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DJ FXCM Index

EUR/USD: Key Supply Zones to Watch for Potential ReversalsThe EUR/USD pair has extended its upward momentum, reaching new highs for 2024, currently hovering around 1.1077 as I write this. This surge is largely attributed to the persistent weakness in the US Dollar (USD), which has been on the back foot in recent sessions. Expectations around the upcoming Consumer Price Index (CPI) release have shifted market sentiment. While there was initial speculation of a half-point rate cut by the Federal Reserve next month, the chances of such a significant cut have diminished. Instead, a more modest rate reduction now seems more likely, especially in light of better-than-anticipated outcomes from other critical US economic indicators. Looking forward, the release of the Federal Open Market Committee (FOMC) Minutes is anticipated to be the key event this week. However, market participants will also keep a close eye on Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium and the testimony of Bank of Japan (BoJ) Governor Kazuo Ueda before Parliament. These events could offer further insights into the future direction of monetary policies, influencing the USD and, by extension, the EUR/USD pair. From a technical perspective, the EUR/USD has approached a critical Supply area, where we observe a significant concentration of retail traders maintaining long positions, while commercial players have reduced their exposure. Given the current sideways market conditions, this Supply zone could be pivotal. A reversal may occur here, leading to a potential decline in the pair. However, if the price does not reverse at this level, the next key Supply area to watch would be around 1.1175. This level could become the next focal point for traders looking to identify potential turning points in the market. ✅ Please share your thoughts about EURUSD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Short
by FOREXN1
1
DXY Big Long Momentum Ahead ?!The Dollar Index (DX1!) has been in an uptrend since the spring-summer of 2008, when it reached its lowest point. Since October 2009 (after the first leg down of the uptrend), whenever the net positions of retailers in the CoT report turn negative (or approach zero) AND retailers reach an extreme low in the CoT index (either in the short-term OR long-term), a significant run-up typically follows. Please note that these are weekly charts. The only exception was in June 2020, when the price continued to decline until later that year in December, which ultimately led to a substantial 2-year uptrend. At the same time, the 5, 10, and 15-year seasonality indicators show that we are currently at the bottom, which is expected to last until the end of September, suggesting an uptrend. Additionally, there is a weekly demand zone ahead around 101.400 - 100.320. If enough participants join in, a significant run-up is expected. The fundamentals are in place; we just have to wait and see if the demand zone holds. BE AWARE, this is the Dollar Index, which means all other major currencies, especially EURUSD, will be affected if this scenario plays out.
ICEUS:DX1!Long
by XardasX
1
DXY Bullish this week from 101.200?The DXY is currently in an 8-hour imbalance, which could give us an initial bullish reaction. Although price has already broken structure to the downside and shown strong bearish pressure, I expect this bearish momentum to weaken. Once price reaches the 14-hour demand zone, I will be looking for a stronger bullish reaction back up. If price retraces from either of these zones and moves back to the daily supply, I will then expect the bearish order flow for the dollar to continue. Since this is a clear bearish price structure, any upward movement will likely be short-term and temporary until the daily supply zone is mitigated. This aligns with my analysis for GBP/USD (GU) and EUR/USD (EU), where I'm looking for short-term sells before entering buy positions. Similarly, for the dollar, I'm expecting a small upward move before it continues its decline. Have a great trading week, everyone!
TVC:DXYLong
by Hassan_fx
JPY, key to all other indexesJPY vs USD, key to the other index developments. As long as it holds its trendline, JPY will remain week vs the other global currencies, Japan exports will hold, carry trade arbitrages won't unwind, US bonds will not sell off (rising yields), volatility will remain contained. But if it breaks and doesn't hold the 139JPY/$, we could witness how algos start dumping US and Euro shares and bonds. Rising JPY should also affect the Nikkei 225, retaking the path to 30k
Short
by j_arrieta
2
EURUSD BuyEurusd is consolidating over its 1 Hourly Resistance level and the volume is telling me that it will break above the resistance and will move to its daily Resistance level which is a clear buy but if it goes either way it will rally down to its Previous support but seems like it would rally up and break above the 1 Hourly Resistance level rally upwards to its daily global or physiological resistance level i would put my buys after breakabove retest and proper price action (bullish engulfing)
Long
by Wakeel_Saab
USD could see 101 in time to comeHello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Overall the USD is still on the weak side. Right now still hovering around a last key S area .If give way, likely see more downside to $101. Do check out my recorded video (in trading ideas) for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
TVC:DXYShort
by Shadowing_The_Big_Boys
