USDJPY Long- Fair Value GapThe USDJPY currency pair has demonstrated a recent uptrend, characterized by bullish price action. As a prudent investor, I awaited a retracement to a level where the market exhibited a disparity between buyers and sellers, commonly referred to as the fair value gap (FVG). Subsequently, I aligned my investment strategy with the prevailing market trend and executed a long position to capitalize on the ongoing bullish momentum.
Dxylong
DXY 1H(DXY) rose above 101.51, above the MM100. Should the DXY close the day above this level it could break the bullish channel and head towards its next resistance at 102.215
Meanwhile, RSI indicator on the daily chart rose slightly above 80, pointing to exhaustion on bullish momentum.
If it fails to break through the channel, sellers may show interest and drag the DXY to its support at 101.2, a strong support and psychological level.
Let's keep an eye on the economic agenda today, today's April PI may further reinforce this narrative of a pause in the Fed's rate hike next, and today's weekly jobless claims are expected to remain flat.
Key support levels: 101,517 / 101,207
Main Resistance Levels: 101,941 / 102,215
MM100: 101,517
DXY (Institutional price action)hi dear trader
see this price action , dollar curency index forming FLAG A + FLAG B on this chart
Institutional price action is a forex book legend support resistance line high ll lower low hh higher high lq liquidity supply zone demand zone qm quasimodo institutional price ...
see what s happen after tomorrow release CPI
good luck
The 🦈Shark🦈 Harmonic Pattern is a sign of a bullish DXY🚀DXY seems to have successfully broken the descending channel and is currently completing a pullback to the upper line of the descending channel.
Also, it seems that the Bullish 🦈Shark🦈 Harmonic Pattern can be formed in the 🟢support zone($ 101.96-$ 101.9)🟢 and near the support line and play the role of pullback.
I expect DXY to rise in the coming hours with the help of a Bullish 🦈Shark🦈 Harmonic Pattern and at least grow to the resistance line.
U.S.Dollar Currency Index ( DXYUSD ) Analyze,15-minute time frame⏰.
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DXY - U.S Dollar Index LongDXY is in the support zone that used to be a resistance level from January 2017 and March 2020. a resistance level for 3 years. If the 100 -102 support doesn't get broken we are now looking at our new support and the U.S Dollar index can give us another bullish scenario. The new resistance would be September 2022 High 114-115.
DXY: The Nail in the Coffin? Quarterly ChartThe US Dollar is holding 1997-2000 prior resistance, as support. We have a breakout of a downward slope, retest of the trend line, and now retest of the most recent double top (2017, 2020). We all are watching Gold test the 2000 area, but what I don't see often is a technical pattern analysis of the US Dollar. As the dollar rapidly deflates, we will transition into a Stage 1 market cycle, Bond prices will have to increase to offset deflation, while interest rates remain high. I am not a fundamental trader, but this exact same TA setup is the reason I took AMC from the breakout to $50. Patterns repeat themselves, that's why they are called patterns. They may only work because people think they work, but you can't bet against them. DXY holding 100 area through next FOMC meeting will be a sign to me that recession declaration is imminent.
DXY mid to long term analysisLong term I am Bearish on DXY, with De-Dollarization happening in the world especially BRICS countries preparing to create a new currency to use for trade amongst them and 24 other nations joining them. So, we will see the dollar lose its value over the next few years.
But in the short to midterm (Few Months to a year) I am seeing a nice bottom form for DXY.
I have drawn two rounded curves in purple where I see rounded double bottom formations which in my experience are immensely powerful Market structure for explosive move to the upside a move to 109 is expected because of this structure.
I have also drawn two smaller Rounded bottoms in yellow and Red which I see playing out to the upside in the short-term A move to 104 is expected if these structures continue to develop.
PA is also reacting to the PRZ 1.414 of butterfly, if DXY comes down to play the red rounded bottom, we can see a strong move up from 1.618 extension of the butterfly as a Type 2 return on the harmonic.
We also have the 3 key EMAs (13 21 and 34) on daily start to curve to the upside, these are initial signs of Trend reversal. Right now, PA is above 21 and 13, but below 34, As long as 34 EMA is not broken through on Daily Time Frame 21 and 13 EMA act as weak support and 34 EMA will continue to act as resistance, and we will be in a down trend. Once the 34 EMA is claimed on Daily and held for few days, we get a confirmation for the uptrend and then 21 and 13 EMA will start to act as strong support along with 34 EMA.
With FOMC coming up, if the news is favorable for Dollar, we can break thorough 34 EMA and confirm the trend reversal.
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DXYDXY is ready to BUY. there is important price for it and i think 102.00 is very important. if tonight the price will close upper than 102.00, monthly and weekly candles shape show us good signal, in daily and 4H first top line will break, and all the reasons show us powerful signal to BUY. It can change all of markets.
DXY: Event influence!Hello traders, I have some USD related information to share with you ♥
US Dollar's position as the primary global reserve currency is being challenged
The US Dollar's share of the global market has decreased from 71 percent to 59 percent over the last two decades and could shrink even further in the future. The primary victim in this scenario is the United States, as currency usage in global trade is a zero-sum game. Each time a Yuan, real, or Rupee is exchanged on the global market, a Dollar is not. If credible alternatives gain steam, the dominance of America in the global market will be compromised.
DXY PREDICTION analysis *I posted MY EURUSD idea and trade, I SHOWED MY VIEW ON DXY if im right eurusd trade will be succesfull. NEWS in 10 minutes i believe positive dxy hit its 1 year low and found support now . Please LIKE AND COMMENT if you really want to see me do real in depth analysis and predict prices accuretly. because i havent been posting recently. Also what you think will happen .
DO YOUR OWN RESEARCH*
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