DOLLAR INDEX double top + bearish divergencePotential for bearish trend with double top and bearish divergence on both RSI and stochastic
USDOLLAR trade ideas
US Dollar ReversalUS Labor data showing signs of improvement in terms of wage growth and a low unemployment rate following the seasonal factors that caused weak labor data in the first quarter. As this upbeat data factors into retail spending and investments the greenback will find support especially with an anticipated rate hike in June. Key support anticipated at 12,050 - 12,150 levels.
DOLLAR INDEX Daily bullish conditionsBullish probability for the next few days due to :
- bullish hidden divergence on the RSI
- bullish hidden divergence on the stochastic
Power of harmonic & Geometry tradingUSdollar follows harmonic patterns very closely.
There is potential bearish Gartley pattern in play with D point at the "E" point of a triangle.
Weekly overview:
I will be looking for trend reversal sooner or later.
Trade responsibly.
US Dollar ForecastTechnically forming a descending triangle since the start of 2017, the US Dollar is positioned for a technical breakout in the run up to the third quarter.
Fundamentally the US dollar is weakening given softer data likely to postpone rate increases until any other further notice. Administratively, the US is at risk and investors seem to be fleeing to safe havens. This is however not just an American phenomenon as prevalent risks are spreading to various locations around the world.
Should the US Dollar break to the downside, it is likely that we will be testing 11,800 - 11,900 support levels, with opportunity to sell on rallies.
USDOLLARDollar may correct for a while, 200 DMA break is on the way, medium term sell further dollar.
DOLLAR INDEX H1 bearish conditions ???Bearish conditions seems to be there:
- RSI clearly overbought
- Stochastic overbought
- RSI main hidden divergence for bearish continuation
DOLLAR INDEX daily short term bullish / long term bearishPrice seems to retest the median of the bullish pitchfork (main dashed trend line) and maybe design a new lower high. Depending on it, then return in a bearish trend.
There is a high probaility that price will go bearish to join the median of the bearish pitchfork (dotted trend). If it doens't reach the median by september, there willl have then a high probability for a bullish trend.
USDOLLAR Show Raising wedge pattern USDOLLAR Show raising wedge pattern. Is it will be going?? we'll see what market want!!
Elliot wave + abcd + abcd confluence inside ascending channelDollar index is forming elliot wave within a channel, with 2 abcd patterns, maroon and yellow, completing near the purple area. Usd pairs may have one more push before a reversal happens
Long EURUSD, Short USDJPYUSDOLLAR Index H&S pattern.
Break of uptrend line and backtesting broken trendline-neckline of H&S.
Since EURUSD and USDJPY has the most significant weighting in the USDOLLAR index, expecting huge moves on both pairs soon.
expecting a fake outthen next week will have good news in NFP, to move upwards to find the FOMC big bear candle.
