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DXY: The USD kept its weekly rise ahead of the Fed's decisionThe dollar edged higher in early European trading on Wednesday, heading for its biggest monthly gain since September, while the euro edged lower after weak inflation data. At 04:45 ET (09:45 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher at 103.352, on track for more than a gain. 2% this month. Dollar demand has been buoyant this month as traders trimmed expectations for when the Federal Reserve will start cutting interest rates due to strong U.S. economic data and reaction from central banks. naughty. The greenback was also supported by escalating geopolitical tensions in the Middle East, which have weighed on risk sentiment amid fears of a broader regional conflict. The US central bank is expected to leave interest rates unchanged, and so the focus will likely be on Fed Chairman Jerome Powell's post-meeting press conference to see if he will signal a cut. Analysts at ING said: “With US data releases - most recently December JOLTS data showing expanding employment opportunities - there appears to be little reason for the FOMC announcement tonight prompted the market to price in well above the current 130 basis point rate cut this year.” in a note. “This would be a neutral/positive development for the USD.” There's more labor data to study on Wednesday, in the form of ADP Private Payrolls for January, ahead of weekly initial jobless claims on Thursday and then broad data on Friday. - viewed monthly salary reports.
TVC:DXYLong
by Chart_MasterPro
DXY Dollar Index Technical AnalysisThe DXY has demonstrated a notable rally on the 1-day (1D) time frame, exhibiting distinct range-bound price action as it operates within a previously established weekly distribution level. The absence of a discernible trend is evident, with the market remaining in a sideways movement for an extended period. With high-impact news events scheduled for later today, Thursday, and Friday, there is potential for a breakout from the current range, presenting opportunities with dollar pairs. It is imperative to clarify that this analysis is intended exclusively for educational purposes and should not be construed as financial advice.
TVC:DXY
by fxtraderanthony
DXY Dollar Index Technical Analysis and Preping for MondayThe DXY is presently confined within a range, evident on both the 1-day (1D) and 4-hour (4H) time frames. Given that it is the end of the week, I am exercising caution about active market participation, considering the customary manipulation observed on Fridays as smart money strategically targets stops, aligning them with the upcoming week's trend. In this video, we evaluate the dollar index and contemplate potential trade scenarios with dollar pairs for the approaching week. It is important to emphasize that this content is intended strictly for educational purposes and should not be considered as financial advice.
TVC:DXY
by fxtraderanthony
7
DXY Dollar Index Technical Analysis - Where Is The USD Heading?DXY Analysis: The Dollar Index (DXY) has exhibited range-bound behavior recently, lacking a clear directional bias. While there are bearish undertones, a confirmed downtrend requires a break below the current range followed by a failed retest. This video explores multiple timeframes (monthly, weekly, daily, 4-hour) to identify potential dollar direction in the coming days and week. Given the key role of the dollar in shaping currency markets, its trading action significantly impacts opportunities in other pairs. However, with the current sideways movement, identifying high-probability trades could be challenging, especially considering the increased risk associated with end-of-week volatility and potential stop-hunting activity. Disclaimer: This analysis is solely for educational purposes and should not be considered financial advice.
TVC:DXY
by fxtraderanthony
The USD index look set to trade to and through 104We have remained bullish the US dollar the past few weeks, and continue to suspect there are plenty of shorts to be covered as markets finally concede that fewer Fed cuts are coming this year and already priced in. The dollar has posted a strong rally YTD, and after a brief consolidation momentum is trying to turn higher with a bullish outside candle. It's not major surprise to see it is holding beneath the 200-day EMA, but it did close above the 200-day MA. And if the US delivers a strong set of flash PMI figures or PCE inflation data, we suspect the US dollar can travel to and through 105 on its way to 105.
