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Analysis of the Dollar Index by the Mallicast team.The US Dollar Index (DXY) has recently managed to break its previous high, indicating a relative strengthening of the dollar against other major currencies. This upward move could be attributed to various factors, such as strong economic data, expectations of a rate hike by the Federal Reserve, or volatility in global markets. However, following this increase, the Dollar Index is expected to enter a range-bound phase in early next month, oscillating within a specific price range. This consolidation period may occur due to profit-taking by traders, a lack of new strong catalysts, or uncertainty regarding the future direction of monetary and economic policies. Therefore, traders and analysts should closely monitor upcoming economic and political developments to make informed decisions for their positions in the market.
TVC:DXYLong
by mallicast
Daily Technical Analysis of Gold,Currencies,and Indices30/8/2024Daily Technical Analysis for Gold, Currencies, and Indices - 30/8/2024 Introduction Welcome, I am Mohammed Qais Abdulghani, a financial markets expert. Today, I will provide you with an in-depth analysis of the key currency pairs, commodities, and financial indices. On this Friday, August 30, 2024. Key Economic Data for Today: Before we dive into the technical and economic analysis, let’s review the key economic data scheduled for release today, which may impact price movements: • 12:00 PM (Makkah Time): Eurozone Consumer Price Index (CPI). • 3:30 PM (Makkah Time): U.S. Core Personal Consumption Expenditures (PCE) Price Index (annual and monthly). • 6:00 PM (Makkah Time): U.S. Federal Government Budget Balance. U.S. Dollar Index (DXY) Analysis: Despite positive U.S. economic data, including a stronger-than-expected GDP, the U.S. Dollar Index (DXY) remains under pressure. The index is awaiting the release of the Core Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred measure of inflation. The DXY remains below the 102 level, favoring a bearish outlook targeting levels of 100.3 and 99. This bearish scenario will only be invalidated if the index breaks above the 102 level. EUR/USD Analysis: The EUR/USD pair continues to trade under corrective downward pressure. As long as prices remain above the 1.1000 level, the pair retains a positive outlook, with all declines viewed as healthy corrections. This positive scenario will be invalidated only if the pair breaks below the 1.1000 level, potentially signaling a shift back to a bearish trend. GBP/USD Analysis: The GBP/USD pair maintains a positive bias as long as prices stay above the 1.3100 level, which supports a bullish outlook towards the 1.3250 and 1.3360 levels. This bullish scenario will be negated if the pair breaks below the 1.3100 level. USD/JPY Analysis: The USD/JPY pair is hovering around a critical level of 145 yen per U.S. dollar. Breaking above this level could lead to further gains towards 149 and 153 in the medium term. This bullish scenario will only be invalidated if prices fall back below the 145 level. USD/CHF Analysis: The USD/CHF pair remains under bearish pressure. Staying below the 0.8510 level supports a bearish outlook targeting 0.8370 and 0.8240. A bullish reversal will only occur if the pair breaks above the 0.8510 level. AUD/USD Analysis: The AUD/USD pair maintains a positive stance as long as prices stay above 0.6670, suggesting a bullish trend towards 0.6900 and 0.7100 levels. NZD/USD Analysis: The NZD/USD pair remains above the 0.6225 level, supporting a bullish outlook towards 0.6345 and 0.6450 levels. This bullish scenario will be invalidated if prices fall below 0.6225. USD/CAD Analysis: The USD/CAD pair remains under pressure. A break below 1.3450 could resume the bearish trend towards 1.3300. This bearish scenario will be negated if prices rise above the 1.3600 level. GBP/JPY Analysis: The GBP/JPY pair continues to trade under bearish pressure below the 196 yen level, with a bearish target of 184 yen. EUR/JPY Analysis: The EUR/JPY pair remains under bearish pressure below the 164 yen level, targeting the 158 yen level. EUR/GBP Analysis: The EUR/GBP pair is still trading under bearish pressure below the 0.8450 level, targeting levels of 0.8375 and 0.8350. Bitcoin/USD Analysis: If Bitcoin can regain the 60,000 USD level, it may revive bullish hopes towards 66,000 USD and 72,000 USD in the medium term. This bullish scenario will be invalidated if prices fall back below 60,000 USD. Ethereum/USD Analysis: Ethereum remains