DXY - XXXUSD pairs tradingDXY is reaching the resistance of the bearish (rising wedge) pattern. Also it is going to hit the previous ATH.
1. If those events occur it is highly likely that DXY will fall to the support line of the rising wedge. This will provide an opportunity for day trading (long) major XXXUSD pairs.
2. If the price breaks out the support downwards, there will be high odds for swing trades (long) of major XXXUSD pairs.
Dxyshort!!!!!!!!!!!!!
DXY (Dollar Index) | Small correction♻️Hello traders, DXY in 1-hour timeframe, this analysis was prepared in 1-hour timeframe but has been published for a better view in 2-hour timeframe.
The dollar index of wave b is within wave c of four hours in time, and this wave will be one of five waves.
From wave c we think that waves 1, 2 and 3 are formed and wave 4 is being formed. According to the current structure, this wave is likely to be formed as a triangle and from this triangle the waves e and d remain, Wave d ends on the upper side of the triangle and wave e is likely to hit the lower side of the triangle and form the fifth wave of wave c in the middle of the path. The fifth wave can eventually reach Fibonacci 2.618 for wave c. Move relative to wave a so wave five is weak and short.
If the blue trend line and the lower side of the triangle are broken, the descent will be confirmed.
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DXY (Dollar Index) | The last point to fall 🔥Hello traders, Dollar Index in 4-Hour Timeframe This analysis is prepared in 4-hour timeframe but has been published for a better view in 8-hour timeframe.
At this time, we still preferred that the wave count be arranged in the same way as the previous analysis scenario.
In this scenario, the dollar index is inside its fourth wave at higher times and is forming from the fourth wave of wave b. Wave b has reacted exactly to Fibo 1.38 and is building a ceiling. Move towards this Fibonacci and will continue its decline for wave c to Fibonacci 1.27.
But if wave b moves beyond Fibo 1.38, wave c cannot pass through the end of wave a .
Also, the zigzag formed for wave b , wave c relative to wave a if it moves beyond 2.618 will be completely analyzed field.
It should be said that we had other scenarios in mind, and if the black trend line is completely broken, the decline will be confirmed.
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We can expect the dollar to get weaker due to negative NFP US dollar index is trading close to the September 2020 high. I expect price to extend towards this high at around 94.760 and fall to 93.500 and later to 92.000.
This September 2020 high is very strong as price reacted there quite sometimes, acting as support and resistance in the past. I believe price will be held strongly there and bears will defend this area and push price down.
With NFP data that came out negative on Friday, I expect the dollar to weaken the coming week.
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DXY (Dollar Index) | Probability of the last climb🔥Hello traders, Dollar Index in Daily Timeframe , In daily time we are still inside wave b and wave b has been flat, with waves a and b formed and the last wave (wave c) remaining.
Microwave, wave c will be counted in four hours, but in this time we generally considered two possibilities.
In the first probability, after the break of the Fibonacci 0.38, wave b continues to climb to the Fibonacci 0.50 relative to a , and in this Fibonacci trend, the trend should continue to be ascending or descending.
And in the next possibility, a decline will form and continue to the middle line of the channel, and then there will be an ascent again.
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Important week for DXY to determine directionThe DXY is trading at an important level. The upper trend line formed near 97 serves as litmus test to where the price action will go... Our bias is towards the downside but only slightly and we will stay agile and flip our bias if proven wrong.
BEAR CASE
Price should see a test of the 97 levels early next week where it should find resistance. If this plays out, we are targeting the bottom of the channel to exit our short trades.
BULL CASE
If price breaks through the trend line with conviction, we will enter a long position to the trend line on pullback.
PS: Control your risk, the macro situation is not out of the woods yet.
DXY (Dollar Index) | Small correction♻️Hello traders, DXY in 1-hour timeframe, this analysis was prepared in 1-hour timeframe but has been published for a better view in 2-hour timeframe.
According to the time of the four-hour ascent, we considered the fifth wave from the 5th wave of c .
Wave 5 of Wave 5 has completed waves 1 and 2 and the third wave is forming its own microwaves.
We assume that first a descent will take place around the area we have specified, and then the ascent and completion of wave 3 and the formation of wave 4 from 5 to 5 will take place.
In general, it should be said that the decline that we thought was possible requires a strong roof to start, and this movement process that we have identified is the best roof.
And if Fibo 2.618 is broken, this analysis will be fielded.
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DXY (Dollar Index) | The best area to fall🔥Hello traders, Dollar Index in 4-Hour Timeframe This analysis is prepared in 4-hour timeframe but has been published for a better view in 8-hour timeframe.
Both of the previous analyzes we published in the four-hour time, one of these probabilities was that wave c of wave b of wave 4 did not end at higher times and wave c would be forming its fourth wave. And then climb up to form wave 5.
And the next possibility was that wave b of the four is completed and wave 1 of wave c is forming and we will have an ascent correction in the form of wave 2 for wave 1.
This climb happened but it has become very deep in terms of price.
For this reason, considering the wave 1 that we had in mind and its three-wave mode, we doubted the nature of this scenario and assumed that it would be wave 4.
And we considered the first scenario. This climb will probably continue and will happen to form a strong roof and prepare for the descent, but if it can not break the previous ceiling, the second scenario will not lose its validity and also a fast and strong descent Arises.
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DXY ShortDXY to 80! Is it possible you may ask? From a technical outlook DXY has finished an ABC pattern and was rejected at the .386 fib level. From a fundamental perspective the FED will be last in raising it's rates compared to the major Central Banks. We already see BOC and other majors reducing their asset purchases and plan to raise rates soon. I can see this move happening over the next 2 quarters
DXY IndexThe month of October started off with a strong bearish move for DXY as it rebounded from a strong resistance level (94.50). Further downside seems likely with the exception of 93.50 where a small reaction can be expected.
We are rooting for bullish XXXUSD pairs in the coming days, let us know what you think in the comments below.
DXY (Dollar Index) | Small correction♻️Hello traders, DXY in 1-hour timeframe, this analysis was prepared in 1-hour timeframe but has been published for a better view in 2-hour timeframe.
The situation with the dollar index is still unclear.
But we assume that the fifth wave is from wave c and with these waves, wave b is completed and the downward trend for wave c is formed in the form of five waves.
Of these five waves, wave 1 is being formed.
Micro-waves 1 and 2 of 1 are certainly over, and now we think that wave 2 will hit the ceiling of the blue channel, we will have a climb to the floor in the form of wave 4, and then re-descend for wave 5.
It should be said that If the ceiling of the descending channel is broken, the price will rise to around 94,200, which is probably related to wave 2, but it could be the fifth wave of wave b, which we will examine along with the trend.
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