From the 2008 bottom, Usd Index has been trading mostly up and now is trading just under strong resistance that lies at 103-104 zone. Considering the global concerns and Usd safe haven status I expect this resistance to give up and to have a dollar strength dominated year. In the long run (one-one and a half year) a 20% increase in Usd value is not out of the...
There have been 2 great weeks for the Us Dollar, with the index rising about 7 percent. After the index touched the 95 zone 2 weeks ago, the index reversed aggressively and put on a big bullish engulfing from this support. This week the index passed and closed over 100 psychological resistance and is trading at 101.95. I expect this bull run to continue in the...
Short term Elliott Wave view in DXY suggests that the rally from March 09, 2020 low is unfolding as an Elliott wave impulse structure. And shows a higher high sequence in higher time frame charts favoring more upside. While the initial rally to $98.81 high ended wave (1) in lesser degree 5 wave structure. Down from there, wave (2) pullback ended at $97.45 low. The...
100 proved to be strong resistance for Usd Index and the "basket" put in a nice "evening star"candles formation visible on the weekly chart. Now the index is sitting just above support and a break here could accelerate losses towards 93.50 and 92.30. Considering the fact that the losses are made from usdjpy depreciation and eurusd gains a break will also effect...
- waiting for a push to break the downtrend trendline - waiting for retest - then waiting for price action confirmation before entering long patience is a virtue
ENTRY: 98.60+- TP: 98.40 TP2: 98.20 TP3: 98.00 SL: 98.85 Chart time frame - 4H Time for reaching TP - 1-2D Follow, Like, Share or Comment Thanks on supporting! All best!
The decline from 99.66 unfolded as a leading diagonal structure, labeled i-ii-iii-iv-v. According to Elliot Wave theory, leading diagonal always point toward the direction of the major trend. Also, once a five-wave impulse is completed a three-wave retracement follows. In the Dollar Index case, the corrective pattern seems to be unfolded as a w-x-y double zigzag...
Hi traders, Keep your eyes on 5 min time frame for price actions before taking the sell.
INDEX:DXY FRED:DTWEXM Here is an interesting difference between #DXY "The Typical most used USD Index" and #DTWEXM "The Trade Weighted USD Index" that is believed to be more accurate than DXY. The 2 pairs have been identically moving together but now we experience an initiative fall on DTWEXM to break the channel. Is this telling us something about the future...
Welcome to our Academy. We’re here to help you achieve what you have been looking for. Use our free analysis where you have everything you need for potencial trade ideas and profit. USDCAD – Buyers at very good position Trend: Buy/ Neutral Support/Resistance: R3: 1.32490 R2: 1.31750 R1: 1.31150 S1: 1.30471 S2: 1.30000 S3: 1.29500 Price action: In...
As mentioned before, it's in the process of making a correction under the line, we expect the down move if ONLY it breaks the line to the upside and makes a flag the idea will change, but so far everything suggests the continuation of the down move. For now, we have to wait for the correction. Trade with care and stay green. Please let me know your view about...
In this video update, we take a look at the USD and how the recent weakness is affecting other markets. We also talk of using the strategy more recently on the Dow Jones and how it would have played out in your trading.