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DXY - Over-Bought Zone! Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. DXY has been overall bullish for a while trading inside the brown rising channel . However, it is currently approaching the upper bound / upper brown trendline, which I consider a non-horizontal resistance and over-bought zone. Moreover, the zone 113 - 114 is a horizontal resistance zone . So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance zone and upper brown trendline. (acting as non-horizontal resistance) As per my trading style: Since DXY is sitting inside the purple zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
TVC:DXY
by TheSignalyst
21
Why did the Nasdaq Index fall 5% on Thursday?The Nasdaq Composite Index, the benchmark for technology stocks in the US, fell to its lowest level since November 2020 on Thursday, May 5, which can be attributed to a number of factors, including lacklustre earnings from e-commerce firms like eBay (NASDAQ:EBAY) and macro-economic factors like the Federal Reserve's monetary tightening. The index fell 4.99% on Thursday to 12,317.69. The sell-off came amid a dismal performance by the overall US stock market, with the Dow Jones Industrial Average also shedding 3.12% and the S&P 500 slipping 3.56%, its second-worst since the start of the year. Calm before the storm Prior to the drop on Thursday, the Nasdaq rose 3.19%, its biggest gain since 2020. The S&P 500 likewise rose 2.99% that day, also its biggest in about two years. The Wednesday rally came as the Fed hiked interest rates by half a percentage point, which was widely expected by the markets, and as Fed Chairman Jerome Powell said, the central bank will not be considering a more aggressive rate hike in its future meetings. The rate hike last week marked the Fed's first 50bp hike since May 2000 as the central bank seeks to ease-into the taming of red-hot inflation and a tight labor market. Aggressive rate hike unlikely A "75-basis-point increase is not something the committee is actively considering," Powell said Wednesday last week during a press conference after the Fed's monetary policy meeting. The appetite for US equities on Wednesday was spurred by this and Powell stressing that the economy is resilient and is well geared to withstand tighter monetary policy. The optimism boosted the shares of Apple (NASDAQ:AAPL) and Google parent Alphabet (NASDAQ:GOOGL), both rising more than 4%. Swift reversal However, the next day, Apple tumbled 5.6%, while Alphabet slumped 4.7% amid a tech sell-off that dragged on Wall Street and sent the Nasdaq plummeting at the sharpest rate since 2020. Amazon (NASDAQ:AMZN) also sank 7.6%, while Tesla (NASDAQ:TSLA) fell 8.3%. Tom di Galoma, managing director at Seaport Global Holdings, said there was no reason to buy the dip in equities with more tightening underway and "because it doesn't look like inflation is going anywhere". Deutsche Bank strategist Jim Reid warned that the market slump on Thursday indicated "that there must be an element of doubting the ability of there to be an effective 'Fed Put' in this cycle." However, ING Bank economists said sharper interest rate increases could lead to a greater risk of an adverse economic reaction. Interestingly, talk of an economic slowdown in the UK (in conjunction with a rate hike by the Bank of England) directly proceeded the sharp sell-off on May 5. Sell-off continues this week This week, the Nasdaq Composite Index has continued its downwards trajectory, falling another 4.29% on Monday, May 5. The Index is now at a 13-month low. On Monday, some of the worst performers include the aforementioned Amazon, haemorrhaging another 5.21%. Even more so, weighing on the index were Tesla (NASDAQ:TSLA) and Rivian Automotive (NASDAQ:RIVN), plunging more than 9% and 20%, respectively.
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by BlackBull_Markets
US30: A Clear Bearish Pattern Offers Good Sell OpportunitiesLast week, US30 has failed to break its April high and formed a double top. It is followed by a sharp price drop breaking the neckline of the double top. This movement is very similar with the scenario back in February, where the price formed a double top, followed by a sharp bearish impulse breaking the neckline. The price eventually retraced back to the neckline area, retested, and then continued its bearish trend. US30 has been in a bearish trend since the beginning of 2022, with price making lower lows and lower highs. Therefore, with recent sharp bearish movement, this is a great indication of bearish continuation. Entry Criteria: Currently, the price is in the bearish impulse stage. Therefore, there is no immediate trading action for us to take now. Our plan is to wait for the price to retrace back to the neckline area (34100~34400), watch the price consolidates on lower time frame charts and then enter sell positions.
