What's up trading world! Hope you have been well & taking care of yourself in these uncertain economic times! I am back with another DOLLAR INDEX update, now I did say I would update at the end of June however, with 1st July being a Friday, I wanted to observe how the market plays out so I could give a move comprehensive update!
UPDATE:
1. Bearing my previous...
#usddollar, 15th Key reversal bar, next Insurance bar indication for short dollar. 105.55-60 resistance level for previous fall. High probability to hold this support to form double top. price may go rise up a little to catch stop losses of short traders. Target is 103.00.
I anticipate US dollar index to loose strength in the coming days. The index has declined so much since May 12 breaking below the 5 May low. From then the index began to correct in a bearish wedge formation which suggest that the bearish momentum is more likely to resume soon. I will keep an eye to the wedge if it gets violated to the bottom I will consider going...
EURUSD has broken the previous lower high to confirm the push to the upside. Buy the pullback on which price action will confirm the move to the upside. Trade with care and Goodluck.
Please like and follow for more accurate trade ideas.
DXY vs. GBP/USD Long Correlation Trade:
DXY shows bearish price action:
> bearish trendline break
> First lower high + lower low
> Muliple-MA break
> Head-n-Shoulder Formation
GBP/USD demonstrates a high negative correlation with DXY . To keep the spread tight, I would suggest going long GBP/USD , instead of short DXY .
DXY pullback overdue, wall street bank...
Review of the key levels in the major markets as the US continues to edge lower.
US share market staged a late rally to fend off the bears which has led to a strong Asian market open as traders go bargain hunting. The general trend remains down with the USD, Inflation and Interest Rate Rises in focus.
BITCOIN and ETHEREUM took a beating as BTC spiked below $30k...
DXY has been in continuous upward trend for weeks now, to me it looks like the price has reached its peak for time being, hopefully SPX and BTC will be able to see some upward movement in upcoming days if this is correct.
USD index likely bto fall to the zone around 102.603 or a little below it with respect to the fibonacci pattern 50>>70% which aligns perfectly with the zones and chart as seen respected 50% and so our next target is 70% whichb is a zonne and also has liquidity to be taken out
Since 2015, USD Index is trading in two ranges: one between 92 and 100, and the large range boundaries, between 90 and 104.
After a strong and clear break in mid-April of 100 resistance, DXY has accelerated its gains and now is trading exactly under 104 resistance.
If you also look at the daily chart you can see that a small triangle is forming under this...
Hey traders, in the coming week we are monitoring DXY for a buying opportunity around 103.1 zone, in the 4 of May we are coming across the FOMC event where we expect USD to gain strength and remains bullish prior to that.
we highly recommend taking a look at DXY in the beginning of every trading week if not everyday, that will help you to spot the direction of USD...
The recent US interest rate hike and an “unexpected” dovish statement given by the ECB during the EU interest rate decision this month provided further bullish momentum for the DXY . However, no key levels are actually broken at the moment and DXY is still moving well within the yearly channel between the level of 89~90 and 102.50~104. DXY is currently approaching...
USDMXN has broken the double bottom neckline and looking to make new highs to the upside. It is only a Buy when price action does not break the previous low and bounces off the flip zone to the upside. Trade with care & good luck.
AUDUSD is ahead and looks to be making a lower low to continue the downward movement to the downside, we will be adding more positions to this trade as we have no risk anymore to this trade. It is advisable to wait for a retest of the new resistance that is formed from the new low. Trade with care & Goodluck.