ICEUS:DX1!Long
by CityIndex
DXY (Dollar Index) Longs from 102.200 back upThe dollar index is presently responding to my 14hr supply zone, leading to a visible bearish reaction. Given that this supply is part of a 2-day supply, I anticipate price to move upward to further mitigate this supply, potentially triggering a more stronger bearish response. With the breakout from consolidation, I anticipate clearer price action. I will be monitoring for price to reach a 10hr demand zone that has previously resulted in a BOS on the higher timeframe. Upon reaching this point of interest (POI), I will then be on the lookout for an accumulation to unfold. Confluences for Dollar buys are as follows. - Market trend is overall bullish on the higher timeframe - Price has broken structure to the upside on the HTF. - Price is currently reacting off a supply to trigger the pullback towards our demand - Theres lots of liquidity and imbalances that need to get taken above as well. - 10hr demand zone lies within the 0.78 fib range and it caused the BOS to happen P.S. While I don't engage in direct trading of the dollar, I utilise it for confluence, especially since this pair significantly impacts the others I monitor. There's a possibility of a short-lived bullish trend if the 2-day supply zone doesn't hold. However, given the initial reaction, a downward movement seems likely. HAVE A GREAT TRADING WEEK AHEAD, LET'S CATCH THESE PIPS!
CAPITALCOM:DXYLong
by Hassan_fx
USD Index (DXY, DX1!, ) Weekly Update.... BEARISHYes, I did call for bearishness in the Weekly Outlook. And yes, the USD has moved bullishly since Tuesday. However, I did state that price would move up into the fair value gap, and from there, the bears would take over. Remember, I described an External to an Internal RUn on LQ. Price has moved from Discount to Premium prices. Currently, price is positioned to make the downward move! I do believe price has finally started to turn over, as the FVG has been filled ... to the pip! We should be looking to see the bearish FVG will hold, and watch for valid sell setups. I do not trade DXY, but use it as an indicator, as I mentioned in the Outlook video. I would be looking for buys in xxxUSD pairs, and sells in USDxxx pairs. Also, Gold should continue upwards, as well as S&P, NAS, and DJ. May profits be upon you.
ICEUS:DX1!Short
by RT_Money
DXY (Dollar Index) Shorts from 103.400 back down!As the dollar has been consolidating in the past week, opportunities near the current price are limited. However, my nearest Point of Interest (POI) is a supply zone on the 14-hour chart. I am looking to capitalize on this by selling to continue the bearish trend observed in the dollar index. I'll be patiently waiting for a breakout from this range, aiming to fill the imbalances above and eventually reach our identified supply zone. On the flip side, if price breaks below the consolidation, it could tap into a demand zone, sweeping liquidity beneath the range. In this scenario, I anticipate a bullish reaction, possibly a temporary move to the upside before eventually targeting our supply zone. Confluences for Dollar sells are as follows: - Overall temporary trend for this pair is bearish so this idea aligns with that bias. - Bullish pressure is now getting exhausted as you can see from the ranging price action - Price has left imbalances just below the supply that needs to get filled, validating our POI. - There is lots of liquidity to the downside that needs to be taken. - Price is due for a pullback to enter a level of supply if price wants to keep dropping lower. P.S. If price unfolds in a manner similar to how EURUSD is behaving, I will patiently await a breakout from this area. Subsequently, I will assess its behaviour and adapt my approach based on the information the market presents. Have a great week ahead traders!
CAPITALCOM:DXYShort
by Hassan_fx
1
DXY Technical Analysis and Trade IdeaThe DXY has exhibited a prolonged period of consolidation, while the higher time frame reveals a robust downtrend. In the video analysis, we observe notable price action, identifying a triple top with a spike above, potentially indicative of a stop run, suggesting the likelihood of continued downward movement. Additionally, the video explores the prospect of a break below the current range low, followed by a retest and subsequent failure, presenting a potential selling opportunity. It is crucial to emphasize that the information provided herein is not intended as financial advice.
