekly volume imbalance as it has been for a few weeks but it may take months to play out.
#DXY- LONG-After last week NFP data and recent CPI data has weaken DXY, however, we are expecting a smooth reversal at our area.
-The fear in the market has led DXY suffer heavily.
DXY Chart Analysis....
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Dollar will longPowell confirmed his expectation that the central bank will raise interest rates (at least) two more times, but his acknowledgement that “the disinflationary process has begun” has given traders more confidence that those will be the last two hikes of this cycle and that the Fed will be on hold midway through Q2. Meanwhile, his repeated focus on “core services ex-housing” provides a clear inflation metric for traders to watch to evaluate whether what the central bank will do in the coming months. Here this is not actually FED dovish but not hawkish.
US labour market performing very well; Yesterday JOLTS Job Openings 11.01M from 10.44M, Tomorrow NFP data with Publish; Technical chart says Data Will be Favour for Dollar.
Dollar now create a bullish butterfly pattern from 100.5xx or Fibonacci 1.42 support.
DXY to gain strength over the next months.Falling wedge formation chart. Moving into a higher volatility environment for the next few months. Inflation numbers should continue to fall quickly, especially relative to other countries as the real economy feels the lag effects of the FED rate hikes.
Dollar Index Chart Analysis....
DOLLAR INDEX MY VIEW-
N.B- In this situation DXY chart shorttime chart create higher high move.So, market need
seems buy correction @ 102.555 and 103:135 risistance level.If breakout this
resistance level, then market Buy UP to 104:000 resistance level.
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
Dear Traders,
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DXY (Dollar index) Daily: 21/01/2023: Bull or Bear?
Well, as you can see now I believe in a bear market.
Bear scenario: Now we have a market consolidation that results in the accumulation of liquidity on both sides of this area. in addition, we have daily resistance that you can see on the chart that can push the price down.
Bull scenario: The primary basis of this idea is that the weekly Demand zone can play a crucial role in changing the market way and the price move higher for collecting the liquidity above equal high and filling the fair value gap.
💡Wait for the update!
🗓️21/01/2023
🔎 DYOR
💌It is my honor to share your comments with me💌
