#DXY, Red Week?If you thought the dollar was on its way to a new high, think again!
Last week, the dollar was on a strong uptrend until it stopped at the resistance line at $ 98.3 and started to fall.
The Stochastic also indicates a trend change or a trend ending.
The Ichimoku Cloud Indicator changed to a red cloud meaning a bear cloud
Target: 97.5
Dxyidea
Forecast for the coming week #DXYSince last week the dollar broke resistance but failed to keep up the momentum, the dollar weakened and dropped back to support line 97.4.
The area where the dollar stops is also supported by the yellow line (200 moving average line).
The Stochastic is in a bullish position on the daily graph.
The dollar is trending up in the daily graph.
Bullish signal with a target: 98.3
Jerome Powell will destroy the #dollar's upward trend? #DXYLast week the dollar broke the resistance at 94.4 (breaking resistance usually accelerates trend)
The dollar is on the rise with excellent technical data.
We will remain bullish on the dollar, Despite the interest rate decision on Wednesday and the high chances of seeing an interest rate hike
Target: 98.3
Second target: 99.7
DXY Long Trade Idea (5/7/19) 4HR Chart DXY Long Idea (5/7/19) 4HR Chart
- Price currently broke the trend line that I have placed on the 4HR, and had a retest of that trend line .
- I am looking for the lower high to be formed on the overall bullish trend line , so once price reaches the 61.8% fib level and the 4hr disturbance
zone (orange).
- Once the reversal occurs, price will then reach at least our first fib target at 99.00
DXY Long Trade Idea (5/7/19) Daily Chart DXY Long Idea (5/7/19) Daily Chart
- Price currently broke the trend line that I have placed on the 4HR, and had a retest of that trend line.
- I am looking for the lower high to be formed on the overall bullish trend line, so once price reaches the 61.8% fib level and the 4hr disturbance
zone (orange).
- Once the reversal occurs, price will then reach at least our first fib target at 99.00
(4HR Markup Linked Below)
#DXY Analysis for the next week After the dollar crossed the resistance at 97.50 the way to continue the gains was supposed to be easy but it quickly returned to decline, if the dollar will stop in support and return to rise then the chances are increased to return to the gains, In case he continues the declines should take the last rise in a false alarm
DXY -- BEARISH PRICE DIVERGENCE with consolidationWARNING: BEARISH PRICE DIVERGENCE
Higher Highs and higher Lows while price is consolidating
and RSI & CCI are making Lower Highs and Lower lows
Indicates reversal of DXY might be in the works, watchout . The DXY might collapse if it continues to consolidate so be on the lookout.
We still expect US Dollar Strength but it seems we are starting to run out of steam again on this particular rally.
Can we hold on and continue to rally ?
DXY/Dollar Index Analysis For New Week 9.2.2018 {NFP WEEK}So here with the DXY (dollar) we have obviously seen very bullish movement. The dollar is very strong, I do not care what anybody says. The dollar is not weak.
That being said, I am still bullish with the dollar overall this week as we also seen a nice doji & rejection right off our zone this week. A lot of false movement for those who trade the dollar on smaller time frame to get more bears in the market, as on a smaller time frame the trend was broken. Many trades look to go bearish once that happens, but people never factor in the manipulation of the markets.
So, I am still bullish on the dollar, but obviously Friday with it being NFP week, the dollar could fall down so we will have to see what happens then. Overall, like I said, I am still bullish until otherwise. If NFP even breaks our zone/trend line, I still think it will be more or so manipulation to get bears in the market and then we will continue back upside.
DXY CYPHER OR HEAD AND SHOULDERS?DXY:
- As it is pulling back after a neckline break, but it also looks like a bias continues to form cypher pattern
- If the break up exceeds the neckline (95) then the odds are still bullish with the target returning to area 96 as a potential reversal zone of the formed cypher pattern.
- If it is unable to break above and break the low back above the previous low (94.93) then there is a possibility to continue the head and shoulders pattern with the target to area 93.
- Looking at the bullish divergence that is formed most likely the dollar index is still bullish