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LONG DXY Approaching support , Prepare For A bounceDXY 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 carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYLong
by ICmarkets
1
DXY Approaching support , Prepare For A bounceDXY 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 carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYLong
by Klimex
DXY Approaching Resistance, Prepare For A Reversal 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 risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYShort
by Klimex
DXY Approaching Resistance, Prepare For A ReversalDXY 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 reversal is expected. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYShort
by Klimex
US Dollar Currency Index (DXY): Chart pattern analysisConclusion 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 rectangle top formation. The former is ideally bullish, while the latter is ideally bearish. It is important to keep in mind that these are the ideal expectations for the patterns mentioned but they can also appear in a continuation position on a chart. Hence, trend can proceed even with the appearance of a rectangle top formation and a bullish breakout occur. Oppositely, a bearish breakout can occur from an ascending triangle and the non-confirmation of the pattern itself can result in severe bearish consequences or move. In either case, the width of the pattern is marked on the chart and should be used for projection on eventual confirmation of either chart pattern.
TVC:DXY
by Coin_Analyst
DXY approaching Support, Prepare For A Bounce 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 high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYLong
by FlowState
USDCHF ShortThis 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 @1.001. www.bnnbloomberg.ca Daily: Weekly: Confidence: B (will wait for how Powell's speech will go later. Also need to close this trade too before other USD econ news later this week)
Short
by aiza_belle