US Dollar Index 1D US Dollar Index
OUTLOOK
US Dollar It is still on track for a fifth consecutive week of gains as the resilient US economy signaled that interest rates should be kept higher for longer.
Currently, the price of DXY trade at the sensitive zone between 102.71 - 103.23 which is strong resistance area so the price will face two scenarios
First scenario and Most likely , consolidation under 102.71 it will help the price to visit the previous broken area and the line of 101.67 and be tested or the price can go a little further , for example to 100.45 and 99.53 but before the support line 101.67 break the market will retest again to the resistance area and the will drop
second scenario , consolidation above the resistance area which help the price to build the positive momentum and start to attack the specific area like 103.94 and 105.31 and the price will be continue to update the highs
the best chance for US index , when the price break the 102.71 and make a retest again the the resistance area and then sell it .
Additionally , in this week we have a lots of news and it will affect the market
support line : 103.23 , 103.94
resistance line : 1102.71 , 101.67
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Usindex
Important market price Dollar IndexThe Bullish Channel is continuously gaining strength from a strong pullback from the 99.581 zone after a support breakout. Now at the current level, the US Dollar Index at 102.894 is a very important level and a resistance level in H4.
As per the channel, the US Dollar will fall to 102.440 to give respect to its Demand zone.
With the channel formed and the major zone marked, the dollar is gaining strength day by day and will touch the 104.500 zone.
As per the gold and major pairs, they will shortly show some bullish movement with short wave corrections in the US dollar price, but the us dollar will be in a bullish trend.
Fundamental market movements will also have a positive impact on the dollar.
The Key zone in US dollar from short reversal;
1- 102.894
2- 103.443
3- 103.714
Mark the US Dollar Index chart, and you will get some good pips in Gold and major currency pairs for short-term bullish movement.
Note: Keep an eye on the US Dollar Economic Currency calendar for better understanding.
DXY (US INDEX) showing bearish momentumOn the daily time frame, the index shows a bearish momentum. The weakening of the dollar showed from June and became clear from the beginning of July until now.
My trading strategy is to sell on the rally. Now is a good time to continue selling on technical charts.
Us30 possible longWith the dollar index dropping in price
There might be a rise in the price of all us indexes
If us30 breaks 33204 then we might see a rise to 33800 or possibly 34000
NASDAQ BULLISH OUTLOOKThe trend of NASDAQ seems to continue, despite a resistance that is forming around 13250 mark. The instrument had tried few times to breach it, and currently is trading above it, but the breach is still not significant and might revert.
The technical indicators, though suggesting that NASDAQ still has steam to continues it upward movement, with RSI above the 50 neutral line and the fast MACD line crossing the slow MACD line and the histogram reaching positive territory.
If the breach of the resistance turns out to be genuine, the instrument might reach levels of 13740. In the opposite scenario, if the price reaches 12800, it might pivot and continue its decent.
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Stock Market March 23' ⚔️ Long Vs. Short Well , just as any other chart, we must keep things simple. Price has made a new Low after Ranging for 120 days/4 Months. There is Liquidity Built up in the market. If we maintain bearish momentum then we will see 31,198 very soon. Price is testing 32,082 at the moment. We may return to the low from OCT 22' due to clean traffic on the weekly timeframe and plenty of fundamental reasons to be concerned about. 32,082 must hold for bulls or we are falling off a cliff here.
Dow Jones short ideaOn the 4-hour timeframe, the US30 is showing signs of weakness. The stochastic indicator, which measures the momentum of the price, is currently in overbought territory, indicating that the market may be due for a reversal. A reading above 80 on the stochastic indicator is typically seen as a bearish signal.
Furthermore, the price has been trading below the 50-period moving average, which is a bearish signal. Additionally, there has been a series of lower highs and lower lows, which further indicates a potential shift in trend from bullish to bearish.
Based on these technical indicators, I believe that there is a good opportunity for shorting the US30 on the 4-hour timeframe using the stochastic indicator. However, it's essential to manage your risk properly and use appropriate position sizing. Always remember to do your own research and analysis before making any trades.
Short Term (de)correlation between S&P500 & Dollar IndexIf we try to follow the trend of the Dollar Index and SP500 in the short term, we can see how as the dollar rises there is consequently a decline in the U.S. Index, but this event is not absolute, in fact there are many variables at play. At the moment, however, many of these variables appear to be in favor of this inversely proportional swing, at least in the short term.
If this analysis is correct, the next FED rate announcement should show further misalignment between the two sides, as the market should not be surprised by a 50bp rate hike (see chart below), so "wait & see"...
3 WEEK AGO
TODAY
DOLLAR INDEX ANALYSIS
(Click & Play on Chart below)
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N.B.: Updates will follow below
Different lines, different storiesI have drawn two different support lines (I name it "higher" and "lower" support). One regards the monthly closed as the low point of the support line and another one regards the monthly low as the low point of the support line.
The higher support line is clearly broken and is retesting (breakout n retest) while the lower support line still holds and has provided short term upsides momentum.
Obviously two different support line give out two different sceneries. The higher support line suggests we are already in downtrend since the support is broken; The lower support line suggests we are still in uptrend. While two stories entailed by two different verisions of support lines are contradictory, it suggests a high probability of consolidation in the next few months such that the index will fluctuate between two lines. It implies the current index 12304 is the local high which provides us an opportunity to short targeting the lower support line.
S&P 500: Two Pattern to Trade in short termHi everyone!
