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DXY | Ascending Channel Formation..!! #DXY (Update) Ascending Channel Formation in 3-Days timeframe..!! RSI is Printing Bearish Divergence as well. Seems like Topped out & Expecting Bearish Movement towards the Lower Trendline of Channel. #FOMC ( FED) meeting is scheduled Tomorrow so We can see changes in interest rates which will impact the Market. Be cautious with possible upcoming volatility. 📍 Always Wait for Confirmed Breakout & Candle to Close and Only then ENTER.. Please like the idea for Support & Subscribe for More ideas like this and share your ideas and charts in Comments Section..!! Thanks for Your Love & Support..!!
TVC:DXYShort
by Faibik
DXY (US DOLLAR CURRENCY) Index Analysis 08/01/2022Elementary Analysis: The U.S. dollar index (USDX) is a measure of the value of the U.S. dollar relative to the value of a basket of currencies of the majority of the U.S.'s most significant trading partners. This index is similar to other trade-weighted indexes, which also use the exchange rates from the same major currencies. Understanding the U.S. Dollar Index (USDX): The index is currently calculated by factoring in the exchange rates of six major world currencies, which include the Euro (EUR), Japanese yen (JPY), Canadian dollar (CAD), British pound (GBP), Swedish krona (SEK), and Swiss franc (CHF). The EUR is, by far, the largest component of the index, making up 57.6% of the basket. The weights of the rest of the currencies in the index are JPY (13.6%), GBP (11.9%), CAD (9.1%), SEK (4.2%), and CHF (3.6%).1 The index started in 1973 with a base of 100, and values since then are relative to this base. It was established shortly after the Bretton Woods Agreement was dissolved. As part of the agreement, participating countries settled their balances in U.S. dollars (which was used as the reserve currency), while the USD was fully convertible to gold at a rate of $35/ounce. An overvaluation of the USD led to concerns over the exchange rates and their link to the way in which gold was priced. President Richard Nixon decided to temporarily suspend the gold standard, at which point other countries were able to choose any exchange agreement other than the price of gold. In 1973, many foreign governments chose to let their currency rates float, putting an end to the agreement. An index value of 120 suggests that the U.S. dollar has appreciated 20% versus the basket of currencies over the time period in question. Simply put, if the USDX goes up, that means the U.S. dollar is gaining strength or value when compared to the other currencies. Similarly, if the index is currently 80, falling 20 from its initial value, that implies that it has depreciated 20%. The appreciation and depreciation results are a factor of the time period in question. The U.S. dollar index allows traders to monitor the value of the USD compared to a basket of select currencies in a single transaction. It also allows them to hedge their bets against any risks with respect to the dollar. It is possible to incorporate futures or options strategies on the USDX. These financial products currently trade on the New York Board of Trade. Investors can use the index to hedge general currency moves or speculate. The index is also available indirectly as part of exchange traded funds (ETFs), options, or mutual funds. we have Analyzed the DXY on 04/01/2021 and it went exactly as we have Predicted it with Laser Cut Precisions which is linked to this idea too for our reference: Fundamental Analysis: looking at the current inflation Rate and given interest rate by FED, we can have some vision of a sad ending for USD, it seems to be a bit over valued and shall correct itself soon. however the best way of understanding this situation is to look at the current US Markets and the related Indices such as US500, US30, and Nasdaq, which we have noticed many sign of upcoming beer Market and Collapse of the Share prices. we have analyzed these Markets and their Related Indices in details and published them few days back which are as follow: S&P US500: DJI US30: NDX Nasdaq 100: we are very much pessimistic on their Bullish trend continuation and we believe soon they will start falling and the bullish trend will reverse to a bearish market. now post this Crisis we have 2 upcoming scenarios: 1- the Fed will Burn the flashed cash of the liquidated positions to reduce the inflation and adjust the economic outcome to have a better future on the US Market which will conclude in the Range Pricing of DXY. 2- the Fall of Market will work as an Initiation of a Fall in the DXY which will ultimately Couse the US Economy to come to the big halt, since this will result the US policy makers to start a new War in the world in order to sell their Millinery products to the Engadget countries in order to earn and receive the additional value of their exported goods in order repair the damaged economy and continue their administration. any which ways the chances of DXY to shoot for higher levels are less but not impossible. as we red the reasons for the fluctuation of the dollar index in the elementary analysis we can have a look at index makers such as EUR ad GBP Indices to Gauge the situation of DXY. we shall Post their analysis soon and will link them to this Idea. Technical Analysis: there exist a Hidden bearish Divergence of Price and MACD after the Regular Bearish Divergence which can be strongly interpreted as the Bearish trend Continuation as the regular bearish divergence has Reversed the Previous Bullish trend to a bearish trend and the Said Hidden Bearish Divergence is the sign of Bearish Market Continuation. at present the Value of the Index has Stagnated to a heavy Resistance area where it seems to be Distributing and deluding the Volumes which can be a good sign of Retracement reversal and start of the new Bearish wave and end of the current retracement cycle. there are some chances that the DXY have more Uptrend development to the 61.8% level of Fibonacci retracement but chances of breaching the Specified Resistance area are very less even if the Price reach to it Mid Levels... there are few support areas defined with Fibonacci retracement where DXY can show some Reaction on the way to the specified Targets. there are total of 2 Targets defined by Fibonacci projection of the same Bearish wave which price is currently at its golden zone. the 1 TP is very realistic to happen by end of 2024 and the second is depending on the words Peace situation.
