Dollar index will continue to drop testing 95.50 current price is rejecting fibo 50-61 area and constantly moving below WMA (dynamic resistance) the structure itself may form M formation and we need to see if DXY forming double bottom or reversal pattern
DXY is approaching its support at 96.80(61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback support) where price is expected to bounce up to its resistance at 97.25 (horizontal swing high resistance, 61.8% Fibonacci extension). Ichimoku cloud is showing bullish where a corresponding bounce is expected. Trading CFDs on margin carries...
bearish signal also on the daily time frame for the US index
on weekly time frame it started to indicate a bearish wave is coming
GOOGL, SHS pattern on W1: Down ! - Downtrend forming -> SHS pattern forming
This pair is about to reach its current resistance 1.012. Getting ready for possible reversal in case USD index reverses down too and doesn't rise all the way to 100. Shorting this pair @1.005 or near it (depending on how price action plays out later) after Powell's speech later (so far I'm bearish in USD overall). Initial TP is @0.9985-1.00 and SL...
DXY labeled in a complex corrective structure which could lead towards a bearish impulse ahead. If you like my work, please support me with a like. More details in my signature. Many pips ahead!
DXY or the US Dollar Index has been rallying for eight days. Thus, the culprit to why most of the major pairs are on the negative. More upward rally? Or a retracement back to support in preparation for another leg up?
Symbol: DXY - U.S. Dollar Index Timeframe: Weekly, Daily and 4 hour Predicted Direction: Long DXY - U.S. Dollar Index updates will be available in the comments section below.
The Dollar Index has been trading inside a strong and fairly stable Channel Up pattern on the 1W chart. Its current technical action (RSI = 51.671, MACD = 0.800, Highs/Lows = 0.0000) indicates that the price is near a Higher Low and as seen on the chart (based on its extreme measurements) this should be around 95.45. We are taking this opportunity to go long, TP =...