Welcome to this new trading idea! We are looking at the 15min chart of the Dollar Currency Index. Price did nearly touch last highs. Looking at the daily timeframe we can see that price consolidates a lot in this area. Also there is a wick candle forming for today. Getting back to our 15min chart, price retraced and made a peak high with divergence on our RSI....
The blue zone shows an area where price has previously acted as a resistance and where the green zone has also previously acted as a support, so i am expecting the Dollar to drop to my green zone
Intraday target: $96.90 Long-term target: $100
DXY reversed off its resistance at 97.69 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance, channel resistance) where it could drop to its support at 96.71 (50% Fibonacci retracement, horizontal pullback support). Stochastic (55, 5, 3) reversed off its resistance at 96%.
If price continues to show rejection from the resistance region 0.68 then we will keep on shorting this pair with the strength of dollar.
The US Dollar Index might have formed a meaningful top at 96.85/86 levels last week before reversing lower on Friday. The index seems to be testing the recent swing highs and could reverse lower from current price around 96.75 levels. Let us have a re-look at medium term and short term wave counts for clear direction. The medium term outlook suggests that a flat...
I know not a lot of people normally analyse the dollar index, my broker does not support it but can still analyse this. MONTHLY CHART On the monthly chart biggest dollar weakness seems to be over. The facts: -Price dropped of like a year ago, broke lows, so created a downtrend. Price recently tried to break highs to go bullish again but looks like it...
90.52 to 90.30 area saw bear momentum take the dollar down, but ever since its been coming back up to retest broken support. We are currently seeing bollinger bands narrow down and likely a move will happen soon. Price action tells me that we are still in a bear trend and we would have to be careful if thinking about buying with the landmines around 90.30 and...
touching the swing low, so a bounce back up should be coming soon, but it depends on how good the dxy will perform.
Going to retest the resistance with keeping the support on the swing low. with DXY being bullish at the moment, this move is highly likely to happen.
USDCHF Possible Short Scenario,wait for price to break entry level.
Dollar Index: DXY So far DXY is displaying precisely the kind of technical price action you'd expect of something in the process of breaking down lower...the tiny continuation pattern with a bearish upwards slope, every move contained within the parallels that control this inverted flag formation. The dollar will try to rally from the lower parallel of the...
Good day, All! The daily bearish DXY project is currently forming. Once point 5 is shaped, it can provide quite an interesting short opportunity. If this pattern works, it may also signify the continuation of the major bearish trend which started back in the beginning of 2017:
Dollar Index DXY is sitting on critical support, a break below 91.00 opens the door to 88.50 which is a confluence of: 1) 61.8 fib of the from 78.97 to 103.57 = 88.50 2) it is also the 1.272 fib retracement from 91.98 to 103.57 3) 88.50 area has also acted as previous resistance on 2 occasions and is the break out point
Check the annotated chart. Price trading below 200MA. Retest of the weekly trend-line. Weekly Block EQ tested and held.