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Dxyforecast

DXY Daily TA Neutral BullishDXY Daily neutral with a bullish bias. Recommended ratio: 60% DXY, 40% Cash. *After briefly touching $110 minor resistance in Friday's session, the DXY will attempt to retest the next resistance between $112 (Weekly resistance) and $114 (Daily resistance). The last time the DXY tested $112 Weekly resistance was in 2000. If the Fed raises FFR by 75bps on 09/21 this will push it to 3% and may serve as a catalyst for DXY to keep surging higher. A few Fed members have openly suggested taking FFR to 4% or above by early 2023, should this happen the stage is all but set for DXY to keep going higher. Key Upcoming Dates: 10th GDPNow US Q3 GDP Estimate at 830am EST 09/07 ; 6th Beige Book at 2pm EST 09/07; August CPI at 830am EST 09/13; FOMC meeting 09/20-09/21 (Statement Released at 2pm EST on 09/21).* Price is currently retesting $110 minor resistance for the first time in 20 years. Parabolic SAR flips bearish at $108, this margin is mildly bearish. RSI is currently trending down slightly at 68 after peaking at 69, the next resistance is at 82 and the next support is at 59. Stochastic remains bullish for a second consecutive session and is currently trending up at 91, it's still technically testing 88 support. MACD remains bullish and is currently trending up at .82 but is still technically testing .65 resistance, if it can break above .65 the next resistance is at 1.24. ADX is trending up slightly at 28 as Price continue to push higher, this is bullish. If Price is able to break above $110 minor resistance then it will likely retest between $112 Weekly resistance and $114 Daily resistance for the first time since 2000. However, if Price breaks down here, it will likely retest $108 support before potentially retesting the 50 MA at ~$107 as support . Mental Stop Loss: (one close below) $108.81.
TVC:DXY
by dailytaguy
Dollar In ranging, Short expectedNow Dollar index consolidate on108.3-109.3. If breakout then dollar gonna another high to 111.2; If NFP data will negative, Dollar gonna 106.3 and go on. Big Picture! Dollar now on solid bullish trend or up trend and still dominates the higher price. DISCLAIMER Remember, there is no place for luck in trading - only strategy! This analysis can change at anytime without any update and it is only for the purpose of assisting traders to make independent investments decisions. We are the only one person who is responsible for our physical, mental health, relationships, success, and money in our lives. So taking a trading or investment risk on the markets based on this idea. You deserve the profit and you are responsible for your potential loss. Any opinions, news, research, analyses, prices, or other information discussed in this idea. Here i anticipated by price action, please do not consider investment advice, Because i'm not your official financial advisor. The author of this analysis does not accept liability for any loss or damage.
TVC:DXY
by mahfuzazim_TA
DXY create bullish Rectangle pattern. So, Short sell, long buy In this situation DXY chart Hopefully create bullish Rectangle pattern . So, market need seems to SELL correction at 108.600 & 108.400 support level. Then Market fully BUY to 109.550 & 110.200 resistance level. AronnoFX will not accept any liability for loss or damage as a result of reliance on the information contained within this channel including data, quotes, charts and buy/sell signals. If you like this idea, do not forget to support with a like and follow. Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad.
TVC:DXYLong
by AronnoFx
DXY Daily TA BearishDXY Daily bearish. Recommended ratio: 5% DXY, 95% Cash . *Treasuries (excluding the 30 yr Bond) and the Dollar are correcting after a bullish summer fueled by supply chain woes and recession fears. Supply chain woes have not been remediated but there is an element of the Bullwhip Effect that should be considered and that is the excess supply that can come shortly after an abrupt slow down in demand, this could lead to deflation which would naturally (yet artificially) reduce inflation. The recessionary fears on the other hand are starting to wane with every remotely bullish economic data point that is reported, speculators are even already betting on a 50bps rate hike in September. Just today Minneapolis Fed President Neel Kashkari stated that he would like to see EOY FFR at 3.9% and 4.4% by the end of 2023, he doesn't actually have a final vote on this but it's worthy of mention considering he has been rather dovish in recent years. Both money markets and Fed members have acknowledged that the EOY target for FFR in 2022 is 3.25%-3.75% (technically 3.15%-4%), so if the current range is 2.25%-2.5% (current effective rate is 2.3%) it would require 100bps or more over the next three Fed meetings in September, November and December to get to 3.25%-3.75% EOY FFR. As of now the most likely scenarios are: September 50-75bps, November 50-75bps and December 25-50bps. More clarity will arrive at the end of this month with PCE numbers due on 08/26 and the Jackson Hole Economic Symposium on 08/25-08/27. In other news, Disney reported beats on Q3 earnings and revenue but forecasted slower subscriber growth in 2024. Key dates remaining this week: PPI report at 830am EST 08/11 .* Price was rejected by the descending trendline from 07/14/22 and is currently trending down at ~$105.20; it is still technically testing the 50 MA as support at ~$105.58. Parabolic SAR flips bullish at $106.87, this margin is mildly bullish at the moment. RSI is currently trending up slightly at 43 after bouncing at 39 and is still technically testing the uptrend line from July 2020 as support at ~45. Stochastic remains bearish for a third session and is currently testing 24 support with no signs of trough formation. MACD remains bearish and is currently testing 0 support with no signs of trough formation, if it breaks through this support then the next support is at -0.38. ADX is currently beginning to form a trough at 21 as Price continues, this is mildly bearish; if ADX can start trending up as Price continues to fall this would be bullish. If Price is able to defend support at the 50 MA (~$105.58) then it will have to break above the descending trendline from 07/14/22 at ~$105.75 in order to retest $108 resistance . However, if Price continues to break down here, it will likely retest $103 support . Mental Stop Loss: (two consecutive closes above) $105.70.
TVC:DXY
by dailytaguy