INDEX:DXYShort
by BitonGroup
Gold weekly analysis: The USD in under pressureThe dollar has posted its worst weekly performance in five months as it closes out the week. China's gross domestic product (GDP) is higher than expected is at the top of all of the other happenings this week. We will be keeping an eye on various data points throughout the week. It was the largest weekly loss in the general index of the US dollar since August of last year when it closed the trading session on Friday, the 14th of January, at levels of 95.14, after testing its lowest level in two months at 94.60 midweek, as the US dollar ignored all the news that supports the speed with which the US Federal Reserve is tightening policy. Because of his monetary policy, which includes raising US interest rates more quickly during the current year and raising expectations that what will raise interest rates four times during the current year rather than three times as previously expected, interest rates are expected to be submitted four times during the current year. At the beginning of the week, statements by US Federal Reserve Chairman Jerome Powell reinforced these expectations, as Powell stated in his testimony before Congress that the US Federal Reserve must raise interest rates quickly to counteract the effects of accelerating inflation. According to the most recent figures, the consumer price index in the United States of America increased at an annual rate of 7 percent in December, compared to 6.8 percent in the previous reading, in line with expectations for the fastest rate of inflation growth in 40 years. In November, the consumer price index increased at an annual rate of 6.8 percent, compared to 6.8 percent in the previous reading. The dollar did not benefit in any way from all of this, and despite the positive news that dominated most of last week's sessions for the US dollar, the dollar continued to decline sharply. However, I believe this can be explained by the beginning of the year and the construction of new centers, especially given the high expectations of pricing an opportunity greater than 90 percent. Moreover, according to the FedWatch CME Group tool, what will raise the interest rate in March, and it will be presented a total of four times during the current calendar year, starting in March. One of the most recent data released last week was the December retail sales data from the United States, which came in below expectations and disappointed as sales fell by 1.9 percent in December, raising concerns about the economy and rising inflationary pressures on consumers spending. Aas fundamentally the USD is under pressure, so the gold still has chances to go upside in the coming days. Check out the H4 chart to better understand. What is it that the markets are looking forward to this week? Several important economic reports are expected to be released during the sessions of the current week, and the markets are anticipating them. We began the day with data from China's growth and retail sales, which were released during the Asian session, as well as minutes from the Central Bank of Japan's meeting, inflation data from Canada and the United Kingdom, labor market data from Australia and the United Kingdom, and manufacturing data from the United States of America. Data released by the Chinese National Bureau of Statistics in the Asian session today, Monday, showed that the country's gross domestic product (GDP) increased by 4 percent in the fourth and last quarter of 2021, exceeding expectations of growth of approximately 3.7 percent. On the other hand, retail sales fell short of expectations, with annual sales growth slowing to 1.7 percent, down from 3.9 percent in November and expectations of 3.8 percent in December. On the other hand, industrial production increased by approximately 4.3 percent in December, compared to a growth of 3.8 percent in November, exceeding expectations of a gain of 3.7 percent, while the rate of investment in fixed assets increased by approximately 4.9 percent. The Bank of Japan is featured prominently on the front page. The Bank of Japan is expected to announce its monetary policy tomorrow, Tuesday, during the Asian session, with expectations indicating that the Bank of Japan will maintain its monetary policy and interest rates at -0.10 percent. The sharp rise in the value of the Japanese yen over the past week may explain why the Bank of Japan has hinted that it may impose strict measures shortly, particularly in light of the rise in inflation in Japan, which is in line with the global trend. On the other hand, Japanese bond yields saw significant increases last week, with the 10-year bond yield reaching its highest level in more than a year on concerns that the Bank of Japan will tighten monetary policy shortly. We will keep an eye on various data points throughout the week. Today, Monday will be a trading holiday in the United States observant of Martin Luther King Day. At the same time, manufacturing sales and the Bank of Canada survey of business outlook will be released from Canada in the late afternoon and evening. During the Asian trading session on Tuesday, the Bank of Japan will announce its monetary policy, while during the European trading session, we will be looking at data from the British labor market, the ZEW index from Germany, and the Eurozone, and during the American trading session, we will be looking at the Empire Estate manufacturing index from the United States of America. Thursday's economic calendar includes inflation data from the United Kingdom in the European period and Canada in the American session and statements from Bank of England governor Mark Carney at the end of the American session. On Wednesday, inflation data will be released in European and American sessions. What will monitor Thursday's labor market data from Australia (unemployment rate and change in employment) in the Asian session? At the same time, the European region will release the final inflation reading in the European period - in the American session, the Philadelphia manufacturing index, weekly unemployment benefits, and home sales will be removed, among other things. The final session of the week is on Friday. The Bank of Japan meeting minutes will be released during the Asian session, and we will be keeping an eye on retail sales in the United Kingdom and Canada during the European and American sessions, respectively.
TVC:GOLDLong
by Gold_Trading_Expert
2
The US dollar index is more likely to continue declining US dollar Index is heading for deeper losses ahead of US retail sales release . The losses in the greenback has been shown in all its main peers on Thursday. Looking at the technical side, the US dollar Index broke from it's wedge formation and took out the ascending trend line support. With 100 Moving Average ahead of it, we could expect further decline if the moving average is successfully penetrated and thus the bears would eye the 93.380 significant level. Taking a look at USDJPY, we see that it has also penetrated through the support of the rising trendline. We could expect more bearish momentum in this pair and as bears eye the 100 Moving Average. The RSI shows that the pair is bearish and further weaknesses is more likely. USDJPY Snapshot👇 If you enjoy this idea please show your support with likes.
TVC:DXYShort
by Forexintelligence_NA