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USDX approaching resistance, potential drop! USDX is approaching our first resistance at 96.14 (horizontal swing high resistance, 61.8% Fibonacci extension, 76.4% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our first support at 95.06 (horizontal swing low support, 50% Fibonacci retracement, 100% Fibonacci extension). Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
TVC:DXYShort
by FlowState
US Dollar Index could terminate at 95.50/96.00 levels.The US Dollar Index was seen accelerating into its final corrective leg, within the expanded flat and has made an interim high close to 95.40 levels on Friday. Looking into the wave structure, the index could find resistance around 95.50 or it could push through 96.00 levels before resuming lower again. The expanded flat structure could be a traders nightmare if not identified at the right time. We have now changed our trading strategy from neutral to short, until prices remain below 97.00 levels going further. Please note that the medium term wave structure remains unchanged and the US Dollar Index could drop towards 91.50 levels, going forward. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXY
by FXTM
2
US Dollar Index clears line of resistanceThe US Dollar Index has broken above its line of immediate resistance depicted on hourly chart here. The index is seen to be trading around 94.50 levels at this point in writing and could be targeting 94.80/95.00 resistance zone immediately. Structurally, the US Dollar Index could be well under its way to carve an expanded flat a-b-c (not highlighted here), eventually forming Wave B of a larger degree. If the above count holds well, we could see Wave B termination point towards 95.70 or 96.00 levels going forward. Please note that the medium term structure still remains bearish , but a short term rally could complete Wave B. We remain neutral for now. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXY
by FXTM
USDX approaching resistance, potential drop!USDX is approaching our first resistance at 94.37 (horizontal overlap resistance, 50% Fibonacci retracement, 100% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 94.00 (horizontal swing low support, 76.4% Fibonacci retracement). Stochastic (55,5,3) is approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYShort
by Tickmill
US Dollar Index could produce a surprise rally towards 95.70 ?The US Dollar Index has tested lows at 93.80 twice now without much success and is back higher, trading around 94.30/40 levels at this point in writing. Please note that a short term resistance line is passing just through the price and a break here could push the index higher towards initial resistance at 94.80 levels. Looking at the wave structure, medium term bearish outlook still remain intact, but the US Dollar Index could produce a rally towards 95.50/96.00 levels before reversing lower again. We have changed our stand from bearish to neutral for now and would be looking for intraday rallies through 95.50 levels at least, to initiate probable shorts. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXY
by FXTM
1
US Dollar Index at potential support around 93.70/94.00 ?The US Dollar Index broke lower from its consolidation, dropping to fresh lows at 93.83 levels. Please be aware of a potential bear trap around 93.70 and 94.00 levels since the entire region is fibonacci 0.382 support of the previous rally between 88.00 through 97.00 levels respectively. Looking at the wave structure, it could still remain probable for the index to carve out an expanded flat as wave B. If the count holds, we would not be surprised to witness a rally towards 95.50/96.00 levels going forward. At the moment, we are changing our stand from bearish to neutral. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXY
by FXTM
US Dollar Index Wave B as Expanded Flat ?The US Dollar Index is also consolidating within the rectangle region highlighted on chart here. Looking at the wave structure, Wave B could be still unfolding as an expanded flat a-b-c, before Wave C decline could resume. If this count holds true, we could witness a sharp rally towards 95.70 or probably 96.00 levels as Wave B termination point. Also note that a break above 95.00 levels would instill further confidence for the above count. As an alternate though, a break below 94.00/20 consistently, would be further bearish for the US Dollar Index. Overall bearish structure remains intact towards potential 91.50 and 92.00 levels going forward. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXYShort
by FXTM
US Dollar Index could test 95.70 levels again ?The US Dollar Index short term picture could still remain encouraging to bulls if prices stay above 94.40 levels. The index is probably carving an expanded flat corrective wave structure as potential Wave B. If this structure holds well, we could see prices rally back towards 95.70 levels at least or even push through 96.00 mark. The rally on Friday from 94.38 lows through 95.00 could retrace lower before resuming again. Overall the medium term wave structure (several weeks), could remain bearish towards 92.00 and 91.50 levels respectively. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXYShort
by FXTM
USDX approaching resistance, potential drop! USDX is approaching our first resistance at 94.91 (horizontal overlap resistance, 23.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 94.40 (horizontal swing low support, 78.6% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYShort
by Tickmill
3
US Dollar Index potential top could be at 96.00 ?The US Dollar Index hourly chart is suggesting that the index might still be unfolding Wave B (potential remains to either test 95.70 levels or print higher towards 96.00), before resuming its journey lower again. The corrective wave seems to be taking mire time to carve a potential top for Wave B termination and it might be unfolding into a zigzag . Overall, the structure is looking bearish and it is just a matter of time when wave C could resume lower; from 95.70 or 96.00 levels again. Please note that 94.80 remains the line in sand for bulls to stay in control for now. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXYShort
by FXTM