under pressure. Staying below 2800 USD suggests a bearish trend towards 2200 USD. This bearish outlook will only be invalidated if prices exceed 2800 USD. Ripple/USD Analysis: Ripple continues to trade under pressure. A break below 0.55 USD could lead to a decline towards 0.40 USD. This bearish scenario will be avoided if prices remain above 0.55 USD. Gold Analysis: Gold remains steady despite positive U.S. economic data. The market awaits the Core PCE Price Index from the U.S. The key trading level for today is 2500 USD. Breaking above this level could lead to gains towards 2550 USD and 2600 USD. This bullish scenario will be invalidated if prices fail to break above 2520 USD. Crude Oil Analysis: Crude oil attempts to regain its gains. Exceeding the 77 USD per barrel level could boost the price towards 83 USD. Failure to break above this level could push prices back down to 73 USD per barrel. Silver Analysis: Silver struggles to maintain its momentum. Holding above 29 USD could push silver back to levels of 30.5 USD and 32 USD. Natural Gas Analysis: Natural gas continues to trade under pressure. Staying below 2.20 USD suggests a downward trend towards 1.80 USD. Dow Jones Index Analysis: The Dow Jones Index holds above the 41,000-point level, supporting a bullish trend towards 42,500 points. S&P 500 Index Analysis: The S&P 500 Index attempts to end its corrections and regain upward momentum, which will only be achieved by breaking above the 5700-point level. Nasdaq 100 Index Analysis: The Nasdaq 100 Index holds above the 19,250-point level, supporting a bullish outlook towards 20,400 and 21,500 points. This bullish scenario will be invalidated if the index breaks below the 19,250-point level. Russell 2000 Index Analysis: The Russell 2000 Index attempts to recover its gains. Breaking above the 2225-point level could bolster a bullish trend towards 2320 and 2440 points. FTSE 100 Index Analysis: The FTSE 100 Index tries to regain positive momentum. Exceeding the 8400-point level could support gains towards 8600 and 8800 points. DAX Index Analysis: If the DAX Index successfully breaks above the 18,750-point level, we could see a positive move targeting 19,250 and 20,000 points. CAC 40 Index Analysis: The CAC 40 Index attempts to establish new bullish positions. Staying above the 7600-point level supports a bullish outlook towards 7900 and 8200 points. Nikkei 225 Index Analysis: The Nikkei 225 Index remains above the 37,000-point level, supporting a bullish trend towards 40,000 and 42,450 points. This bullish scenario will be negated if the index breaks below the 37,000-point level. Conclusion: That concludes our daily technical analysis. Thank you for tuning in, and we wish you a successful trading day. Stay safe and happy trading! This analysis was prepared by Muhammad Qais Abdulghani, a financial markets expert, based on current data and market trends. Please note that all strategies and analyses are subject to market changes, and it is advised to keep track of economic updates to make informed decisions.
TVC:DXY
by MohammedQais
USDX's Possible Lid On The Gold Price: See Analysis & Chart During the Thursday 29 August 2024, NY session of Gold & Precious metals trading, I noticed some good momentum in Long-positions, so priced looked to be headed up to test 2531.65 which is firm resistance (and below from 2528.50 & even beneath there), where on Wednesday during the Asian session a lacklustre performance in price-momentum of Gold relative to Silver saw it sell off strongly all the way back to 2493.50. Good-on-you if you got in at that price-point because the Gold-bulls drive price back up so quickly. I have digressed a bit, this week we have seen the start of a recovery in the US Dollar and the index that tracks it, the USDX tested the 101.50 level during yesterday before moving back down. I mentioned during the last NY session that I was cashing in my long-positions in Gold and looking at a possible short. Well full disclosure I am still Short-gold today Friday in the Asia session. Mind you I had to get Short in & out 2 times because price rallied against me, that is trading. I even forgot to book my profits during yesterday when price got to 2528.65. Why? I honestly thought the Gold price with its momentum would take 2531.65. There's my mistake. Never anticipate the market. If you have conviction on a firmly held idea with a variety of technical analysis confluence & fundamentals to go with it, then that is different, but saying to myself 'we are going to get over hard resistance zones (2528.50-2531.65) and 