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DXY 4HR ANALYSIS READ DESCRIPTIONThe US Dollar Index (DXY) is currently hovering around a crucial support area ranging from 104.1 to 104.3. The significance of this support zone lies in its potential to dictate the future direction of the dollar. If the support holds and the price action confirms a bounce, it could signify strength in the dollar, potentially leading it towards the 105 level. Conversely, if the support fails to hold and the price breaks below it, we might see the dollar weakening further, potentially targeting the 103 level. Examining the technical aspects, several indicators suggest a bullish outlook for the dollar. The Moving Average Convergence Divergence (MACD) indicator is signaling a buy, indicating the potential for upward momentum in the dollar's price. Additionally, both the Exponential Moving Average (EMA) and Simple Moving Average (SMA) from the shorter 10-day to the longer 200-day periods are suggesting a buy signal. This alignment across multiple moving averages underscores the strength of the bullish sentiment in the market. Analyzing the recent trading activity, the last day's trading summary reveals a predominantly bullish sentiment towards the dollar. With 45 buy signals, compared to only 4 sells and 7 neutrals, it's evident that market participants are largely optimistic about the dollar's prospects. This positive sentiment could further support the case for a potential rise in the dollar's value, especially if the support area holds and price action confirms a bullish reversal. In summary, the US Dollar Index is currently testing a critical support zone, with potential implications for its future trajectory. Technical indicators such as the MACD, EMA, and SMA are suggesting a bullish bias, while recent trading activity reflects a predominantly bullish sentiment. Traders should closely monitor price action around the support area for confirmation of either a bullish reversal or a breakdown, which would guide their trading decisions accordingly. As always, risk management remains paramount, and traders should implement appropriate risk mitigation strategies to protect their positions in case of unexpected market movements.
TVC:DXY
by MOAZAM1133
💡 DXY: Forecast Next week💲DXY: Last week, DXY had a surge after the FOMC meeting and reached its highest level of the week around 104.2. Regarding technical analysis, we can see that DXY has broken through the Downtrend line and the key level 103.5 - 103.7. With this development as well as the strong increase in the last 2 days of the week, I will appreciate the upward trend for DXY for the new trading week. The target area for DXY will be the next key level area 104.5 - 104.7. You can wait for DXY to back test the trendline and key level around 103.7 and create a reversal signal to continue buying positions.
TVC:DXYLong
by Stone_Haven
Is DXY about to pump to 105.??Based on the daily chart, I'm expecting a correction to 105 before bearish continuation. If 105 does not hold then we like will see dollar getting strong, so that leaves a question of whats gonna happen to pairs trading against the dollar?? but I am expecting 105 to hold, then from then bearish continuation to complete wave 5 since if 105 holds then our wave 4 will be around that price. In summary: Pump to 105 is expected. 105 breaks then expect 108. 105 holds then expect further drop on DXY till new Lows below 100.
