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Dollar Index Price Analysis for the Third Week of August 2024In the analysis of the dollar index price chart, considering the speeches of Federal Reserve members, the following conclusions can be drawn: Given the price support at the 102.164 level and the price's interaction with this support, a price correction is expected. This correction, considering the significant liquidity present around the 101.422 level, is likely to be short-term. After the correction, two scenarios are possible: First, the price may correct up to the 102.626 level, after which an upward movement in price is likely.
TVC:DXY
by kiyandokhtkarimi
Dxy Sunday night 8/18 /24 this video is one more example of how to look at the bars using the correct time frames and deciding if there's a trade opportunity or not. normally I would look to be a buyer because the market came to a reversal pattern for an abcd pattern... but there are no buyers... in today's bar is a little bit lower than yesterday's bar on Thursday. it is possible that the market can go higher because the general area is a support area... but they're just isn't any evidence of buyers yet. sometimes markets are ambiguous and if you don't like them because you are ambivalent then don't take the trade... it's not a great trade but if you keep the stop small and you have a reasonable Target you could take this trade if you think it out.
TVC:DXY
by ScottBogatin
Oceania trading week about to commence NZ. USD, Gold, Bitcoin * The USD could see some weakness this week, probably not coming until mid-week price possibly propelled by double/bottom structures on mid-timeframes, however the Daily timeframe is indicative of some weakness with price below the moving averages. It's possible later in the trading week the USD could retreat to the 100.60 - 100.85 zone where there is support. Let's see how that play out. The whole idea is a bit counter-indicative of a short I am expecting on EUR/USD which is very overbought at the moment. * In other developments, Bitcoin BTCUSD showed some strength during Sunday's session but is since off its' highs in the weekend session. However, BTCUSD is getting support on the 200 EMA on the Daily. I would not be surprised to see some bullishness in Cryptocurrency this week, with the shine perhaps coming off Gold which is overextended and overbought across all timeframes. The Silver price has further to run but will generally follow Gold's lead. * In precious metals, as I point out above I see a short in XAUUSD very soon probably today, there is more buying demand on the higher timeframe for Platinum XPTUSD, XAGJPY, XAGUSD, XAUJPY whereas XAUGBP, XAUAUD & XAUUSD look over-bought. As I point out above, it's always tricky because I find they all mostly track the gold-price. Have a good trading week, Oceania trading in NZ commences in 30 minutes (6pm New York time) and the Australian ASX kicks off in just over 2 hours time. Chris
EIGHTCAP:USDX
by Easy_Explosive_Trading
DXY | Market outlookJuly housing data was generally weak, with building permits down 4.0% to 1.396M and housing starts down 6.8% to 1.238M. The sector is under pressure as the Federal Reserve’s interest rates peak and may begin to decline soon. Yesterday, St. Louis Federal Reserve Bank Governor Alberto Musalem noted that macroeconomic data has strengthened the regulator’s confidence in inflation returning to the 2.0% target, so the adjustment of monetary policy looks timely, adding that the rise in unemployment to 4.3% was due to an increase in labor supply, not a loss of jobs.
TVC:DXYShort
by DCFX-TA
Daily Technical Analysis of Gold,Currencies,and Indices19/8/2024Daily Technical Analysis of Gold, Currencies, and Indices - August 19, 2024 Introduction Welcome, I am Mohammed Qais Abdulghani, a financial markets expert, where I provide a detailed overview of the major currency pairs, commodities, and financial indices for Monday, August 19, 2024. Together, we will review market movements and trends based on the latest global economic data, with a focus on key events expected this week that may significantly impact price movements, such as the U.S. crude oil inventory report, the Federal Open Market Committee (FOMC) meeting minutes, and other economic performance indicators. Analysis of the U.S. Dollar Index (DXY) The U.S. Dollar Index continues its downward trend, with prices remaining below the 103 level and the 55-day moving average. This movement indicates a potential decline in the dollar towards the 100.5 level, especially after being negatively impacted by the U.S. housing starts decline of 6.8% and a 4% drop in building permits. Analysis of the EURUSD Pair The EURUSD pair continues to gain significant momentum, breaking above the 1.100 level. This breakout may pave the way for further upward movement toward the 1.1100 level, benefiting from the weakening U.S. dollar. Analysis of the GBPUSD Pair The GBPUSD pair has also gained further momentum, surpassing the 1.29000 level, which may lead to continued upward movement toward the 1.31500 level. Analysis of the USDJPY Pair The USDJPY pair continues to trade under selling pressure. The prices remaining below the 149 yen per dollar level supports the bearish trend targeting the 145 yen level. This bearish scenario may persist unless the pair breaks through the 145 yen level. Analysis of the USDCHF Pair The USDCHF pair continues to decline, trading below the 0.87 level. This pressure could push prices toward the 0.85 and then 0.83700 levels. Analysis of the AUDUSD Pair The AUDUSD pair is trading under bearish pressure, but if it successfully breaks above the 0.667 level, we might see gains targeting the 0.69000 level. Analysis of the NZDUSD Pair The NZDUSD pair remains under pressure, but if it can break above the 0.6500 level, it may start an upward trend targeting the 0.6600 level. Analysis of the USDCAD Pair The USDCAD pair continues to decline, holding below the 1.37500 resistance level, which could lead to further losses toward the 1.36 and 1.30 levels. Analysis of the GBPJPY Pair The GBPJPY pair is attempting to regain its previous gains, but the resumption of upward momentum requires breaking above the 196 yen level, which would reinstate bullish momentum. Analysis of the EURJPY Pair The EURJPY pair remains under selling pressure and will not be able to create new buying opportunities unless it surpasses the 166 yen level. Analysis of the EURGBP Pair The EURGBP pair is in a downward trend, trading below the 0.85500 level and the 55-day moving average. This scenario may push the pair towards the 0.84000-0.83000 