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$DXY - Next Resistances to Watch *W & *D (tf) TVC:DXY *D (tf) Previous Ideas of Resistance to Watch (before & after 'play button' ) (before & after 'play button' ) Next decent Resistances for TVC:DXY to face will be the 0.5 Macro Fibb Level @107.7 level . Surpassing that via decent breakout, correction may be anticipated as a retest and confirmation for TVC:DXY to continue Higher. Meanwhile on the *W (tf), TVC:DXY managed not to close its 12 Consecutive Green Weekly Candlestick. Whats worrying is that the last Weekly Close was very Bearish in Price Action, printing whats called ' A Topping Tail '
INDEX:DXY
by Mr_J__fx
$DXY -Ballads of the Dollar *W (11 Consecutive Green Weeks) Its time for a Dollar Story ! (previous lin echart idea 100-105 Range; before & after to the current spot) The Dollar Index ( TVC:DXY ) has managed to print 11 Consecutive Green Weekly Candlesticks, rallying up as much as 8 % from its July/2023 99.580 Low. A low violating all Technical aspects, which got us into a Short Idea but not for long before changing bias (idea's live chart) TVC:DXY tried to close in Green its 12 Consecutive Candlestick Print, but failed to do so. However, during this up-rally time of Dirty Mighty TVC:DXY for the past 11 Weeks, heavy negatively correlated assets like $EUR/USD and other major FX pair got slapped on the face mercilessly, as well so did the US Major Financial Markets and other Indexes and Equities, but when comparing them with the Fiat Currencies market, their blood shed was less. Is about time for The Dollar Index ( TVC:DXY ) to cool down for a while and correct ? Fundamentally no, as fear and troubles looms for a US Recession being just around the corner. Technically (TA) speaking yes, it is time for a brief correction, would be totally fine for someone looking in to longing the Financial Markets or exchanging their Fiat Dollars for other Major Fiat Currencies. We can see TVC:DXY on line chart having broken the Range's Ceiling of 100-105, as well retesting it (so far). Holding it as Support or finding itself below again facing it as Resistance shall be proven on upcoming week(s)
TVC:DXY
by Mr_J__fx
$EUR/USD -Quarterly in SHORTOn the Bigger picture, EUR/USD triggered two TP Levels, awaiting for the lower ones. How much Lower can $EUR/USD go ? It's been a very good Summer shorting Euro throughout Q3/2023 . We also longed the up-rise bounce last year lows at 0.95 $ and ride it all the way by end year (Two Quarters opened position) Do not be trapped by the most recent price action of $EUR/USD. Euro is just gaining a little momentum by bouncing at technical levels, as well fundamentally speaking in relation to TVC:DXY which has been on a rally of 11 Consecutive Weekly Green Candles. (so it may be a time for markets relief, considering that TVC:DXY is over-extended and under lots of resistances points like that of Golden Zone Macro Fib that is currently being broken) (Check the TVC:DXY Idea below) Is it up from here ? Looking to long $EUR/USD after having full confirmations of trends shift. For now, its better to trade not against the trend and continue looking for shorting opportunities on EUR/USD Or you can choose to be on the sidelines awaiting for confirmations on TVC:DXY to start showing weakness on what would be its 12 Weekly Strike !!! *** NOTE This is not Financial Advice ! Please do your own research with your own diligence and consult your own Financial Advisor before partaking on any trading activity with your hard earned money based solely on this Idea.
by Mr_J__fx