UShort
by NicoBeau_Capital
US 2000: A Great Buy Opportunity Is Coming SoonUS2000 is currently moving in a clear ascending channel, accommodated by its recent higher high and higher lows. In the 4-hour chart, we can see that a double bottom has formed at the bottom of the ascending channel and price has recently broken its neckline. This further confirms the bullish momentum. Now, our task is to buy the pullback. The potential buy entry zone is the 1980 ~ 1990 area. First and second targets are the 2070 and 2110 levels, respectively.
ULong
by NicoBeau_Capital
DXY (US DOLLAR CURRENCY) Index Analysis 08/01/2022Elementary Analysis: The U.S. dollar index (USDX) is a measure of the value of the U.S. dollar relative to the value of a basket of currencies of the majority of the U.S.'s most significant trading partners. This index is similar to other trade-weighted indexes, which also use the exchange rates from the same major currencies. Understanding the U.S. Dollar Index (USDX): The index is currently calculated by factoring in the exchange rates of six major world currencies, which include the Euro (EUR), Japanese yen (JPY), Canadian dollar (CAD), British pound (GBP), Swedish krona (SEK), and Swiss franc (CHF). The EUR is, by far, the largest component of the index, making up 57.6% of the basket. The weights of the rest of the currencies in the index are JPY (13.6%), GBP (11.9%), CAD (9.1%), SEK (4.2%), and CHF (3.6%).1 The index started in 1973 with a base of 100, and values since then are relative to this base. It was established shortly after the Bretton Woods Agreement was dissolved. As part of the agreement, participating countries settled their balances in U.S. dollars (which was used as the reserve currency), while the USD was fully convertible to gold at a rate of $35/ounce. An overvaluation of the USD led to concerns over the exchange rates and their link to the way in which gold was priced. President Richard Nixon decided to temporarily suspend the gold standard, at which point other countries were able to choose any exchange agreement other than the price of gold. In 1973, many foreign governments chose to let their currency rates float, putting an end to the agreement. An index value of 120 suggests that the U.S. dollar has appreciated 20% versus the basket of currencies over the time period in question. Simply put, if the USDX goes up, that means the U.S. dollar is gaining strength or value when compared to the other currencies. Similarly, if the index is currently 80, falling 20 from its initial value, that implies that it has depreciated 20%. The appreciation and depreciation results are a factor of the time period in question. The U.S. dollar index allows traders to monitor the value of the USD compared to a basket of select currencies in a single transaction. It also allows them to hedge their bets against any risks with respect to the dollar. It is possible to incorporate futures or options strategies on the USDX. These financial products currently trade on the New York Board of Trade. Investors can use the index to hedge general currency moves or speculate. The index is also available indirectly as part of exchange traded funds (ETFs), options, or mutual funds. we have Analyzed the DXY on 04/01/2021 and it went exactly as we have Predicted it with Laser Cut Precisions which is linked to this idea too for our reference: Fundamental Analysis: looking at the current inflation Rate and given interest rate by FED, we can have some vision of a sad ending for USD, it seems to be a bit over valued and shall correct itself soon. however the best way of understanding this situation is to look at the current US Markets and the related Indices such as US500, US30, and Nasdaq, which we have noticed many sign of upcoming beer Market and Collapse of the Share prices. we have analyzed these Markets and their Related Indices in details and published them few days back which are as follow: S&P US500: DJI US30: NDX Nasdaq 100: we are very much pessimistic on their Bullish trend continuation and we believe soon they will start falling and the bullish trend will reverse to a bearish market. now post this Crisis we have 2 upcoming scenarios: 1- the Fed will Burn the flashed cash of the liquidated positions to reduce the inflation and adjust the economic outcome to have a better future on the US Market which will conclude in the Range Pricing of DXY. 2- the Fall of Market will work as an Initiation of a Fall in the DXY which will ultimately Couse the US Economy to come to the big halt, since this will result the US policy makers to start a new War in the world in order to sell their Millinery products to the Engadget countries in order to earn and receive the additional value of their exported goods in order repair the damaged economy and continue their administration. any which ways the chances of DXY to shoot for higher levels are less but not impossible. as we red the reasons for the fluctuation of the dollar index in the elementary analysis we can have a look at index makers such as EUR ad GBP Indices to Gauge the situation of DXY. we shall Post their analysis soon and will link them to this Idea. Technical Analysis: there exist a Hidden bearish Divergence of Price and MACD after the Regular Bearish Divergence which can be strongly interpreted as the Bearish trend Continuation as the regular bearish divergence has Reversed the Previous Bullish trend to a bearish trend and the Said Hidden Bearish Divergence is the sign of Bearish Market Continuation. at present the Value of the Index has Stagnated to a heavy Resistance area where it seems to be Distributing and deluding the Volumes which can be a good sign of Retracement reversal and start of the new Bearish wave and end of the current retracement cycle. there are some chances that the DXY have more Uptrend development to the 61.8% level of Fibonacci retracement but chances of breaching the Specified Resistance area are very less even if the Price reach to it Mid Levels... there are few support areas defined with Fibonacci retracement where DXY can show some Reaction on the way to the specified Targets. there are total of 2 Targets defined by Fibonacci projection of the same Bearish wave which price is currently at its golden zone. the 1 TP is very realistic to happen by end of 2024 and the second is depending on the words Peace situation.
