The DXY is oversold and we are correcting slightly. The BUY strategy unchanged 94.70-94.90 area for a move back towards 96.00. We got currently resistance around 95.67. Stop-loss at 94.45 for now.
Initially I had a SELL position, but liquidated early 95.68. We have extended the move further even below 95.00. This has caused the weakness of USD across the board, including USDTRY of course. For now, I feel stochastic is overdone (RSI a little lesser overdone). The DMI is negative for quite some time, and same for the MACD. I prefer to carefully BUY...
After breaking above the rounded bottom neck-line in November, DXY has confirmed its long-term trend change. The month of December is marked by consolidation in a rectangle with resistance in the 97 zone. I expect a break to the upside soon and we can have a 3 digits Index quote by year's end. As long as the price is above 94.50 USD is very, very bullish Sell...
Here is my view for DXY on H1. The price The price should go up, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
After reaching a high of 97, DXY has started to correct and, after a few days of correction, the index has started to consolidate in a tight 0.5 points range. Now it looks like is pressing to the resistance of this range and a break here could lead to further gains and a new local high. My target for the index remains 100, and traders should look for opportunities...
Here is my view for DXY on H1. The price should go up, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
My DXY Chart analysis overview on H1, based on Order Block.
As I argued before, DXY is in a bullish trend for some months now. Yesterday the index has broken above resistance and the road is clear to 95 zone. Sell rallies for EurUsd, GbpUsd, NzdUsd and AudUsd is my strategy
As DXY taking support on trend line plus takig support on 200EMA which is giving strong indication of further upside.
DXY has hit the bottom of the channel, apparently in my opinion, the market will respect the channel support, and we can look forward, retaining its upward trend. However, it is a risk I am happy to take, for a BUY trade.
Dollar is creating a regular flat pattern. The wave is within is upward. Therefore before more collapsing, it maintains its upward direction.
DXY has bottomed out around the 89.50 level and has continued to grind higher since. The next level that we took out was the 89.90 level which now acts as support and the upward trend line and pivot area. I expect a move higher in the dxy in the coming weeks and therefore I will sell the rallies in EURUSD and AUDUSD and buy the dips in USDJPY. Good luck!
As we see dxy chart on 16 June 2021, after dxy finish running on flat price range between 90.400 - 90.600 from 13 June to 16 June, As FED meeting would affect the interest rate and US Dollars. Trading plan, Wait for break out Flat Range and long at retest around 90.600 Target 90.800-90.850
This is an educational + analytic content that will teach why and how to enter a trade Make sure you watch the price action closely in each analysis as this is a very important part of our method Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
This is an educational + analytic content that will teach why and how to enter a trade Make sure you watch the price action closely in each analysis as this is a very important part of our method Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions