USDOLLAR trade ideas
US Dollar Pop Build Up!It looks like the US Dollar is about to shoot up:
Technical reasons:
(1) fib support
(2) horizontal support
(3) Major weekly support is still intact
SHORT US DOLLAR INDEXThe US Dollar daily chart which has been producing lower highs and lower lows with the most recent lower high being a 61.8% retracement, aligning with our descending trendline giving confluence at the area of rejection which price printed a gravestone doji characteristic candlestick. Looking at the 20EMA it looks although further dollar weakness will lead our 20EMA to cross over to the downside with our 200MA. Over the next week we are looking for further Dollar weakness. I have also observed the 200 MA act as support to a now long term resistance.
The US Dollar chart is a very key tool within analysis and should be used to see whether the US Dollar is gaining strength or losing strength.
Take profit has been placed halfway of the next monthly levels below.
Stop loss placed above 0% fibonacci level.
Consolidation may occur however, no fundamentals to move price to the upside this week.
USDOLLAR - Long - Wave count revision. After what looked to be a completed 5 wave down on my previous analysis I counted wave c as wave 1 - Rookie mistake.
It looks like overthrow of an extended wave 5 of an ending diagonal Wave C of a zig zag either complete or almost complete, looking for a sharp move up to around the start of wave C initially to confirm this.
On the AUDUSD pair you can see the Wave 5 extension of Wave C hit resistance.
On the USDCHF you can see a 1-2 almost complete.
On the EURUSD it's hit resistance with a dark cloud cover with a confirming candle on the daily chart from the reflex rally after the initial thrust from the triangle last year.
Let's see what happens.
Dollar Index in 62 daysTomorrow is another Trading Day July 17, 2017. After seeing some videos in Youtube, I was inspired to practice charting in Trading view. This is not my idea but I found it interesting to see how the price goes and it shows how it behaved with the Trading Tools available.
USDOLLOR - An Intraday Short IdeaIn 4hr TF USDOLLOR in Bearish Divergence.
MACD, DMI and RSI are showing bearish divergence.
SL : 12180
TP1: 12112
TP2: 12098
USDOLLAR BULLS - Take Charge: if you believeWhat appears to be the end of a zig zag correction followed by a 5 wave advance (Wave 1) followed by a 3 wave correction (Wave 2) is enough evidence for a long position with low risk.
US Dollar Index $ Possible Change in Market Structure Bullishpossilble bullish momentum in the US Dollar Index.
Watching how price actions react @12118ish.
USDOLLAR - Important Doji on the 886 FIB - Daily - LongThe Doji has spoken :) - well its a daily candle, lets see how bullish the current finishes up.
Possible entries here are a pullback or wait for a break of TL and buy the break (while losing some of the leading gains)
Nicely structured pattern for confluence.
Nice W shape formation on the 4HR following RSI back in the trading zone.
USdollar index thoughts hi I think that is the moment for a correction of the impulsive move
thanks for watching
Maybe we can try a hedge against the EURUSD and the USDJPYFrom the comparison of the different currencies, the EUR and JPY have a wider spread, so we can try a mid term hedging strategy.
Short EURUSD, short USDJPY, until the gap narrowed.
