DXY Bearish Cross on 1D MA50/100. Repeat of the 2017 pattern?The DXY has just formed a MA50 (blue trend-line)/ MA100 (green trend-line) Bearish Cross (BC) on the 1D time-frame. This alone has mostly been a sell sign in the past 4 years. What I am particularly more interested at is a similar occurrence I spotted on the fractal from 2017/ 2018.
The USD Index was trading on a 1 year Channel Down when the 1D MA50/100 BC took place, similar to the Channel Down it has been trading in since 2020. The 2018 BC delivered one last Lower Low within the Channel Down that formed the market bottom for the years that followed. That bottom was made on the -0.236 Fibonacci extension. That is currently just over 86.500. Can a similar Low be made this time? It is very possible with the fundamentals agreeing too, as the new Biden stimulus should further devaluate the USD. As you see the RSI and MACD fractals are also fairly similar.
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Dxysignals
DXYas I said on March 21 ... DXY is in a strong downward trend and if for 1 week it rejected 3 weeks in a row from the Fibonacci 0.5 area, I expect it to continue the descent to Fibonacci 382!
...even if it climbed to the Fibonacci 786, DXY continues its downward trend we were talking about and will reach the Fibonacci zone 0.382 where it is a very strong area ... and even if it rejects and rises again to the 91,950 area ... the trend is in continue to descend!
...as I said last week DXY rejected from Fiboinacci 382 and closed under Fibonacci 0.236 from where ... even if it will go down a little to the area 89.800-89.300 I think it will start an ascent and will form a W
THIS WEEK...exactly as I said in the last 3 months DXY rejected from the 786 Fibonacci level and went down thus closing the Fibonacci chart that I drew 3 months ago!
From this area, I expect DXY to reject and start rebuilding the W I've been talking about lately ....
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DXY long-term selling pressure.Pattern: Channel Down on 1D.
Signal: Sell once the Support breaks. The emerging 1D MA50/MA100 Bearish Cross was last seen on June 16, 2020 and formed a top.
Target: 87.000 (just above the 1.618 Fibonacci extension).
Most recent DXY signal:
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DXY- A clear falling wedgeSince the beginning of May, USD was weak and dropped again under 90 figure.
However, the drop is not impulsive and the lows are marginal, forming a falling wedge on the lower TFs.
A break of wedge's resistance could lead to acceleration to the upside and we finally can have a correction on usd pairs
DXYas I said on March 21 ... DXY is in a strong downward trend and if for 1 week it rejected 3 weeks in a row from the Fibonacci 0.5 area, I expect it to continue the descent to Fibonacci 382!
...even if it climbed to the Fibonacci 786, DXY continues its downward trend we were talking about and will reach the Fibonacci zone 0.382 where it is a very strong area ... and even if it rejects and rises again to the 91,950 area ... the trend is in continue to descend!
THIS WEEK...as I said last week DXY rejected from Fiboinacci 382 and closed under Fibonacci 0.236 from where ... even if it will go down a little to the area 89.800-89.300 I think it will start an ascent and will form a W
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GREAT ATTENTION:
Our analyzes have an accuracy of over 92% in the last 5 months
We also recommend avoiding short-term trades during this period because news can appear at any time that can destabilize the market.
*This information is not a Financial Advice.
DXY Sell SignalPattern: Channel Down on 4H.
Signal: Sell as the price reached the 4H MA100 (green trend-line) which previous formed a Lower High on the pattern, while the RSI is on its Resistance Zone and the MACD about to make a Bearish Cross.
Target: 89.700 (just above the Support and the 1.236 Fibonacci extension).
Most recent DXY signal:
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It's All About The Dollar StoryThe chart you see above is the Dollar monthly chart showing the last 40 years..... As you can see, the last 3 times we got a cross of the Orange 21EMA & Blue 50EMA, we saw a drop in the dollar for 5 years, followed by another 5 years of sideways action for a total of 3650+ days. You'll also notice we have plenty of room to push further down on the RSI, MACD, and momentum indicators. I personally think history will repeat, this last dollar pushes up is temporary IMO and will continue to plunge throughout 2021 and beyond.
I've seen many say they believe the dollar will die of strength rather than weakness, but I personally do not agree with that sentiment. I've posted about the dollar a few times in the past and I've continued to hold my bearish outlook on the dollar for several years now. From a fundamental perspective, the dollar will continue to weaken as long as the FED continues to print us into oblivion. Even if we stop, we'll likely only see temporary strength IMO. Overall, the strength we've seen in Stocks, Gold, Silver, Bitcoin, and the crypto markets shows the weakness of the Dollar, and I believe this will continue throughout 2021. It's possible we see a bounce, but unless we see a large push back above the moving averages toward the 95 level we should expect further weakness from the dollar.
Remember, be patient, stay level-headed, non-biased, and ahead of the crowd.
You can click the charts below to see my previous 2 Dollar charts from last year.
DXY weak below the 91.435 Resistance and 4H MA200The U.S. Dollar Index (DXY) has been rejected multiple times on the 91.435 Resistance since April 21. This is a sign of weakness on the short-term which may jump onto the long-term too is the 4 month Higher Lows Zone (green) breaks, in which case the target will the the February 25 Low of 89.680. With the MACD on an aggressive Bearish Cross, rejected also on the major zone, as long as DXY is trading below the 4H MA200, the sentiment is bearish.
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DXY (USINDEX) buying from Support Level !!HELLO FRIENDS
As i can this US $ is getting strong an it had made a successful break to the running trend
if we have a look @ economical data output for Apr it is showing us a positive recovery and green back in $
So on the base of technical analysis we are expecting this US INDEX soon will achieve our design TP levels
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DXY long-term trend bearish but possibility for one last spikePattern: Channel Down on 4H.
Signal: Two sell positions, one now and the other in the event of a 0.786 Fibonacci spike, similar to what took place after the previous two 4H Golden Crosses.
Target: 90.350 (the bottom of the Higher Lows Zone).
Most recent DXY signal:
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DXY Emerging Death Cross on 4H.Even though the previous 4H Death Cross failed (February 19), the one that is currently emerging, resembles more that of October 19, 2020 both in term of RSI and MACD. Following the breaking of the Higher Lows trend-line as mentioned on the previous DXY idea, testing of the two Support levels seems the more logical course. What follows after that is highly speculative but if the Higher Lows Zone of 2021 breaks, then the U.S. Dollar Index should resume its previous long-term bearish trend.
Most recent DXY idea:
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