Viper Weekly UpdateGive a market breakdown on the upcoming week and what we can possibly expect after a surprise NFP Friday report.
Breakdown DXY, US30, Gold, Oil, Forex pairs.
CPI coming this Thursday name of game to start the week is patience.
USXUSD trade ideas
Overextended DXY: Preparing for a Bearish Correction This WeekThe U.S. Dollar Index (DXY) is showing signs of being overextended after last week’s rally, with the weekly ATR (Average True Range) sitting at 1.5 but last week’s price action extending to 2.5 ATR. This suggests the market has moved significantly beyond its usual range, increasing the probability of a short-term correction. While the higher time frames remain bullish, driven by strong economic fundamentals, I’m expecting a pullback in DXY as the market cools off from its extended move. This correction could present opportunities for bearish trades before resuming the broader uptrend.
DXY Short: Completion of corrective A-B-CFrom my previous idea that precisely called the turning point and nature of how DXY will move up, I am now calling for DXY to fall. The reason is because:
1) Completion of 3-wave structure,
2) Big picture wise, we are still on a down trend,
3) RSI-Price divergence.
Stop above recent high.
DXY TRADE SETUPINDEX : DXY
✔ Classic BULLISH formation
DXY is holding continuous UP Trend so after market retracement I can take BUY entry . If your analysis matches it take a trade otherwise skip the trade.
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DXY weekly forecastDXY : theres 2 Fibs drawn one is a 1H Fib drawn from the nearest high which is @ 103.450 the and the lowest low (99.900) .. the 4H Fib is taken from the next highest (104.800) high to the lowest low (99.900)
on the 1H Fib this price is already approaching 78.6% retracement(103.450).. nearest support @ 61.8% of the 1H Fib and 38.2% of the 4H Fib (dynamic support at that point as well) while the 4H Fib is at 50% of its retracement(104.800) the different zones of the respective Fibs act as support and resistance zones as price increases in an ascending channel.
strong NFP and other economic data released this week was better than expected suggesting more strength for $
DXY in daily timeframe Good day traders,
Here is my analysis of the DXY index: as I expected in my previous analysis, the DXY has reversed to a bullish trend. I now expect it to reach 104. However, I recommend waiting for a full pullback before establishing a position.
Dollar Index Analysis: Upward Trend mallicastThe Mallicast team predicts that the Dollar Index, following the breakout of the resistance line around the 102 level, will continue its upward trend into the next week. At the beginning of the week, we expect to see a correction in response to the sharp move caused by recent news, after which the index is anticipated to resume its upward trajectory.
The image shows a chart of the U.S. Dollar Index (DXY)The image shows a chart of the U.S. Dollar Index (DXY) on TradingView.com, as of October 6, 2024, at 05:38 UTC. The chart depicts the price movement of the DXY over a period of time, likely from August to October.
The chart displays the DXY trading within a descending channel pattern. This pattern suggests potential bearish momentum in the U.S. dollar. The current price of the DXY is 102.487, which is an increase of +0.546 (+0.54%) from the previous period. The chart also indicates the presence of support and resistance levels, which traders may use to identify potential entry and exit points.
The image shows a chart of the U.S. Dollar Index (DXY)The image shows a chart of the U.S. Dollar Index (DXY) on TradingView.com, as of October 6, 2024, at 05:38 UTC. The chart depicts the price movement of the DXY over a period of time, likely from August to October.
The chart displays the DXY trading within a descending channel pattern. This pattern suggests potential bearish momentum in the U.S. dollar. The current price of the DXY is 102.487, which is an increase of +0.546 (+0.54%) from the previous period. The chart also indicates the presence of support and resistance levels, which traders may use to identify potential entry and exit points.
The direction likely set for usd to head higherHello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
USD broke up higher ,potentially already formed a double bounce...has been up the whole of last week...could likely see pullback before heading higher.for now up side bias for USD
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!
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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.
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U.S. Dollar outlookDXY potentially flipping previous support into resistance, giving markets and risk-on assets the green light amid rate cuts and rising global liquidity.
DXY STRUCTURE The weekend is here and it is time for studying and tracking your trades, we will have to see prices get into the 4H OB above before we will be looking for sells for DXY, we will be opened to what the market has to offer, we will allow it come to us before we make decisions, stay tuned for more updates. remember to trade what you see not what you think will happen. The market is always right.
The dollar index and the return of currency authorityAccording to the behavioral analysis of the dollar index chart and the upcoming elections in America, there is a possibility of choosing the party that supports the return of the dollar to power in the global arena and very strong and accurate economic policies.
In the long term, the dollar index will reach the range of 120, but for a shorter period of time, according to the chart, it will reach the goals.
DXYDXY on weekly broke resistance level to return to our buy floor technically gbpusd,audusd,eurusd will suffer and face change in price direction.
dxy uptick is approved based on the close of the weekly candle.
DXYdollar on weekly found support rejecting downslid below critical level,close of the weekly have seen a significant dxy liquidity which could technically lead to a return to buy zone where smart money resides.
we have dxy on long based on the strategy.
DXY bullishDXY will have a very interesting say in global equities in time to come. Either of the two scenarios will prevail.
Dollar index has breakout from resistanceDollar index has breakout from resistance and uptrend momentum started
Retest Complete. Dollar Should Continue Down Again.There's that retest to the underside of my pink line that I was previously expecting. As you all know from last weeks video, I was a bit surprised we didn't get it at the time I was making the video. Well, better late than never. This is a perfect retest. Though, the dollar could hover on the underside for a few more days, I expect that by mid-October you'll see the trend continuation down as we head for that very important, very old trend line coming all the way back from Orwell's 1984. Blow-off top in the U.S. stock market should continue until then. If so, crypto will follow.
DXY downtime? No confirmation yet so am jumping the gun on this. Perfect channel and bearish expanding megaphone. Fib targets nicely align as well. Let's see.
USD Falling Wedge Break - Working Strongest Week Since Sept. 22The US Dollar has started Q4 much differently than how most of Q3 had went.
I looked at the stalling in DXY multiple times last month as sellers seemingly had an open door to run with prints of fresh yearly lows. Yet - they were constantly thwarted. The USD even tried to set another fresh low to start this week, with Monday being the final day of Q3 trade but, again, bulls held price at a higher-low.
That then led to a strong five-day rally that's still running after this morning's release of Non-farm Payrolls. Rate cuts are getting priced-out of the market as we now have the first rise in yoy Core PCE in more than a year, and a really strong NFP report.
This has so far amounted to the strongest weekly outing in the Greenback since Sept of 2022, before the currency had topped. Notably - that turn was very much driven by the European Central Bank coming to the table with 75 bp hikes. That doesn't seem as though it's a realistic possibility at this point. - js
dollar gonna get torchedNice try pumping up dollar with war rumours but I think it gets heavily rejected from here and goes to lows, red box.
DXY: Market Is Looking Down! Sell!
Welcome to our daily DXY prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 102.317
Wish you good luck in trading to you all!
