DXY US DOLLAR DOWN - CRYPTO UPCorrelation with last post published
correlation btw US DOLLAR INDEX and CRYPTO
USDX trade ideas
Watchlist Breakdown 22/12/2024A quick breakdown of my TOP6 in preparation for next week.
This is not Mark's or the Coaches analysis, so take it with a little distance but I still hope you took value from it and it helped you in preparing next week.
As we move into the festive period a lot of banks will reduce their exposure resulting in much lower liquidity over all asset classes so I'm not too eager to get involved in trades.
Let price and the DXY settle over the next couple of days, stay in your routines, keep the momentum high and be prepared when 2025 starts.
DXY: USD is likely to continue dominate the market! Dear Traders,
DXY has been in news ever since US Election results came out in the market. We expect price to reverse after making small correction, once the correction has been made we can correlate dxy and trade dxy pairs. Good luck and trade safe!
USD$ is set to rise. On Monday I said the opposite: Falling
I stand corrected on what I published last Monday right before the Asia session, I think a rushed analysis and when you see what you want to see in a chart to support an idea, it can all go wrong. Or did the USD$ have such a bullish week to turn the charts around in such a short space of time.
I don't know but both the Daily and Weekly chart of the USDX have a very bullish W/Bottom. For those who don't know these patterns, they are basically a double/bottom or bottom1 & a bottom 2 and a W is formed as price is written up to a Neckline which is the yellow lines on the daily and weekly charts here.
I initially thought and stated that the USD$ may run up to 1.11 /1.12 and from a technical standpoint of these W/bottoms that is exactly where price may end up. But lots can happen in the meantime.
Briefly on Gold and Silver:
The Gold price has turned around bullishly after turning down in a Double/Top for many days. This turnaround also coincides with the bottom trend-line which is also the bottom line of a Triangle formation on the daily. Next trading day I would expect Gold to continue to climb for a couple of sessions before turning back down to the trend line and bottom of Daily-triangle which is all but complete and price would then either breakdown or breakout from triangle. I think that despite the USD$ continuing to climb, the Gold price will do the same thing and climb but probably won't go to an ATH just yet.
Silver has a bearish Head n Shoulders on the Daily. Price will retest the sell area next session on the daily which means the Silver price will get a false Long rally and selling will resume into the daily H n S pattern. The Silver price is right on the daily 200ema and back in January and February 2024 price got a little below the 200ema and then took off on a Long rally. Same thing expected, the HnS will play out and price will fall back a little more and then a buying spree and rally upwards will commence in Silver, possible just before the New Year.
Dollar index is in uptrend, shows 61% Fib retracementDollar index is in uptrend, shows 61% Fib retracement. It can continue its uptrend within channal since dollar is bulling after losat FOMC meeting & GDP data
DXY helping out the VIX Here this great Liquidity Sentiment Indicator, help us grab some festive season before the holiday break!
Long dxyCurrently believed that dxy is or has started a wave 5 impulse to new highs.
I believe that this will cause corrections across stock and crypto markets, potentially for next two years.
Bitcoin may have toped, I, a, looking for a pull back to low 70 this next 12months being a A wave on a large scale corrections, with a push up before failure and settling around 40k regions before a few impulse out to 180k.
I will monitor for sideways accumulation around 45-40k.
This is my current bearish plan 21.12.2024
USDX Failed AuctionUSDX experienced a failed auction at the resistance level just above current price point. There is a likelihood that the dollar will pull back due an increased number of open contracts at this level which are most likely short posititions. This pull back will generate a pump in crypto and risk markets that will last I believe until the dollar touches the next support level where a substantial order wall exists.
DXY - Potential Start of a Global RallyMonthly chart is not that exiting but daily structural change at range high/resistance is lovely. This is a good level for return of trend before the CPI this week and FOMC next week.
Hope it holds below the resistance and does not get back to 110.
I am an amateur trader. I sometimes enter into trades. Other times it is only an analysis. Trade with your own risk awareness.
