DXY W time frame shows divergence. Soon or later bears will take control and it should reverse to around 91.
In this video update, we take a look at the end of day trade we placed on our telegram channel. USDCHF has been moving towards the yearly highs for some time now as the Swiss Franc weakens. Typically, when a market tests a yearly high, we do see a reaction from the level, which we are anticipating to be lower on this pair. If we do see a daily bearish close here,...
EURUSD is currently capped by the key 1.1300 support as well as the 61.8 Fibonacci retracement. With the USD Index struggling to get above $97.00 and could break lower, leading to upside in this market. Look for long opportunities with targets up at the 127.2 Fib extension.
Silver has recently tested the key 14.90 demand zone. With our bias of USD short, we could see our precious metals rise. The Daily chart is currently forming a bullish pin candle from the support, we could look to enter on a 50% retracement of the daily candle stops below the lows and targets the key highs at 15.30.
In this video update, we take a look at NZDUSD as price looks likely to move lower in line with the US Dollar Index. If the Dollar Index finds resistance at $97.00 we can look for long opportunities on NZDUSD. Apply this method to your trades and you may find it helps in your decision making.
The weekly chart closed bearish on the USD index and that sentiment is likely to continue with seasonality favoring shorts also. The 4hr chart shows price working within a wedge pattern, and we expect the price to re-test the upper resistance of the pattern before seeing further downside. We will be looking at bearish price action at $97.00 to short the USD across...
DXY is approaching its support at 96.86(100% Fibonacci extension , horizontal swing low support, 38.2% Fibonacci retracement) where it could potentially bounce to its resistance at 97.47 (100% Fibonacci extension, horizontal swing high resistance). Stochastic (89, 5, 3) is approaching its support at 4% where a corresponding bounce could occur. Trading CFDs...
DXY is approaching its support at 97.03(61.8% Fibonacci extension , horizontal swing low support, 23.6% Fibonacci retracement) where it could potentially bounce to its resistance at 973.70 (100% Fibonacci extension, horizontal swing high resistance). Stochastic (89, 5, 3) is approaching its support at 4% where a corresponding bounce could occur. Trading...
USDCAD is fastly approaching the key 1.3300 support level again as the price of oil continues to push higher. With the USD at resistance, we could see price break below the key support. If we see this happen and the market does close below, look for short opportunities on a lower timeframe at the resistance. With Oil close to resistance we could also see this...
In this video update, we take a look at GOLD as price consolidates at the key support level whilst the USD Index finds resistance. A break and close above the key highs will see GOLD head towards the key resistance highs and trendline. Look for short-term buying opportunities over the coming days if the USD can break below the lows of $97.00.
In this video update, we take a look at the US Dollar Index in order to look for trading opportunities for the week ahead. The DXY is currently finding resistance at $97.70, with seasonality also highlighting a bearish month for the greenback, the price could head back towards the $96.00 support. The 4hr timeframe suggests we could see a change in cycle if the...
DXY is approaching its support at 97.03 (horizontal swing low support, 61.8% Fibonacci extension , 23.6% Fibonacci retracement ) where it could bounce to its resistance at 97.69 (100% Fibonacci extension , horizontal swing low support). Stochastic (34, 5, 3) is approaching its support at 5% where a corresponding bounce is expected. Trading CFDs on margin...
DXY is approaching its support at 97.03 (horizontal swing low support, 61.8% Fibonacci extension , 23.6% Fibonacci retracement ) where it could bounce to its resistance at 97.69 (100% Fibonacci extension , horizontal swing low support). Stochastic (34, 5, 3) is approaching its support at 5% where a corresponding bounce is expected. Trading CFDs on margin...
DXY is approaching its resistance at 97.69 (horizontal swing high resistance, 100% Fibonacci extension*2 ) where it could reverse down to its support at 97.03 (38.2% Fibonacci retracement, horizontal swing low support). Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected. Trading CFDs on margin carries high...
DXY is approaching its resistance at 96.93 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 96.48 (38.2% Fibonacci retracement, 100% Fibonacci extension, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding...
Conclusion for today's analysis: Price action on an eventual breakout should move an equivalent distance of width indicated as a minimum expectation Price action for the DXY (US dollar currency index) is provided on a Daily timeframe with coverage of well over 6 months of price action. The chart patterns in consideration are an ascending triangle and also a...
In today's video update, we take a look at the USD again as we suggested yesterday we should see the USD bounce from the lows and demand zone. The USD index shows that the greenback remains rangebound and highlights the importance of waiting for the price to hit those key supply and demand zones before making trading decisions.