The trend is bullish on S&P 500 (Futures), and if we try to follow US Index on intraday chart, we have two important levels: 4,189.75 and 4,098.50. Potential resistance breakout should develop a harmonic structure with Target around 4,238.50, conversely, 4,098.50 failure should trigger bearish consolidation around 4,048.00 area. Technically, both setups are high risk, so using a small size should be a good choice.
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If you think that my analysis is useful, please...
"Like, Share and Comment" ...thank you! 💖
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S&P 500: A consolidation is possible on 30' chartHi everyone!
From a technical point of view, S&P 500 could trigger a bearish consolidation (scalp) on 30 minute chart, let's look at what will happen in the next few hours and if the conditions are met, we will publish some updates on intrady chart.
Thanks for your support, like & comments!
Trade with care!
S&P500: empire’s collapseOn the second of every month we have the S&P500 index updated here, subscribe so you don't miss any entry points. Today I decided to update the most high cyclical and super-cyclical degrees on it - the global picture. We will look at the weekly chart in a month's time. I pay special attention to it and put it in bold - it's a long-term forecast for decades. Super-cyclical and cyclical waves can go on for hundreds or tens of years, respectively.
Going back to the index, we are now seeing a final rise to the ±5000 area within the ending diagonal, which will be accompanied in the media by a series of imaginary victories and a narrative about America's new greatness. In reality, the FED will simply buy out the crisis once again - there will be another QE, which will accelerate inflation and lead to the final inflation of all bubbles, including the stock market.
Then a fall of times or even dozens of times. I set the minimum target at 666, the optimal target at 66.6. This, I repeat, will happen for decades, along with the loss of at least half of the economy. The feeling is that a Great Depression multiplied by 2 will happen - wave (IV) should be sharp, as opposed to sideways (II). The probability of civil war in the wave (IV) tends to 100%, there is also a strong prospect of nuclear war, but let's not talk about it yet...
I believe that the next 2 years or so is the last chance to make money on investments. Then there will be the question of carrying capital through the crisis with minimal losses. For this purpose, in my opinion, scrap gold is the best way to go.
Russell 2000 Index Descending Triangle to cause a major breakdowDescending Triangle has formed on Weekly for the Russell 2000 Index.
The moving averages are all touching and seem to be at deciding point 200 = 21 =7 MA
We need to wait for the official breakdown which will take the price to a target of 828.
There are major warning signals for a Recession in 2024 with the inflationary pressures in the US, UK and Russia.
We haven't seen these levels in decades and with interest rates on the constant rise, this will attract investors to fixed income assets and deposits int he bank.
However, the Recession is one aspect. The markets are actually setting up for a meltdown. We just need to wait for the catalyst to send it.
Until then, we keep our eyes opened for possible opportunities.
SPX Weekly Volatility Analysis 12-16 Dec 2022 SPX Weekly Volatility Analysis 12-16 Dec 2022
We can see that currently the implied volatility for this week is around 3.16%, up from 3.08% from last week according to DVOL data
With this in mind, currently from ATR point of view we are located in the 71th percentile,
while according to VIX, we are on 31th percentile.
Based on this, we can expect that the current weekly candles ( from open to close ) are going to between:
Bullish: 2.72% movement
Bearish: 2.4% movement
At the same time, with this data, we can make a top/bot channel which is going to contain inside the movement of this asset,
meaning that there is a 15.2% that our close of the weekly candle of this asset is going to be either above/below the next channel:
TOP: 4072
BOT: 3805
Taking into consideration the previous weekly high/low, currently for this candle there is :
35% probability we are going to touch previous high 4050
67% probability we are going to touch previous low 3915
Lastly, from the technical analysis point of view, currently from
Weekly timeframe indicates 13% BULLISH trend from the moving averages index
Daily timeframe indicates 0% BULLISH trend from the moving averages index
4H timeframe indicates -40% BEARISH trend from the moving averages index
Dow Jones Industrial Average relative strength on the riseThe overall US equity market is still having a hard time stabilizing and catching its footing, however, if we examine the major US indices closer we do notice more and more relative strength coming out of the Dow Jones Industrial Average.
This past week it never took out its September lows, the MACD momentum oscillator continues to climb aggressively, and on Friday we remained in the top 1/3 of Thursday's bullish engulfing bar.
I started a position on Thursday and will keep a tight leash risk managing it going forward. More notes on the chart.
S&P500 leveraged making Sine wave pattern & returning to neckSSO is a safer 2x leveraged etf of SPX than SPXL. It recently formed slight divergence & a big engulfing candle, probably due to oversold RSI & also short coverings after Thursday’s dump & pump with investors betting massively on both directions triggered by a high CPI report.
Prices may return to the neckline (return to mean) next week.
Not trading advice
Dow Jones Index(DJI) Short trade 15MTF 200EMA Rejection Indicators:
200EMA, Bollinger Bands, 200EMA & RSI
Trade Convictions:
15MTF 200EMA Rejection
Dear traders, I have identified chart levels based on my analysis,
major support & resistance levels. Please note that I am not a SEBI
registered member. Information shared by me here for educational
purpose only. Please don’t trust me or anyone for trading/investment
purpose as it may lead to financial losses. Focus on learning,
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Please do review, analyse and share your comments as well.
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Disclaimer: I have analysed the data based on my limited knowledge.
I am not a SEBI registered member. Information shared here for educational purpose.
Please don’t trust me for trading as it may lead to financial losses.
Please consult your financial advisor before trading.