USD index is approaching its resistance at 7.016(61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 6.973(61.8% Fibonacci extension *2, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
It will be important for the USD INDEX to break last weeks low if we are to continue to look for USD weakness. The majority of the major currency pairs look to be at support suggesting USD weakness could be in play. If we don't see a close below we would need to wait for added confirmation.
DXY / USD INDEX Technical review This is not an investment recommendation or any call to buy or sell It is just an analysis based on a study of the history of price action Behavior , that may not be a necessarily reason for the success of the structure or repetition. So please make your decision based on your vision . To protect capital and manage your deals...
In this video update, we take a look at the USD Index as we may be seeing a false breakout of the key highs at 97.70. If price closes below this level at the end of the day we could see further downside to the USD.
W1: - Tendency: Upward - Above support, EMA 50 & 78 - Candle: Bullish outside bar --> Up
W1: - Tendency: Upward - Above support, EMA 50 & 78 - Candle: Bullish outside bar --> Up
EURUSD is back at previous lows and trendline resistance. We also have a 50% Fib level sitting at the resistance adding confluence. IF we see USD strength continue we can expect EURUSD to move back towards the 127.2 extension. Be aware that it is later in the week and we could see a weekly false breakout for USD weakness to continue. If the price doesn't close...
NZDUSD continues to pullback towards the key daily lows at 0.6700. Looking at fibs we can see the weekly 61.8 fib overlays with the key resistance. This adds weight to our resistance level and we will look for a short opportunity from this level. We are currently long into these lows and stops have been moved to breakeven to see if we can run up to targets before...
In this video update, we take a look at the USD and how it could perform. With FOMC coming up we can expect the Federal Reserve to be dovish in their tone as recent data shows a fall in inflation. This will be something that the Fed will address in their statement, any talk of cutting rates could see the USD drop significantly however if they keep to a moderate...
The USD index has fallen today despite the increase in GDP. Even though prices are falling currently we could see a weekly close above the range. If we do see this then we can assume that the USD Index could re-test the 97.70 next week before seeing further upside.
In this video update, we take a look at NZDUSD as we posted a trading opportunity from the daily chart. We took this trade due to the market finding support at the yearly low. Typically the yearly highs and lows can offer support and resistance areas for the market react from. The NZD is benefitting off the current USD weakness and if the DXY pushes back towards...
In this video update, we take a look at the USD Dollar Index as the price is back at the key 97.70 highs. The Fed is currently hawkish on the recent data with the potential of a hike in 2019 still on the table. This has helped the USD push back into the key resistance and if the price breaks the 97.70 highs we can look for further USD long opportunities across the...