level. Analysis of the USDTRY Pair The USDTRY pair continues to maintain positive performance, stabilizing above the 33.5 Turkish lira level. There is potential for further upward movement toward the 34.5 and 35 Turkish lira levels. Analysis of Bitcoin Against the U.S. Dollar Bitcoin is trading near the 60,000 USD level, a critical psychological point. Bitcoin will only be able to create new buying opportunities if it successfully breaks above the 60,000 USD level. If this breakthrough occurs, we could see targets at 68,000 USD and 75,000 USD. Analysis of Ethereum Against the U.S. Dollar Ethereum remains under pressure and will not be able to regain upward momentum unless it fully breaks above the 2800 USD level. Analysis of Ripple Against the U.S. Dollar Ripple maintains a positive stance with prices stabilizing above 55 cents. This stability supports further upward movement toward 66 cents and 75 cents, unless prices fall back below 55 cents. Analysis of Gold Gold recorded a new high in the previous session, driven by significant U.S. economic data that led to a weaker U.S. dollar. Gold continues to trade within a primary upward trend, supported by the 55-day moving average. Stability above the 2460 USD per ounce level could lead to a breakout above the 2520 USD level, targeting new highs at 2600 USD. This positive scenario will be invalidated if prices break below the 2460 USD level. Analysis of Oil Oil prices have declined below the 77 USD per barrel level due to data showing a clear contraction in the Chinese economy and a slowdown in the energy sector. This decline could push prices further down towards the 73 and 70 USD per barrel levels. Oil may not regain its gains unless prices return above the 77 USD per barrel level. Analysis of Silver Silver prices have broken through the 29 USD level, which may lead to further gains targeting the 30.5 and 32 USD levels in the medium term. Analysis of Natural Gas Natural gas prices are declining, and if they reach the 2.20 USD level, this could lead to further downward movement targeting 1.60 USD. Analysis of the Dow Jones Index The Dow Jones Index has gained as inflation rates slow. Stability above the 4000 point level remains the main support for a positive trend, but this trend will not resume without meeting certain conditions and criteria. Analysis of the S&P 500 Index The S&P 500 Index has managed to maintain its gains, remaining above the 4500 point level. If this trend continues, the index may target the 4800 point level. Analysis of the Nasdaq 100 Index The Nasdaq 100 Index has maintained its level at 19250 points. If it continues to hold this level, the index is expected to target the 21200 point level. Analysis of the Russell 2000 Index The Russell 2000 Index seems to have received positive support. If this trend continues, we may see gains targeting the 2225 point level. Analysis of the FTSE Index The FTSE Index is trading within a positive scenario, with prices stabilizing above the 8150 point level. This decline is classified as a correction, and the index will not resume its positive trend unless it surpasses the 8400 point level. Analysis of the DAX Index If the DAX Index can maintain its level above 18200 points, it may continue its positive trend, targeting the 18650 point level in the short term and possibly reaching 19400 points in the medium term. Analysis of the CAC Index The CAC Index continues to gain, but it will not return to its positive upward path unless it surpasses the 7600 point level. Analysis of the Nikkei Index If the Nikkei Index succeeds in stabilizing above the 37,000 point level, it may continue its upward trend, targeting the 45,000 level in the medium term. This positive scenario will be invalidated if prices break below the 37,000 point level, leading to deep corrective sell-offs.
TVC:DXY
by MohammedQais
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
IDEA FOR NEXT WEEK.With inflation data now in the rear-view, attention shifts to other critical areas of the US economy as we move towards the end of the week. Key reports, including July retail sales figures, the latest jobless claims, and manufacturing indices from New York and Philadelphia, are due for release today. These reports are expected to offer valuable insights into the labour market, consumer health, and the manufacturing sector. Should these data points also reveal weakness, it could further cement expectations for rate cuts, potentially leading to a drop in bond yields and negatively impacting the dollar outlook. This, in turn, could boost the appeal of major forex pairs, such as the AUD/USD, and increase the attractiveness of precious metals too.
TVC:DXY
by EZIO-FX
U.S political events have a significant impact on the USDTrump Election (2016): subsequent DXY downtrend during the first year of TRUMP presidency. The price seems to have retraced from a peak and continued declining for about a year. Biden Election (2020): After the 2020 election of Joe Biden, there was a notable bottoming pattern, followed by a strong upward movement in the DXY, implying a recovery or strengthening of the USD. the DXY moved within a range during Trump's presidency, between 88.275 and 104.023 . Current Analysis (2024): The DXY is approaching a sell zone, potentially aiming for a reintegration into the Trump range. U.S. political events, such as presidential elections, have a significant impact on the USD's strength. The transitions in administrations are marked by notable shifts in the DXY.
CAPITALCOM:DXYShort
by dragonflypips
2
DXY is moving lower**Monthly Chart** DXY monthly candle closed as bullish. This month's candle (still active) reached the supply zone last week around the 106 level and bounced lower from it. Note: I don’t trade DXY but I use it as an indication when analyzing other currency pairs linked to USD. **Weekly Chart** Last week's candle closed as a bearish engulfing suggesting a reverse trend lower at least to test the demand zone around the 104 level and then moving lower to the 103 level. **Daily Chart** This week, DXY is expected to have a corrective wave structure and consolidate before continuing the downward movement. There will be a release of monthly and yearly CPI on Thursday which can provide some strength to USD.
TVC:DXYShort
by PropSignals
1
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
DXY Is Bullish! Long! Here is our detailed technical review for DXY. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 102.879. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 103.134 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
TVC:DXYLong
by SignalProvider
1