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GOLD SHORT TERM INTRADAY IDEAIntraday Analysis - ( 23 FEB 2023 ) For weeks we have been emphasizing on dollar dominance and gold bears and have been adapting to clean sells with our key levels. Last night during FOMC meeting minutes , there was a slight hawkish tone which led gold to do a shot squeeze down. Will be playing the bearish bias as there is no shift in fundamentals just yet. HRHR SELLS AT 1832ish region MRMR SELLS AT 1828 region SAFEST SELLS BELOW 1820 However if the whole move from FOMC meeting minutes gets corrected , i will only look for safest buys above 1848 which we may potentially see gold retest greater sell side liquidity zones. Till then scalp buys are valids but my bias will be shorts. We have GDP data releasing tonight whereby its a good indicator of overall economy. As forecasted , we are expecting to see an improvement in US economy which can give DXY strength and potentially create a new high this will then be in line with our gold shorts possibly to 1812-1800. If data release above forecast or as forecasted is good for the dollar, is data is bad , expect deeper pullbacks on gold but the market sentiment that holds more weight is still dollar dominance. What this means is we may see deeper pull backs above 1848 to possibly 1855 before heading back down again.
OANDA:XAUUSD
by CJ_GOLDPIPS
USD rally stalls at resistance, pullback and breakout pending?The US dollar index (DXY) posted three solid days of gains between Thursday and Monday. I cannot say I am overly surprised to see A Doji formed yesterday given the resistance cluster around 103.50 which includes a previous support zone, trend resistance and the 50-day EMA. But we also had a change in sentiment for markets yesterday that were eager for a decisively hawkish message from Jerome Powell, which was not delivered. Therefore I suspect the US dollar needs a pullback or period of consolidation before its next leg higher. And I maintain my view that the US dollar remains oversold, and there is more upside on the horizon after its initial pullback is complete.
ICEUS:DXYLong
by CityIndex
3
USD Index Targets 104.820 After US Federal Reserve Meeting?We have learned that almost all US Federal Reserve officials backed a 25-basis-points rate hike at the last FOMC meeting held on January 31 to February 1. Only a few officials favored a larger 50-basis-points hike at the meeting or said they "could have supported" it. Even so, many more dovish sentences were spoken in the latest meeting than compared to the December meeting. Although, officials did not go as far to consider a pause in rate hikes. The only time this topic was broached was in reference to foreign central banks and their potential strategies. Of course, the meetings also showed the obligatory note that, although the rate hikes have started to ease inflationary pressure, officials agreed that there was much more work to do to get inflation under control and were definitely aware of the risk of not doing enough, so the drip of dovish language will likely continue for some time before a dovish outlook overtakes a hawkish. Especially, because the meeting took place before the release of the hotter-than-expected jobs and retail sales data from January. This might go some way in supporting the USD in the short to medium term. Looking at the DXY after the release of the minutes, it looks to have helped the USD index push into the mid 104s, where it is encountering some resistance. The index only has to break into 104.700 to eclipse its recent one week high and return to its month high. A target above this range could include 104.820, which aligns with the 200-EMA and some peaks reached in January.
TVC:DXY
by BlackBull_Markets
1
DXY Potential for Bullish Rise to recent swing high Looking at the H4 chart, my overall bias for DXY is bullish, as the current price is above the Ichimoku Cloud. Looking for a pullback buy entry at 103.775 where the overlap support and 61.8% Fibonacci line are, and the stop loss is at 103.189 where 50% Fibonacci line is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
TVC:DXYLong
by Rockqet
2
DXY Chart Analysis.... DOLLAR INDEX MY VIEW- N.B- In this situation DXY chart create Bullish Flag Pattern's breakout @104.360. resistance level, then market Buy UP to 105:000; @ 105.500 and 106:000 resistance level. Then market need seems sell correction to nearest Support 105.500 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
2
DXY Pre-market Analysis Daily TFBased on my analysis, DXY broke out of its previous descending bearish channel last week, and I'm currently anticipating a sustained bullish trend in the coming days or weeks. I have identified specific price levels as potential targets, which are shown on the chart. However, if the market retraces back into the bearish channel, this could potentially invalidate my bullish outlook, and I would need to reassess the market's direction. What's your oipinion on this? like and comment below
TVC:DXYLong
by Popeson
4
End Of The Dollars Plummet?What you see here is a larger time frame analysis of the overall price action of DXY(dollar). Price has moved away from previous major resistance and is now showing bullish price action and is now showing resistance at a price area that previously caused a strong sell of (supply). Price will consolidate here before choosing a direction which I believe will be to the upside. Wait for break of yesterdays manipulated high for entry with stop below the red supply line.
TVC:DXYLong
by CJITM
GOLD SHORT TERM INTRADAY IDEAIntraday Analysis - ( 14 FEB 2023 ) Price setting up for CPI data today with many choppy price action and no smooth upside or downside moves. However on the higher timeframe we can see lower lows printed respecting the bearish structure. Personally am looking at cpi to continue being high with a strong labour data as reflected on NFP day. Potential liquidity grabs to the upside whereby i am eyeing 1876 and 1865 regions for shorts. Would be best if there is straight melts ofcourse. However this is in the event inflation still prints high. HRHR SELLS 1883 MRMR SELLS 1876 / 1865 SAFEST SELLS below 1850 Will be looking at 1820 if cpi data prints with dollar domination and weakness in risk assets If CPI data prints low, showing signs of improvements, i would be looking at longs only above 1883 cancelling out the entire downside move. Either ways stay adaptive to the markets and safest is enjoy a glass of wine with your girl and stay away from the charts. HAPPY VALENTINES DAY
FOREXCOM:XAUUSD
by CJ_GOLDPIPS