'I'm gonna ride this baby all the way to a new high today', that is wishful thinking. What I have learnt about trading Gold & Precious metals is to book your profits. Then you can let price retrace and go again in the same previous direction that booked you all that profit. Anyway, take a look at my chart, please and keep an eye on a break of the 101.50 area where the USDX could engage in a more firmly held rally as we head towards the 'interest rate decision' in the USA in a few weeks time. I think that the Gold-price is extra sensitive to the Dollar at this point in time and I think the rally in the USDX (see an article I wrote last weekend below - click on the chart) that we are going to see may keep a cap or a lid on the Gold price at least until it explodes upwards on an interest rate reduction. This is my analysis only, I don't get cues from anyone else. * Trading is risky. Please don't rely solely on my investment advice & trade setups. Regards, Chris easy_explosive_trades
EIGHTCAP:USDXShort
by Easy_Explosive_Trading
Bullish bounce?The US Dollar Index (DXY) is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance which acts as a pullback resistance. Pivot: 101.02 1st Support: 100.52 1st Resistance: 101.60 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
TVC:DXYLong
by ICmarkets
2
Can Weak Jobs Trigger 50bps Cut, Sink USD? Next week’s job reports could be the decisive factor in determining the scale of the Federal Reserve’s rate cut in September. Bank of America, among others, had initially forecast a 25-basis point cut next month. But recent developments have sparked discussions about the possibility of a larger 50 bps reduction, as economic conditions continue to evolve. Recent figures point to a gradual cooling in demand for labor. With the JOLTS job openings report and the Non-Farm Payrolls (NFP) data due next week, investors will be closely monitoring the labor market for signs of further weakness, with unexpected weakness boosting expectations of a 50-basis point (bps) cut. However, recently upwardly revised GDP figures for the second quarter—now at a 3.0% annualized rate—have done some work to temper expectations for a more aggressive cut. Thus, the market firmly remains in the dark about the size of the rate cut.
TVC:DXY
by BlackBull_Markets
DXY Analysis - UPDATE - GDP Growth Supports USD Amid Mixed DataToday’s U.S. economic data delivered a mix of signals, but overall, the strength in Q2 GDP growth is a standout, likely offering support to the USD (DXY). The economy grew at a robust 3.0% (QoQ), beating expectations and more than doubling the growth rate from the previous quarter. This strong performance suggests a resilient economy, which could underpin further dollar strength. Key Data Points: Core PCE Prices came in lower than expected at 2.8%, indicating easing inflation pressures, which may influence Fed policy. Initial Jobless Claims slightly improved, signaling continued labor market strength. Pending Home Sales fell sharply, down 5.5% MoM, raising concerns about the housing market. Despite the mixed data, the overall positive growth outlook could see DXY continue to find support, especially if it holds above recent levels. I'll be watching how the dollar index reacts to this data, with a focus on potential bullish continuation as the market digests these results.
TVC:DXYLong
by trader9224
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CAPITALCOM:DXYLong
by Thief_Trader
Levels discussed on Livestream 29 August29th August DXY: Could trade higher, needs to break above 101.20 (61.8%) to retest of 101.60 NZDUSD: Retracing down, look for reaction at 0.6220, Buy 0.6235 SL 25 TP 60 AUDUSD: Buy 0.6815 SL 20 TP 40 GBPUSD: Could trade up to 1.33, look for reaction at the strong resistance level. EURUSD: Sell 1.1085 SL 40 TP 85 USDJPY: Sell 144.80 SL 40 TP 140 USDCHF: Buy 0.8445 SL 20 TP 40 USDCAD: Sell 1.3435 SL 20 TP 70 Gold: Could trade slightly higher, look for retest of 2500 to buy the bounce
TVC:DXY
by JinDao_Tai
Dollar Index DXY chart hopefully create bearish butterfly pattern.so market need to seem BUY correction 101.320 and 101.500 resistance zone. if Then market break down 101.690 support level, then this case is invalid. AronnoFX will not accept any liability for loss or damage as a result of reliance on the information contained within this channel including data, quotes, charts and buy/sell signals. If you like this idea, do not forget to support with a like and follow. Traders, if you like this idea or have your own opinion, please feel free command me.