TVC:DXYShort
by fxtraderanthony
DXY Dollar Index Technical Analysis and Trade IdeaIn this video, we take a close look at the Dollar Index (DXY) on higher timeframes to assess the prevailing bullish momentum and its potential implications for traders. We'll delve into market structure, price action, and explore a potential trade setup. Important Disclaimer: The information presented here is for educational purposes only and should not be construed as financial advice. Trading carries inherent risk, and proper risk management is essential. Capital preservation remains paramount.
TVC:DXYLong
by fxtraderanthony
What should we expect from DXY Index by the end of 2023❗️❓🗺️👋Hi everyone (Reading time less than 3 minutes⏰) . 📚One of the most important Indices that we should have an analysis of is the DXY index because it has a direct impact on the Forex , Cryptocurrency , and stock and etc markets. So, in this post, I'm going to show you the 🗺️ Roadmap 🗺️ for DXY until at least the End of 2023 and Early 2024 . 💡I used the Monthly time frame and Elliott wave theory to display the DXY index roadmap better. 💡First of all, it is better to know that the DXY index has formed an Ascending Channel since 2008 and is moving in it. 🌊According to the theory of Elliott waves , the DXY index has succeeded in completing its 5 impulsive waves in the ascending channel so that the 3rd wave was an extended wave . 🌊As a result, it seems that Corrective waves have started, and to confirm this, it is better to wait for the break of the lower line of the ascending channel. 🔔I expect the DXY to move between 🔴Heavy Resistance zone($107.62-$103.10)🔴 and 🟢Support zone($101.64-$99.58)🟢 by the end of 2023 and early 2024, and in mid-2024 , the DXY will begin to trend Down , and Financial markets will likely turn 🚀Green🚀 . DXY Index Analyze ( DXYUSD ), Monthly 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 be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
TVC:DXY
by pejman_zwin
7
DXY Shorts from 102.400 Down towards 101.000The DXY forecast remains bearish in my view; however, there is a notable strong bullish retracement occurring. I perceive this retracement as temporary, as the price is retracing back to a premium supply level. I anticipate a distribution to take place in either the 1-hour supply zone I've identified or... Alternatively, if the price continues to climb higher, fully mitigating the imbalance, it may enter my preferred 14-hour supply zone, which previously caused a break of structure to the downside. Should the price decline without touching these two zones, I will then be on the lookout for a buying opportunity around 101.000. Confluences for DXY dollar sells are as follows: - Dollar is temporarily bearish due to the break of structures on the higher timeframe. - Currently price has reacted off a demand so I can expect bullish pressure to get exhausted. - Price is slowing down foreshadowing a potential wyckoff distribution to play out. - Lots of liquidity still left below in the form trend line liquidity and major imbalances. - Candlestick anatomy shows that price might have a bearish drop as its mitigated an imbalance above partially P.S. While my current stance is bearish in the market, this minor bullish retracement appears temporary, and I anticipate the price to resume its downward trajectory. However, considering the presence of numerous imbalances, I prefer to observe price movements before deciding on my course of action. Have a great trading week ahead guys!
CAPITALCOM:DXYLong
by Hassan_fx
1
DXY: Morgan Stanley changes USD forecast to neutral following FeMorgan Stanley updated its outlook for the US dollar, moving to a neutral stance, a significant shift from its previous forecast of an 8% gain in the Dollar Spot Index in the fourth quarter. two of the year. The adjustment comes as a response to the Federal Reserve's recent dovishness and the resulting decline in Treasury yields. The bank recorded a slight decrease of 0.2% in the Dollar Spot Index, causing its currency strategy to be reevaluated. Due to evolving economic conditions, Morgan Stanley strategists have now advised clients to stay away from short positions in the eurodollar. Instead, they recommend shorting the euro against the yen, positioning for potential currency fluctuations in the current market environment. This guide shows a strategic pivot in forex trading, in line with the latest economic indicators and central bank policy direction.
TVC:DXYLong
by Chart_MasterPro