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USD (US Dollar)

GOLD (XAUUSD) Structure Analysis & Thoughts gold is just unstoppable. the price is growing like crazy this week. if you missed this movement and plan to jump in, it is too late and very risky atm. the price is relatively close to our next potential reversal area 1823 - 1833. this area is based on a resistance line of a rising channel and fib.extension confluence of the last two major daily impulses. attention! I don't say that we should just blindly short from that area. always look for a confirmation on a lower time frame to trade against the trend. moreover, if you want to catch a bull rally, a pullback from the above-mentioned area may let you buy on a discount from the support of the channel. apply these structure levels based on your strategy and good luck!
FX:XAUUSDEducation
by VasilyTrader
16
EURUSD: Bullish or Bearish??? hey guys, analyzing the price action on EURUSD we may notice that: 1.14 is our current structure high once it was reached, the price dropped to 1.123 structure support and failed to retest the high, setting a lower high. then one more retest of horizontal support. equal lows and a new bullish movement brought a lower high again. for now, bulls are clearly losing momentum. with 4 lower highs in a row, each consequent bullish leg is contracting. the price is currently testing the green support again. being broken to the downside, buyers will most likely lose their confidence, and selling reaction will be triggered. next goal for sellers will be: 1.115 for bullish scenario, we need a 4H violation of the last lower high level. the next goal for buyers will be: 1.129 (previous lower high level) both scenarios are equally possible but I am personally on the bearish side. How about you?
Education
by VasilyTrader
24
EW Analysis: USD Dollar Index May Face Limited DownsideHello traders! Today we will talk about US Dollar - $DXY - USD Index. DXY was in a big sideways consolidation since March, ideally within a bearish triangle in wave B. Currently, we can see it finally breaking into new lows for wave C that can stop in the 97.50 - 96.50 support zone around important 61,8% - 78,6% Fibonacci retracement and from where we may see a bullish reversal at least in three waves, maybe even back to 103 highs, but to confirm our view, we need to see a bounce and recovery back above 100 region. What we want to point out is that if you are familiar with Elliott Waves, then you know that triangles cannot occur in wave 2, so it must be a B wave, followed by the final wave C decline and then the whole structure looks corrective within uptrend. We just want you to be careful at this stage, so don't fall in love with bears just yet, because even stocks can be trading at extreme levels and with a potential sell-off, USD Dollar may be a safe-heaven again. If you like what we do, then please support/follow us! Trade smart! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
TVC:DXYEducation
by ew-forecast
10