Two weeks ago, the USD was seen to obviously be in a bullish divergence and was squeezing to burst up.
On Friday, it just did that... so to demonstrate the daily chart would be used instead.
The USD (no surprise here) popped up on Thursday and Friday. On Thursday, the USD index bounced off the descending wedge support and Friday's candlestick was a Gap Up,...
#DXY #USDindex (Update)
Forming Falling Wedge Pattern in 8h Timeframe.
RSI Printing Bullish Divergence.
In Case of Breakout, Target Would be 91.20 (Resistance)
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📈If all the NFP Data come out better than the forecasts, the #USD will rise.
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DXY is currently moving with a down trendline but i think we are going to break it.
DXY just above 90 level and seems rejecting it.
I believe that this setup is a long term one and just opened a position.
92 is the goal.
The U.S. Dollar has lost almost 13% of its value since it topped out at 102.99 in March , it has tumbled as the federal government carried out multiple fiscal rescue programs to buffer the economic damage from the coronavirus lockdown in the first half of the year.
The chart above allows us to put U.S. Dollar's entire decline since March 2020 high in the Elliott...
Hello traders,
The US dollar has been in a strong downtrend in the recent months as risk sentiment improved significantly. Markets are always looking 6 to 18 months in the future, and positive vaccine news promises global economic recovery in the next year.
Moreover, US President-elect Biden's plans to increase fiscal spending puts additional selling...
The market has broken the trend line. Now the price is between a support and a resistance level. I recommend you to wait for a retest and then open a sell position. Target is 88,881.
Pattern: Channel Down on 4H.
Signal: Sell once the price approaches the 4H MA50, which has been acting as the Resistance since November 04.
Target: 91.220 (a -0.75% decline from a projected 4H MA50 contact point).
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Here is the top-down analysis for EURUSD, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
#DXY (update)
USD Index (DXY) has been Moving Between S/R Area From last 4 Months.. (Accumulation Phase)
On the Other, Bulls Rejected the Bearish Trendline Many time in last 10 Months & Now, Once Bulls Pushing it towards the Trendline.
If this Time, Trendline got Cleared, Then I'm Expecting Bullish Wave towards the Fibonacci Level 0.50 (97.5)
In Worst Case,...
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time techniques have been used:
fibonacci time cluster + time counts by important multiplier + trend vibration technique = time cluster
and price cluster, consist of price fibonacci