US Dollar Index remains vulnerable around 95.70/96.00 levelsThe US Dollar Index 0.02% hourly story is suggesting that the recent rally on Friday may push it higher towards 96.00 levels before finding strong resistance again. There is no certainty of the above though, but a possibility cannot be ruled out. Please note that fibonacci 0.618 resistance is also seen at 96.00 levels and we can expect a bearish reaction if prices manage to reach there. Overall, the US Dollar Index 0.02% remains a chart to be probably sold upon intraday rallies through 95.0/96.00 levels. Yet another round of sell off could be on its way towards 92.00 levels. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXYShort
by FXTM
Dow Still Need To Break 25600 Levels To Confirm A Potential TopWe are bringing the daily chart view after a long time for Dow Jones. Still, the indice is holding its potential A-B-C flat wave structure discussed earlier and prices have also managed to reverse from near about 26200 levels as seen here. A potential evening star candlestick bearish pattern seems to have appeared, indicating a potential reversal, though prices still need to break below 25600 levels (immediate support on the daily chart view), before we could confirm the above scenario. We shall be watching the wave structure for the next couple trading sessions and how the price action confirms. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
DJ:DJIShort
by FXTM
3
EURUSD bounces sharply past 1.1650 levels. Wave C begins?The EURUSD hourly chart suggests, that a meaningful low could be in place at 1.1530 levels and that a probable direction from here could be on the north side. Please note that the confluence of a previous wave 4 and a nearly 50% retracement at 1.1530 remains a valid point to assume that Wave B could be in place. If the above wave count and structure holds, we could witness higher highs from here. As an alternate count, please be prepared for a potential drop towards 1.1450/70 levels before Wave C picks up. We shall bring up this scenario again if price patterns support. Overall EURUSD remains a candidate to remain long. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Long
by FXTM
GBPJPY Testing Resistance, Prepare For ReversalGBPJPY is testing its resistance where we could potentially to see a reversal. GBPJPY is testing its resistance at 145.61 (61.8%, 100% Fibonacci extension, 38.2% & 76.4% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 142.08 (61.8% Fibonacci extension, horizontal overlap support) could occur. Stochastic (55, 5, 3) has reversed off its resistance at 97% where a corresponding drop could occur.
Short
by ICmarkets
US Dollar Index short term view of Wave A.The US Dollar Index bounced off well from the initial support at 94.90/95.00 levels discussed yesterday. It is seen to trading around 95.40 levels at this point of writing and could push intraday towards 95.60/65 levels, before reversing lower again. The hourly chart could be suggesting that wave A of a larger degree is still unfolding and there could be yet another low towards 94.20 levels, which was termination of previous wave (4) as highlighted here. Also note that wave A might be unfolding into an impulse suggesting a deeper correction possible in the US Dollar Index later. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXYShort
by FXTM
EURUSD 1H chart confirming Wave A progress..?As the story unfolds, the EURUSD currency pair retraced lower from initial resistance at 1.1620/25 as discussed earlier. The 1H chart view is still suggesting that EURUSD bulls may still have some steam left and prices could push higher through 1.1740/50 levels, which is the termination of previous wave (4). The current short term correction could terminate around 1.1520/30 levels, before the pair could resume its last leg rally. Please note that wave A of the potential A-B-C correction discussed earlier, might be unfolding as an impulse. If this structure holds well, we could witness a corrective wave B followed by yet another impulse wave C in the coming days/weeks. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Long
by FXTM
USDX wave (A) up finishing - (B) correction soonIm not bullish, bearish, or neutral. It all depends on what the timeline is. Short term, bearish; - 5 waves up complete, - strong rejection of the bulls shown in long wicks up, - I would call strong bearish divergence on daily RSI (several peaks show declining RSI peaks while price has been rising), - A strong recent rally in USD. indicates that a correction is expected. By my count this would be a wave B of (B) for <100% retracement of wave A - I arbitrarily chose a 0.618 retrace. Medium term (couple of weeks time) bullish; - wave C (of wave (B) assumed to reach 1:1 of wave A, although it may not reach that high, - This is based on a B wave being comprised of a 5 (or 3) waves A, followed by 3 wave B, and (always) 5 wave C. This would mean 3 waves down is next on the sequence. Medium - long (after the ABC sub-move has terminated finishing wave (B) and the wave (C) commences) strongly bearish; - Wave (C) always comprises 5 wave where wave (A) also had 5 waves, - Wave (A) was quite strong and I will be interested to see if wave (C) is as strong because it will mean a significant move down. This analysis is 100% technical and includes no fundamental analysis. Let's see if it can stand on its own. I am not a FOREX trader and don't expect to become one. My trading is limited to cryptocurrency, crude, silver, and gold currently, although, I am keen to expand to other commodities. This is published for my own education.
UShort
by flyinkiwi10
USDX approaching support, potential bounce! Price is approaching our first support at 94.19 (horizontal overlap support, 76.4%, 23.6% Fibonacci retracement) where price might potentially bounce and rise to our major resistance at 95.58 (horizontal swing high resistance, 100% Fibonacci extension). Stochastic (89,5,3) is also approaching our support and a bounce off this level might see a corresponding rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYLong
by Tickmill
2
USDX approaching resistance, potential drop!USDX is approaching our first resistance at 95.24 (horizontal swing high resistance, 78.6% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 94.68 (horizontal overlap support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYShort
by easyMarkets
USDX approaching resistance, potential drop! USDX is approaching our first resistance at 95.14 (horizontal overlap resistance, 76.4% Fibonacci retracement, 61.8% Fibonacci extension) where a strong reaction might occur below this level pushing price down to our major support at 94.10 (horizontal swing low support, 61.8% Fibonacci extension, 76.4% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYShort
by Tickmill
2