Usdindex
Dollar Index: Near a support. Buy opportunity.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 = 98.00.
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USD INDEX - LONGUSDINDEX has finally test the resistance of 97.5, as we are now waiting for a breakout to the Supply Zone
of the 127% Fibonacci Retracement.
As the Fed Reserve has promised 2 rate hike for 2019, we shall see more of the up movement.
US Dollar Index heads for more riseTarget: 100.00
Risk: 95.80
Technical reasons:
The continuous move inside the ascending channel provides signal to continue the bullish trend on the short term and medium term basis, and surpassing 97.94 will push the index to 100.00 barrier.
The exponential moving average 50 supports the expected rise, and consolidating above 95.80 is important to continue the bullish trend.
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Key levels one to watch for king Dollar!Trade Set up – Following on from our previous analysis, we feel a break above the YTD high of 97.20 would signal a bullish confirmation and this comes at a time when so many other G10 currencies just hold so few attractions. Our entry is set once price breaks the highs, although the preference, as always, is to avoid the initial break and buy the re-test.
Our medium-term target remains unchanged at 98.00, with potential for a bull case of 100, although we see growing risks of a decent USD reversal in Q1.
Short-term risk management would see our stop loss below the previous daily close and longer-term outlook below the recent support level of 96.00.
Why We like this trade – With a strong focus on current price levels, a break above the YTD high would signal a strong bullish trend and confirm our original thoughts. Naturally we want to focus on potential price drivers and these fall on US CPI -0.45% and retail sales this week, as well as Jerome Powell’s speech on Thursday. That said, we also want to see ifEURUSD -0.26% can break 1.1301. German Q3 GDP (due Wednesday) should contract 10bp, and highlight just limited the ECB are in ever raising rates, while the Italian debt debate will be front and centre again this week. A move through 1.1301 should push USD index through the highs given the EURs 0.00% 57% weighting on the basket.
It’s interesting to note the key 50- and 200-day EMA have held firm, with strong rallies in price once these levels have been tested in the past.
Disclaimer.
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation
Silver in Dollar strength's shadowXAGUSD, H4 and Daily
By Andria Pichidi - November 12, 2018
Recent US data, such as last Friday's hot PPI numbers, and the Fed's policy guidance following last week's FOMC meeting, have fanned expectations for a resumption in Fed tightening at December's policy meeting, which has underpinned the US currency. The USDIndex has gained 0.5% in posting a 17-month high of 97.38, while EURUSD has concurrently printed a 16-month low of 1.1268 and USDJPY a 6-week high at 114.20.
This drags commodities to week lows, with Silver futures near $14.10, on USDIndex strength, despite the risk-off theme. The Chinese economy, which is slowing faster than expected amid growing risk that the country will have to backstop its economy with further measures to slow the outgoing tide, risking increased debt to do so, has underpinned commodities as well.
On Friday, the XAGUSD confirmed a close below the descending triangle set since June and the up-channel formed since end of September. This decisive move below the 2-month Support at around $14.20-14.22 area, and as the pair remains below this barrier so far today, assured the switch from neutral to negative outlook.
According to the momentum indicators, the market could maintain negative momentum in the short-term as the RSI flattened below 30, while the MACD oscillator posted a bearish crossover with its signal line in the 4-hour chart. Meanwhile, the MAs formed a bearish cross, with both 20-and 50-period MA crossing below 200-period MA. In the daily timeframe, XAGUSD’s picture is neutral to negative as RSI sloped below neutral, whilst MACD turned negative with signal line consolidating around neutral zone.
As the asset confirmed a leg below $14.20 on Friday, the market could retest the next hurdle at the round $14.00 level, but more precisely September’s low at $13.93. In the wake of more negative momentum, the next level in focus could be at the 2-year low of $13.73. To the upside immediate Resistance holds at $14.22, and the medium term at 20-day SMA at $14.50.
Andria Pichidi
Market Analyst
HotForex
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
DXY Short term to midterm down trendUSD Index broke the line after breaking the previous top, to take a sell have to wait for a flag for confirmation.
1 - DXY - October Wave Counts & Set-upsDXY – 2H Chart
• Possible bearish pattern, with a probability of an Expanded Flat in Minuette (ii) (black), which could lead towards a bearish impulse in Minuette (iii) (black).
EurJpy. A revisit of old levels with new perspectives.On Oct 5, did an analysis on Eurjpy where the trade was triggered only 3 days later. From execution to achieving the exact Target profit was a total of 8 days.
They always ask what will you do differently if you get to relive your live again or if you are young again?
But the interesting thing about trading is that you get to relive redo and reenact your beliefs and mindsets within hours, days and weeks
The only difference is that every trade is a new trade.
Do not remember the previous winning or losing trade. Focus on the task at hand. It's a NEW trade.Full-s
Key levels to formulate one's trading will be at 130.60 and 129 levels.
Other levels is a waste of time.
