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Dxylong

Will the growth of the dollar index decrease the value of gold?!When we look at the gold price chart in the weekly time frame, we see that the price is in a range where the valid Fibonacci retracement percentage is in the range of 38.2% compared to the previous downward wave (wave 1)! On the other hand, if we pay more attention, we will see that this range is just below the diagonal line, which we know as a valid broken support line, which has now become a valid resistance line. On the other hand, when we look at the main big downward wave (wave 1), we see that this wave can experience a decline in the range of 61.8%, which is a more general and more likely return range. In this case , the price will right on the support line, which is valid and connects the troughs of the previous two waves. By putting these evidences together, it can be concluded that we will soon see the price of gold drop to the range of $1,450. Now, if we take a look at the dollar index chart, we will see that this index is also trying to perform a behavior (growth) that strengthens our current analysis about the gold ounce. I will present the analysis of the dollar index in the update of this analysis.
FX:XAUUSDShort
by khalil864
DOLLAR INDEX LIKELT TO STRENGTHENThe US dollar's previous bullish momentum met monthly resistance at the all-time high price of 114.750. Since then price action has been making lower lows and lower highs followed by a massive sell-off toward the support zone around 105.300. However, there is a rejection of lower prices at this support zone. This hypothesis can be validated by the double bottom chart pattern and 3 consecutive bullish candles. A possible bullish reversal is likely to follow toward the upper trendline. The US dollar is likely to strengthen due to the upward pressure of the dollar index. Consequently, major currency pairs are likely to be affected. Candidates for shorting opportunities include EURUSD, GBPUSD, and AUDUSD. Long trades can be executed on the following currency pairs: USDCHF, USDJPY, and USDZAR. Keep away from USDCAD and other CAD pairs due to the ongoing trade tensions on oil price caps. CAD is highly correlated with oil prices.
TVC:DXYLong
by fxmtaaniacademy
DXY Analysis (Long/Buy Opportunity)- After the previous bullish momentum price eventually met monthly resistance. -Price then began making Lower Highs and Lower Lows, before the huge sell off. -Price then found support at the weekly support/demand zone and formed a double bottom (bullish reversal pattern) -I expect price to either met resistance at the neckline or perform a break and retest. - A break and retest of the neckline will allow price to form a lower high. - I am expecting price to ultimately make a bullish move to test the 50.0 Fib level, which also aligns with the weekly resistance/supply zone and the previous lower low.
TVC:DXYLong
by NoCeilingsTrading
2
DXY AFTER CPI AND PPI US RELEASEHELLO DEAR TRADERS I think we have currently created a short-term bottom on DXY and we need to go retest the zone of interest US PPI release yesterday was lower than expected and these numbers did not help us at all. Dollar takes another hit. We will see how the FED reacts in mid-December to the positive feedback from the economy due to the increase in interest rates The current one-time declaration of inflation numbers smaller than expected does not seem to me to be enough for the dollar to change its current trend. I haven't seen a single statement from the FED that they currently plan to ease the monetary policy of aggressively raising rates. If this opinion is still in their statements in December, despite the current numbers, I think we will go lower again on the equity markets. Do not forget that November and December may once again be the months when inflation shows that it is not yet at its peak. People spend a lot on Christmas
TVC:DXYLong
by Crypto-Frantisek
3
DXY can rise again above 109After the break under the last ascending trend line started in mid-August on 21st Oct and a retest of this break at the beginning of Nov, DXY continued its drop and also broke under horizontal support and the long-term trend line 5 days after. This important break led to aggressive losses and a test of the following horizontal support at the 105 zone. Now the index is in recovery and a rise to the 109 zone could follow. I'm bullish USD as long as last week's low is intact and selling rallies for EurUsd, AudUsd, NzdUsd and GbpUsd could be a goos strategy
CAPITALCOM:DXYLong
by Mihai_Iacob
2