DXY is starting a rebound to at least 106.000The U.S. Dollar Index (DXY) has been trading within a 19-month Channel Up pattern and this week (as well as on August 05), it almost reached its bottom (Higher Lows trend-line). This is a Double Bottom formation so far, which is a bullish pattern, that was also formed on the 1D RSI. The last time the RSI completed this formation, we've had a bottom that gave way to a strong Bullish Leg. Most rallies/ declines within this pattern have been between a 4.00% to 5.00% range. As a result, we turn bullish on DXY now, targeting 106.00, which is just below a potential +4.00% rise and almost on the 0.5 Fibonacci level of the Channel Up. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:DXYLong
by TradingShot
3
USDCHF Strong long-term bullish wave expected.The USDCHF pair followed almost perfectly our projected course last time we made an analysis on it (June 20, see chart below), as after a 1.5 Fibonacci rebound, it resumed the downtrend and hit our 0.8700 Target: Having completed a 1D MACD Bullish Cross, on the same level as the January 04 2024 one, we view the recent rebound as the start of the new Bullish Leg towards the 1W MA200 (red trend-line). As you can see, we've been basically within a wide but sideways structure for more than one year and the symmetry between the October - December 2023 Leg is very high with May - August 2024. Even the 1D MACD patterns are very similar. As a result, we turn bullish on USDCHF again on a 0.9100 Target, just below the 1W MA200, which is the technical long-term Resistance. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
4
USDZAR Channel Down intact. More selling to come.The USDZAR pair has been trading within a Channel Down pattern since April and currently is more than half-way through its latest Bearish Leg. Technically it resembles the Bearish Leg of May, which completed a -7.00% decline in the pricing of its Lower Low. As a result, our short-term Target on this pair is 17.500 which is slightly less than -7.00%, near the Support 2 level. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
Looking for Sell BTC around 60600(8/16/2024)Bearish Shadow is still chasing BTC. After a good retracement from the 49-50k zone, BTC faced some selling pressure around the 62700$. The pressure finally pushed the price to 56.1k $ yesterday. right now price action is showing us HH and LH and, we can see Liquidity above the 59800$ and FVG above it. We believe the price will eventually reach the zones as mentioned earlier, then we are looking for a bearish setup around 60600$(this is important!) . Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Short
by fortunamarkets
USDMXN Channel Up leading to 21.6500The USDMXN pair eventually gave us on our last analysis (June 27, see chart below) our desired bullish break-out above the multi-year Falling Wedge and the 1W MA200 and its next stop will most likely be our 21.6500 Target: To view this trend from a more comprehensive perspective, we made today's analysis on the 1D time-frame. The prevailing pattern is a Channel Up, which as you can see is technically on its 3rd Bearish Leg. Once it hits the 1D MA50 (blue trend-line) at the bottom of the Channel Up along with ideally the 1D RSI hitting its Support Zone, we will have the next short-term bullish signal. The Bullish Legs have so far been fairly symmetrical at a +15% rise. As a result our 21.000 Target is within the range of the expected rise ahead. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1
USDRUB Sell opportunity at the top of the Channel Down.The USDUB pair is on the 2nd straight red candle following yesterday's strong rejection near the top (Lower Highs trend-line) of the 1-year Channel Down. At the same time, the 1D RSI almost broke above the overbought barrier (70.00), a level last visited on April 16 2024. As a result, we believe that this is the start of the new Bearish Leg of the pattern. Our target is 81.200, representing a -13.49% decline (similar to the previous ones). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
2
Buy Gold (Xau/Usd) Bullish FlagThe XAU/USD pair on the M30 timeframe presents a potential Buying opportunity due to a recent downward breakout from a well-defined Bullish Flag pattern. This suggests a shift in momentum towards the Upside in the coming Hours. Key Points: Buy Entry: Consider entering a Long position around the current price of 2474, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 2496 2nd Support – 2506 Stop-Loss: To manage risk, place a stop-loss order below 2450. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
OANDA:XAUUSDLong
by KABHI_TA_TRADING
7
Sell USD/CHF Triangle BreakoutThe USD/CHF pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the downside in the coming hours. Possible Short Trade: Entry: Consider Entering A Short Position Below the Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 0.8640 Target Levels: 1st Support – 0.8602 2nd Support – 0.8570 Stop-Loss: To manage risk, place a stop-loss order above 0.8686. This helps limit potential losses if the price falls back unexpectedly. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_TA_TRADING
2
A 100 basis point rate cut making the dollar weakMarkets expect a 100 basis point Fed rate cut during the remaining meetings this year. A 100 basis point rate cut by the Fed would likely weaken the U.S. dollar. Lower interest rates reduce the yield on dollar-denominated assets, making them less attractive to investors. This could lead to a decrease in demand for the dollar, causing the Dollar Currency Index (DXY) to decline. Additionally, a weaker dollar might boost U.S. exports by making them more competitive globally, but it could also increase inflationary pressures.
CAPITALCOM:DXYShort
by TopGBanks