TVC:DXYLong
by Theofylrx
2
US dollar index fluctuates and rises Although the US dollar index will temporarily come under pressure at the central axis of 104.2 today, this central axis cannot be suppressed. There is a high probability that it will break upward and test the pressure position of 104.5-105; keep the slow bull trend moving upward! Therefore, yesterday’s transaction was also a huge profit! Those who were long in the US and Japan, and short in the Euro and British Pounds, all made a lot of profits! U.S. dollar index: 1: The golden cross of the stochastic indicator of daily K is upward, which is the main bull signal; it is recommended to remain bullish; in terms of form, the continuous positive trend is upward; the central axis support position is around 103.6; in the short term, the bullish rise continues; 2:4 During the hour, the stochastic indicator is temporarily in a passive state, with a slow bullish upward trend; the support position is around 103.6; To sum up: the short-term trend remains bullish during the day, and it is recommended to continue to choose to go long on dips. At the same time, it is bullish on the United States and Japan, bearish on the euro, and bearish on the pound; gold needs specific analysis and treatment; In terms of data, the Fed is expected to keep interest rates unchanged at around 5%; Powell's attitude is more hawkish
TVC:DXYLong
by Crazy_money_making_signals
DXY Index Can Go Up by Classical Technical Analysis Pattern🚀🏃‍♂️The DXY Index is moving in the 🟢 Support zone($102.87-$102.43) 🟢. 📈 Regarding Classical Technical Analysis , the dollar index has successfully formed an Inverse Head and Shoulders pattern . 🌊According to the theory of Elliott waves , the dollar index has completed a Zigzag correction(ABC/5-3-5) in the 🟢 Support zone($102.87-$102.43) 🟢. 🔔I expect the DXY Index to rise to at least the 61.8% Fibonacci level and Resistance lines . U.S.Dollar Currency Index ( DXYUSD ) Analyze, 1-hour 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 gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
TVC:DXYLong
by pejman_zwin
9
📈💰 DXY Review on TradingView 💰📈📈💰 DXY Review on TradingView 💰📈 DXY has sparked excitement with its recent buy-side imbalance, signaling potential trading opportunities for savvy investors. 🚀 With fluctuations occurring in lower time frames, traders are eyeing targets as mentioned in the chart. 🎯 This surge in activity has traders buzzing, eagerly anticipating potential gains. 📈💸 Dive into DXY on TradingView and seize the moment! 🔍📊 #Trading #Forex #Opportunity #ProfitPotential 🌟
TVC:DXYLong
by Asif_Brain_Waves
DXY (U.S. Dollar Index): Potential Upside Breakout on 4-Hour 📈The DXY has completed a target of a previously identified channel pattern on the 4-hour timeframe. A double bottom formation has emerged near the channel's support level. ➡️Analysis: A retest of the double bottom's neckline (around 103.318) is anticipated. A bullish breakout scenario is developing, with a potential upside move towards the target at 104.992 if support holds at the retest area. ➡️Key Levels: Support: Double bottom neckline (103.318) Resistance: Former channel resistance (104.992) ➡️Overall Bias: Bullish based on the double bottom formation and potential breakout from the channel pattern.
TVC:DXYLong
by UnknownUnicorn6353257
DXY Index will Go Down to next Support zone✅ DXY Index has succeeded in completing a Rising Wedge Pattern near the 🔴 Resistance zone($105.90-$104.64) 🔴. 🔨DXY also managed to break the lower line of the Rising Wedge Pattern and is currently breaking the 🟢 Support zone($104.30-$103.89) 🟢. 💡Also, we can see Regular Divergence(RD-) between two Consecutive Peaks . 🔔After breaking the 🟢 Support zone($104.30-$103.89) 🟢, I expect the DXY index to continue declining until the next 🟢Support zone($102.86-$102.420)🟢 . U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-hour 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 gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
TVC:DXYShort
by pejman_zwin
4
DXY Dollar Index Technical Analysis and Trade IdeaThe DXY is currently trading within a well-defined monthly sideways trending range. Price action is testing a key support level, indicating a possible retracement towards previous resistance. A bullish break of the current 1D/4H downtrend, followed by a retest and failure of the range, could present a potential buying opportunity. Disclaimer: This analysis provides a technical perspective and should not be interpreted as direct financial advice. Trading in commodities involves significant risk. Before making any investment decisions, please consult with a qualified financial professional and thoroughly assess your own risk tolerance.
TVC:DXY
by tradingwithanthony
DXY Weekly Analysis "The DXY seems to be retracing from 100.615 to take liquidity at 104.565, and we've observed significant price reactions in the area since Monday, November 13, 23. This suggests that the DXY is currently showing efficiency and may be inclined to move lower towards 99.559. However, reaching 99.559 might face resistance due to a "shield area," which could potentially cause the DXY to struggle on the downside. It's possible we'll witness the DXY lingering around the red shaded area at 101.910 for a while. If the price breaks below this level swiftly with large downward candles, we anticipate further downward movement towards 99.559. Otherwise, if it fails to break below 101.910, we'll provide an update accordingly."
TVC:DXYShort
by Deotrade1