TVC:DXYLong
by AronnoFx
Daily Technical Analysis of Gold,Currencies,and Indices29/8/2024Daily Technical Analysis for Gold, Currencies, and Indices - 29/8/2024 Introduction Welcome, I am Mohammed Qais Abdulghani, a financial markets expert. Today, I will provide you with an in-depth analysis of the key currency pairs, commodities, and financial indices. On this Thursday, August 29, 2024, a series of significant economic data releases are expected to impact price movements. These releases include the Consumer Price Index (CPI) for the European Union and Germany, GDP figures, unemployment rate data for the United States, and the Federal Reserve’s weekly balance sheet report. The impact of these data on financial and investment markets will be analyzed in this report. U.S. Dollar Index (DXY) Analysis The U.S. Dollar Index (DXY) shows attempts at correction ahead of the critical economic data releases in the United States, such as GDP and unemployment rates. However, overall, the index continues to trade within a bearish scenario, inside a major downward channel, and below both primary and secondary descending trend lines. Prices remain below the 102 level and the 55-day moving average, reinforcing negative expectations. The index will not be able to resume its upward trend unless these levels are breached in conjunction with positive economic data that exceed expectations. EUR/USD Analysis The EUR/USD pair shows downward corrections after failing to break above the 1.1000 level and the 55-day moving average. These downward corrections are expected to continue until the pair successfully surpasses the 1.1000 level, which could lead to further declines. The positive trend will only resume if the 1.1000 level is breached. GBP/USD Analysis The GBP/USD pair exhibits downward corrections after failing to surpass the 1.32 level and the 50-day moving average. With the upcoming release of significant economic data in the United States, the pair is expected to continue these downward corrections as long as it remains above the 1.50 level. USD/JPY Analysis The USD/JPY pair continues to hover around the 145-yen level against the U.S. dollar. If this level is breached, it could create buying opportunities, with potential rises targeting the 149-yen level. The 145-yen level serves as a strong pivot area, supported by the 55-day moving average and the primary descending trend line, making it a resistance area that must be approached with caution. USD/CHF Analysis The USD/CHF pair remains under pressure, with prices staying below the 0.8500 and 0.9400 levels. These levels should be closely monitored to determine the future direction. AUD/USD Analysis The AUD/USD pair saw stable prices at the 0.6800 level. Even with potential corrections, the pair might retest the 0.6670 level. Traders should watch the movements closely to confirm the trend’s continuity. NZD/USD Analysis The NZD/USD pair is testing a critical level at 0.6250. If this level is broken, the pair could drop to the 1.0000 level. To maintain a positive trend, traders should ensure that prices stay above the 0.6250 level. USD/CAD Analysis The USD/CAD pair faces ongoing pressure with attempts to reduce losses and enter a corrective upward wave. This movement will not be considered positive unless the 1.34500 level is broken, potentially leading to a resumption of the downtrend towards the 1.33 level. GBP/JPY Analysis The GBP/JPY pair trades around the previous session’s closing level for the third consecutive session, with prices remaining below 196 yen per British pound. The bearish trend remains dominant, targeting the 184 yen level. EUR/JPY Analysis The EUR/JPY pair continues to favor a bearish scenario, targeting the 158 yen level as long as it remains below 164 yen. EUR/GBP Analysis The EUR/GBP pair continues to trade under downward pressure. Staying below the 0.84500 level indicates the possibility of further declines, targeting levels of 0.83150 and 0.82500. USD/TRY Analysis The USD/TRY pair continues to trade strongly above the 34 lira per U.S. dollar level, suggesting the potential for continued upward movement towards 34.50 and 35 lira. Bitcoin/USD Analysis Bitcoin against the U.S. dollar shows a decline below the 60,000 USD level and also below 56,000 USD, which is the 55-day moving average. This situation could lead to a corrective downward wave targeting the 52,000 USD level, and possibly 44,000 USD in the medium term. A return of buying momentum above the 56,000 USD level could support a recovery in Bitcoin prices. Ethereum/USD Analysis Ethereum against the U.S. dollar remains under pressure, with prices below 2,800 USD, indicating the potential for further declines towards 2,200 and 1,600 USD in the medium term. Ripple/USD Analysis The Ripple against the U.S. dollar is approaching a critical support area at 55 cents. If this support is broken in the upcoming trading sessions, the pair may experience further declines. Gold Analysis Gold is experiencing corrections due to the impact of the U.S. Dollar Index, resulting in a pullback in gold prices. However, gold remains above the 2460 USD level, considered a healthy correction. If the 2520 USD level is fully breached, we may see a rise towards 2600 