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DXY - 20 years in a nutshell (Resistance vacuum ahead of now)The $index has been in a bullish continuation trend for over ten years now ever since that reversal Bullish bat pattern completion back in 2011 as an effort to recover USD and US economy from the 2008 recession. We have witnessed some 6 year long price consolidation between 2016 and 2022 (Darvas Box 1) after the price made the first top of the box at 104 back in 2016. This consolidation has finally broken higher into a new zone (Darvas Box 2) this year in 2022. Potential Prospects: 1- Historic 20 year data reveals that there is apparently no resistance between this current price (~111) and 120 price level, it is like a vacuum, nothing in between 2- 120 is the point of confluence between historic consolidation area and Darvas Box target 3- This target at 120 is invalid if weekly timeframe breaks lower than 104 before it hits 120. We shall then deem it a bearish reversal and not continuation, until that happens, this analysis is valid 4- If it breaks higher than 120, we will see about that later Further evidence: 1- FEDs hawkish counter inflation policies 2- Recent Interest rate hike to 3.25% from 2.5% and further news for an increment to 5% in FOMC conference, as told by Jerome Powell (FED chairperson). Contributing to the continued strength of USD against other currencies
ICEUS:DXYLong
by Uzi-Trades-Forex
8
The DXY gameplan (through halloween)DXY has had quite the run and doesn't appear to be losing any steam. It just recently hit my July target level of 108 again... and this time I expect it to act as support as we gravitate towards Monthly R1, R2, and R3 levels. If I were to make a prediction as of today, it's that by Halloween (October 31) we will be knocking at 115. While I don't know the actual path, crawling along this current trend line and having a major run up to 115 level would make the most sense to me. Markets move in waves, I do expect some down before a gigantic push to the top. Time will tell. Lose the trend line and perhaps the overall market gets a nice breather for a relief rally and we reassess. Some interesting levels to note that are not quite as clear on my chart are Traditional Yearly R4 Pivot (111.1) and Yearly R5 Pivot (115.8). One of these could have a reaction as well. It will be important to watch price action as we get towards them for potential pullbacks. Be safe out there!
TVC:DXYLong
by upslidedown
2
Dollar will go higherI think here Everything is clear! it will continue movement to 112.2. DISCLAIMER Remember, there is no place for luck in trading - only strategy! This analysis can change at anytime without any update and it is only for the purpose of assisting traders to make independent investments decisions. We are the only one person who is responsible for our physical, mental health, relationships, success, and money in our lives. So taking a trading or investment risk on the markets based on this idea. You deserve the profit and you are responsible for your potential loss. Any opinions, news, research, analyses, prices, or other information discussed in this idea. Here i anticipated by price action, please do not consider investment advice, Because i'm not your official financial advisor. The author of this analysis does not accept liability for any loss or damage. Press like👍 if you enjoy + comment your opinion about the market or your thoughts, below this analysis.
TVC:DXYLong
by mahfuzazim_TA
4
DXY can rise to 112 and even aboveSince the beginning of the year, the trend for the USD is up and, after breaking above the important phycological 100 figure, the index is trading in an ascending channel and every correction on Usd is bought. Recently, the index reached 110 and a correction followed, this drop was quickly reversed once CPI data were released and the price is now again above 108.50-1.09 zone resistance. I expect a new leg up from Usd and 112 can be the target. Pairs like EurUsd and GbpUsd should be sold on eventually rallies
CAPITALCOM:DXYLong
by Mihai_Iacob
2
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TVC:DXYShort
by Tayyab1211
US Dollar index forecast ahead of CPI US dollar bulls have seemingly halted their accension as they wait for the U.S. inflation data that is due this Tuesday. The market is predicting that August's headline CPI may edge lower by 0.1%, further strengthening the case that US inflation has peaked. Even so, it is said that the US dollar has priced in an 85% chance of a 75-basis-points rate hike from the US Federal Reserve next week, Wednesday. Fed chair Jerome Powell has reiterated several times over the past few weeks that the central bank is not yet looking to taper off the pace of their rate hikes. Looking at the current price action solidifying ahead of the CPI, the DXY pulls back after the RSI reaches above the 70 level, highlighted in the circle, signaling that the price is overbought. The dollar index fell to a one-week low of 108.900, just below an area that has recently acted as a pivoting point. The wick from last week’s last candle suggests that a demand zone might be causing a firm rejection below 108.900, at least until the CPI data remains unknown for the next 48 hours. It may be too soon to say that the upwards momentum has been disassembled. As such, the expectation of a bullish push is still in play, and the price may still reach targets suggested by the Auto Fib Retracement Indicator. Targets in play include last week's peak at 110.700, and 111.950 a little further afield. The DXY price closing within the plausible demand zone at 108.000 - 109.000 will open the DXY to bearish price targets indicated on the chart, including 107.300, 106.750, and 106.200.
BLACKBULL:DX.F
by BlackBull_Markets
20 Reason for Long DXYUpdate 07/09/2022 1 Structure 1/2: Bear 2 imbalances : Correction target marked 3 Current Move1/2 : Corrective 4 Entry TF : D1 4.1 ETF Structure: Bull 4.2 move : impulse 5 Support Resistance: Pull Back support waiting 6 FIB: waiting according to drawing for buy entry 7 candle Pattern: shrinking candles 8 Chart Pattern: 9 Volume : decrease correction now 10 Momentum: Bullish 11 Volatility : Divergence 12 strength: full favor of bulls 13 Sentiment : No1 14 Final Summary: go with Bull buys all signs are favor of buyer 15Buy /Sell/Wait : wait for buy 16 Entry:108.222 17 Sl: 107.555 18 Tp: 114.555 19 Risk to reward Ratio: 1:13 20 Excepted Duration : 45
ICEUS:DX1!Long
by Optimum369
1
How High Can The DXY Go Without A Correction?? SHORT then LONG?The Dollar is surging and nothing seems to be stopping it the DXY has been rallying for nearly 16 months straight without a correction. We have just taken out the 2002 September high this also being at a SUPPLY/SELL zone from 2002. I suspect we may get a short term correction soon down towards the newly created DEMAND/BUY zone between 103.5 -100 this would be a nice area for buyers to come back in. If the correction does happen the long term target could well be above the 117 level which is also a SUPPLY/SELL zone which sits bang on the 50% level of the overall range taken from the overall highest to lowest points you would expect strong selling here. Giving the current moves on the dollar it could literally run straight up to the 117 area without stopping though i suspect a correction to 103 will happen I will wait for a weekly or daily close back inside 110 area and a SELL signal on my indicator to occur to confirm the correction. If it does correct to the 103 area i will again wait for confirmation BUY signal and price action to reconfirm the move up.
TVC:DXYShort
by TheFxAce