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Dxylong

DXY longsHello traders. After price broke structure (BOS), I wanted to see it retrace lower and it gave the retracement as the corrective structure in the channel highlighted. As soon as price broke out on the upside, I then wanted to see it pull back again into the last down candle before the up move for me to seek longs (shorts on foreign pairs)… I am currently short on AU, Gold, NU, EU and Nasdaq where my risk is split amongst them all so that I do not over expose myself into the market. I would personally like to see the liquidity above taken out and then I am good. Whatever happens next is not my business. However, see that it is a Monday, we will see how the week goes. Happy trading and take care.
TVC:DXYLong
by mlebzatrades
The dollar slowly perks up ahead of US CPI and FOMC meetingThe US dollar is trying to form a base following its false break of the August low. Whilst it saw a daily close beneath the key level on Friday 2nd December, a bullish engulfing candle formed the following day. Furthermore, a higher low formed on Friday with a Spinning top Doji and held above the August low, and momentum is pointing higher today. So if this week’s FOMC meeting is more hawkish than currently expected, these levels likely look appealing for bulls after its near-10% retracement. With that said, I suspect volatility will be lower ahead of this week’s US CPI report and FOMC meeting as traders may be wary to front-run these key events. - The bias is bullish above last week's low (although a more aggressive stop could be used beneath Friday's low) - Open upside target, given the market has retraced nearly 10% from its highs and the Fed have the potential to deliver a hawkish hike this week
TVC:DXYLong
by CityIndex
EURUSD is due for a pullback before resuming higher!FX:EURUSD has reached the end of the trading channel that it has been trending in since the end of Sept. With both a weakening momentum highlighted by the divergence in the RSI and the price action of the previous 2 peaks, coupled with the wedge forming at the end of the channel it seems it's finally time for the bears to step back. However, I don't think the bears should be celebrating yet, as so far it only seems like a healthy correction before resuming higher.
Short
by m3rr0r
Multi-Year Ascending Scallop on DXYDuring the DXY run-up this past year, I noticed repeated ascending scallop patterns that were continually validated by breakouts. These were often on the 5 to 15 min timeframe, but If you look at the ascent even on the hourly chart, you'll notice the pattern reveals itself repeatedly. If you're a believer in using fractals in your trading strategy, you won't be surprised to see that a clear ascending scallop appears to be developing on the longer time frame. I was initially looking for this pullback to find support at former resistance, but it has possibly regained its support from 2018-20. Given the repeated validations on shorter time frames, I'm looking for a break out above the Sept high (114.778) in early 2023 - if not sooner.
TVC:DXYLong
by moveyoubrightly
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