US Dollar index $DXYThe TVC:DXY is likely narrowing on the top and previous Supply Zone. The is no sign of weakness yet, but the up move can be limited. When DXY is in resistent area, mostly the cross rate will be much sexy..
USDOLLAR trade ideas
There were no trades to really consider this week due to FOMCThere were no trades to really consider this week due to FOMC
I am currently tracking a setup and will post it if it is likely to get triggered.
Possible scenario on $USD on dailyShowing the more diversified USD. Hitting 50% and previous S/R-more S/R above and above that is 61.8% and T/L (just an observation)
US DollarPrice is in layered supply of supply falls then it will turn to demand and price will move higher. The tendency with these fast moving bars up is for price to try and reclaim them - I would expect price to retrace down from here. If we see price is in supply then that is how it needs to be approached till it proves it can turn supply to demand
No trade this week.I do not have a trade this week, I am currently traveling and by me providing trades at this time will not be of the highest quality.
I will see if there are more opportunities next week to post.
USD Bullish trend... entry/ value at retracement Trade entry on completion of the fractal setup has provided some initial profit at the 1.618 fibo extension... position is now neutral and there is no value in buying up here as it presents no real value and stops may quickly be triggered. Wait for the retracement down to the now support area before trade entry and look to take profit on the full extension.
Any questions please DM. Cheers!
Going up? I do not think soOur green friend is very close to an important support and I find it hard to believe that he will move without visiting ... what is this baby going to do?
USD goes bullish?USD looks quite interesting in terms of bullish movement.
By the way we have a trend-line from 2011 which gives a good support zone.
At the same time, the last bearish tendency can form something new under this 7-year trend-line.
So, we get ready for it.
USDOLLAR's exchange rate reached the end of the adjustment levelUSDOLLAR's exchange rate reached the end of the adjustment level. This level is 11606. I expect a rise from this level. The rise height may be equal to the size of the previous wave (0A). If the idea is correct, the primary target price is 11865.
Possible Cypher Pattern on the Dollar indexpossible Cypher Pattern on the USDOLLAR Index. looks to begin his second push to the upside then retracing back to structure. Also continuation retracement level at the .382. Also Possible .2618.
USDOLLAR Short 450 Pips OpportunityUSDDOLLAR is in a short trend from the looks of the Weekly and Monthly chart. If the current support level is broken, then we can expect it to go down 400 pips+ below until next support.
Depending on the price where you sell, do attention to your SL.
This is a good move to keep an eye on.
DXY BEARSIH PENNANTcan see i possible bearish pennant forming on the daily. wait for a break below for entry