and 2700 USD in the medium term. If the 2460 USD level is broken, this positive scenario will be invalidated. Oil Analysis Crude oil continues to trade under pressure with prices below the 77 USD per barrel level, indicating a bearish scenario. Following a negative U.S. oil inventory report, future crude oil prices are expected to be negatively affected. This bearish scenario will only be invalidated if buying momentum returns above the 77 USD per barrel level. Silver Analysis Silver has successfully reached the 29 USD level, but there is a likelihood that these gains may be erased if prices drop to the 27.5 USD level or lower. Natural Gas Analysis Natural gas attempts to erase previous losses after opening with an upward gap. Remaining below the 2.2 USD level suggests a potential drop that may target the 1.8 USD level in the short term. Dow Jones Index Analysis The Dow Jones Industrial Average is nearing a critical level at 41,000 points. Breaking this level may lead to a bearish wave targeting 40,000 points. The bullish rebound depends on holding above the 41,000-point level. S&P 500 Index Analysis The S&P 500 index continues to trade under the corrective bearish wave. Staying below the 5,700-point level strengthens the likelihood of entering a downward correction, targeting the 5,500-point level or lower. Nasdaq 100 Index Analysis The Nasdaq 100 index faces the risk of a decline if it breaks the support level at 19,250 points. The index must maintain a rebound above this level to avoid the bearish scenario. Russell 2000 Index Analysis The Russell 2000 index declines after failing to break through the resistance level at 2,225 points. Breaking this level may result in a decline to the 2,040-point level. FTSE Index Analysis The FTSE index continues to decline with resistance at the 8,400-point level. Breaking this level may lead to a drop towards the 8,200-point level. A return of buying momentum above the 8,400-point level may cancel the bearish scenario. DAX Index Analysis The DAX index is expected to continue rising in the medium term, targeting levels of 20,000 and 19,250 points. If the index falls below the 18,750-point level, previous gains may be erased, heading towards the 18,200-point level. CAC Index Analysis The CAC index may decline if it fails to break above the 7,600-point level, leading to a bearish wave targeting the 7,200-point level. Nikkei Index Analysis The Nikkei index targets the 44,250-point level in a positive scenario. Breaking below the 37,000-point level may cancel this positive scenario. With this, we have completed today’s technical analysis. Thank you for following along, and we wish you successful trading. This analysis was prepared by Muhammad Qais Abdulghani, a financial markets expert, based on current data and market trends. Please note that all strategies and analyses are subject to market changes, and it is advised to keep track of economic updates to make informed decisions.
TVC:DXY
by MohammedQais
DXY: Resistance at 101 Broken, New Support Level?DXY showed impressive strength today, rallying and breaking through a key resistance level which is now holding as support. This price action suggests that the bulls are in control. This setup offers a solid opportunity to capitalize on continued upward momentum via USDJPY . Today's economic data out of the U.S. provided a mixed picture, with key indicators pointing to both resilience and caution in the market: S&P/CS HPI Composite - 20 (MoM) (Jun): Actual: 0.6% Previous: 1.0% The month-over-month growth in housing prices slowed, indicating a cooling off in the housing market compared to the previous month. This could reflect tightening financial conditions or a natural correction after a period of rapid price increases. S&P/CS HPI Composite - 20 (YoY) (Jun): Actual: 6.5% Forecast: 6.2% Previous: 6.9% Year-over-year, housing prices still showed robust growth, though slightly down from the previous month. The housing market remains strong, but the pace of growth may be tapering as higher interest rates and affordability concerns weigh in. CB Consumer Confidence (Aug): Actual: 103.3 Forecast: 101.9 Previous: 100.9 Consumer confidence ticked higher, beating expectations and showing that consumers are feeling more optimistic about the economy. This could support consumer spending in the coming months, a positive sign for the broader economy. 2-Year Note Auction: Yield: 4.434% The auction results showed a notable increase in the yield compared to the previous auction. Higher yields reflect the market's expectation of continued monetary tightening, which could put upward pressure on short-term interest rates. API Weekly Crude Oil Stock: Actual: -3.400M Forecast: -3.000M Previous: 0.347M Crude oil inventories dropped more than expected, suggesting tighter supply conditions. This could lead to upward pressure on oil prices, especially if demand remains strong. This data provides a nuanced view of the U.S. economy, with housing showing signs of slowing, consumer confidence on the rise, and higher yields reflecting expectations for continued rate hikes. The decline in crude oil stocks could also play into inflation dynamics, particularly in energy prices.
TVC:DXYLong
by trader9224