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Dxyforecast

DXYThe weekly price chart below shows the U.S. Dollar Index printed a weakly bullish near-pin candlestick last week, after previously rejecting the resistance level identified at 12257 three weeks ago. Note how this key resistance level has held again – in fact, it held just after the FOMC release some weeks ago when it was tested, which may be a bearish sign. While this decline is not enough to invalidate the long-term trend (the price is still well above its levels from 3 and 6 months ago), it is very notable that there is clearly strong resistance here, which is having impact. This suggests that despite the long-term bullish trend, we may now have experienced a major bearish reversal. However, it is also worth noting that the price is now very close to a major support level at 12150 which continues to hold, so we may be seeing a consolidation between 12150 and 12257. Overall, I would not look towards the USD as a key driver for any trades over the coming week.
TVC:DXY
by SmoothJB
DXY Jan 2021 PA and Divergence with Time Speculationas we had analyzed this index earlier in lower time frames (240,D), we are getting more confluences or trend reversal even in the higher time frames of weekly. we can see the price has reached one of its significant support zones and it is diverging with MACD and Its Histogram so forming a Bullish Divergence, which is the sign of trend reversal and we may have more confirmation as Price Action analysis also show that. the TP zone has been Specified by Fibonacci retracement levels and Fibonacci Time base tools. we may have some range and Accumulation at the same Support zone which the price is Currently located or instant trend reversal as USA Administration policies are also changing Due to the presidential Elections or if Washington faces more riot and chaos so does the index fall are reaches the heavy Support zone (Green Box) we can think of shorting the USD Quote Currency Pairs such as EURUSD, GBPUSD, AUDUSD... and long the USD Base Currency Instruments like USDJPY... what do you think about it?
TVC:DXYLong
by BitonGroup
3
U.S. Dollar IndexThe weekly price chart below shows the U.S. Dollar Index printed a bearish candlestick last week, after previously rejecting the resistance level identified at 12257 two weeks ago. Note how this key resistance level has held again – in fact it held just after the FOMC release some weeks ago when it was tested, which is possibly a bearish sign. While this continued decline is not enough to invalidate the long-term trend (the price is well above its levels from 3 and 6 months ago), it is very notable that there is clearly strong resistance here, which is having impact. This suggests that despite the long-term bullish trend, we may now have experienced a major bearish reversal. However, it is also worth noting that the price is now very close to a major support level at 12150. Overall, I would not look towards the USD as a key driver for any trades over the coming week. For a while, and possible for the entire coming week, there will likely be momentum against the US Dollar, although the Japanese Yen remains considerably weaker.
TVC:DXYShort
by SmoothJB
1
DXY US Dollar Index: 1M Chart UpdateToday I am charting the The US Dollar Index (DXY) on a monthly chart over a multi-year period. The chart shows a long term descending parallel channel (generally bullish), which the DXY has been trading in. Most recently it has broken a multi-year resistance zone, created through a double bottom pattern. If the DXY breaks out of the descending parallel channel, we can see the price go up significantly as shown by the Fibonacci Extension (Trend-Based Fib Extension). If the price gets rejected at the channel top, the price can go back down to as low as $60-65, which will create a triple bottom (generally bullish pattern). This is a multi-year chart so don't expect everything to move quickly. When zooming out, the US Dollar price looks very bullish in the long-term. What are your opinions on this? I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
TVC:DXYLong
by MillionaireEconomics
12
DXY- FED has spoken, now what?DXY is in an uptrend in the long term, and this is clear. However, in the short term looks tired and in the need of a correction. December rise is anemic and overlapping and this correction could happen soon. As we see the posted chart, 97 acted as a strong ceiling and at this moment we have 2 support levels to keep in mind. The first one is the ascending trend line and the second is the horizontal support from 75.80. Once the second support is broken we can also have a confirmation for a deeper correction and the index can drop of around 1 point to very important support at 95.50. This drop of more than 1.5% can translate into a rise in pairs like EurUsd, GbpUsd, AudUsd and NzdUsd of 200 pips or so. I will look to buy dips for these pairs
TVC:DXYShort
by Mihai_Iacob
9