INDEX:DXYShort
by BitonGroup
The markets may have actually topped...and let it be said that if it hasn't topped as of right this moment...it is FREAKING CLOSE... like sooo close. I can feel it in my bones. The dollar is blowing up. Fed is tightening (so far) They may reverse course and print infinity but that would cause a currency crisis which in my opinion would be wayyyy WORSE. Crypto and other momentum assets are dropping like stones. Cannabis stocks are ironically up. (which I think of as a recessionary signal, similar to cigarettes or alcohol stocks going up during bad times.) We haven't had a 10% since Oct 2020 which is only 10 because I rounded up... The DJI has produced an average gain of +50% per year over the last 2 years sine the massive monetary and fiscal stimulus. What is the average gain per year? How far will we need to fall to get back to the median line...? I think this is the big one. To be honest I thought Mar 2020 was too, but that was just the warning signal. And that huge red arrow there is not the end of it... if this debt bubble is indeed bursting then one would assume that all of the progress because of said debt bubble should be erased more or less. So....at LEAST the last 12 years Hahaha! oh...it hurts... But yeah. This is what I see. What do you see?
TVC:DJIShort
by MonetaryRebel
6
USD Index Bearish Outlook Price Action Analysis Hi everyone: As we can see the current EURUSD price action is pushing to the upside, manage to still hold onto the 2 positions I have. We know DXY will have inverse price action like EURUSD, so lets take a closer look now. After the strong bearish move down on the higher time frame, price naturally needs to correct for a period of time if we are going to see further downside from the price. We can see price started to form the higher time frame flag/channel correction, correcting within. Latest price is started to give us more positive confluence for a bearish outlook. There is a clear few swing highs and lows of the price, with a double tops. On the lower time frame price once again formed an ascending channel reversal, reverse down from the double tops, and top of the HTF structure. We then see a clear bearish impulse pushed down, and continuation correction was form on the lower time frame. Be on the look out for further downside price action next few days to push the price down to the lows. thank you
TVC:DXYShort
by jojofang0901
31
Possible US Dollar making all time highs!DXY SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY SMP Strategy Market Direction: Long Position Chart time frame - MONTHLY Timeframe - 6 Months You will see a very strong USD move to the north which will drive down commodity levels, Metals and the crypto market. This may last for 6 months so hold on!! Plenty of opportunities in the second half of this year! Whilst the dollar gains strength this may spook the market creating a strength in the gold and silver market so keep an eye out for the bounce! Post Quantitive easing 1 through to 4 in the U.S there has always been a strong bull market roughly 13 months after the start of the easing programs. This will give you a rough indication on when to expect the next bull run for the index. If the dollar does get to the projected all time highs this may cause the market to collapse. A – Activating Event Market will meet support in zone @ current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market will move towards the first Target 1 level @ 125.00 C - Fundamentals that may affect the pair N/A D - Trade Management Entered @ 92.8 Stop Loss @ ..... Trailing Stop Loss@..... Target 1 @ 125.00 Target 2 @ .... Risk/Reward @ 1.7 Happy trading :) Follow your Trading plan, Remain disciplined and Keep learning !! Please Follow, Like,Comment & Follow :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
TVC:DXYLong
by SMPTrader
1