DXY - Can Get To $108DXY
This is now a very strong bounce and a bullish morning star candle pattern is printing on the month chart still with half the month to go.
I think this may be first major bounce from the market topping slump back in 2022...
From the crash low I see it as an AR "Automatic Rally" (short covering) into a 3 wave correction...
And now the real bounce which may end up being a higher time frame 3 wave correction that Elliott Wavers might call a WXY.
This is starting to look like it will be the obligatory minimum 0.618 @ $108.7 retracement as per crash structure ratios and it can of course explore into the Golden Window up to 0.786 @ $111.3 overshoot ratio and even a little beyond.
This is great for currency trades long dollar and as you know I posted a short GBPUSD trade (see linked idea) a while ago.
That trade should have some legs if dollar gets to the Golden Window, which I think it will if the month closes here or above.
Pull backs along the way of course.
Not advice
Silver gold oil dxy12.20.24 this is a tough day for me. I had a hard time finding the words and I'm sure that added to some confusion... and it was very stressful for me. I decided to post the video since it took a good amount of time and the content was acceptable even if the presentation was awkward. I was trying to find the word for hyperinflation and I was trying to find the word for Reserve currency a sense the US dollar is a lot more bullish than I would expect. and while a lot of the markets in the index markets have gone lower the S&P is still quite strong which surprises me and so I am wondering if Trump's strategy to save the United States and the US currency might be a positive sign despite the horrible debt that that has occurred because of corrupt, component politicians on both sides. the whole world is corrupt says almost all the major countries have terrible debt even if it's less debt than the United States. personally I evaluate markets through patterns and... not the experts because I don't believe what they say not smart enough to know if it's because they're stupid where they're dishonest.... so I read the price bars on the chart.
two buy positions on the DXY (U.S. DOLLAR INDEX)Here’s a structured plan for managing two buy positions on the DXY:
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1. Entry Plan
First Buy Position:
Entry: 107.000
Likely Reason: Anticipation of strong support at this level, possibly near a significant technical or psychological level.
Second Buy Position:
Entry: 107.830
Likely Reason: Market reversal or breakout confirmation at this higher level.
TVC:DXY
2. Risk Management
Stop-Loss Levels:
For the 107.000 position: Below 106.800 (to avoid a deeper pullback).
For the 107.830 position: Below 107.500 (to account for short-term fluctuations).
Position Sizing: Use smaller lot sizes for the second position if risk increases near resistance zones.
---
3. Take-Profit Strategy
Conservative Targets:
For both positions, a short-term take-profit can be set at 108.200, which may align with minor resistance.
Aggressive Targets:
Extend profit-taking to 108.500 or 109.000, depending on momentum and fundamental triggers.
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4. Monitoring Key Levels
Support Zones:
Strong support at 107.000: Look for price consolidation here if it drops further.
Resistance Zones:
108.000–108.200: Watch for profit-taking or reversal at these levels.
109.000: A more aggressive upside target.
DXY Will Grow! Long!
Here is our detailed technical review for DXY.
Time Frame: 30m
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 108.242.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 108.539 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
Like and subscribe and comment my ideas if you enjoy them!
DXY Will Go Up From Support! Long!
Please, check our technical outlook for DXY.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 106.945.
Taking into consideration the structure & trend analysis, I believe that the market will reach 108.251 level soon.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
Like and subscribe and comment my ideas if you enjoy them!
DXY next upSame thing to DXY, it will either react to HTF POI then go up, or sweep liquidity below then go up. watch how price close after today. It will decide how price would be next week.
correctionA correction is expected to form and continue to the specified Fibonacci levels. Then, a continuation of the upward trend is likely
usdx at important level againPEPPERSTONE:USDX it is looking quite bullish as per price action but i feel the rising trendline will act as stiff resistance and in that case it will be good for precious metals and equity a scare and a panic has been created in my sense
WEEKLY FOREX FORECAST: USD Still Bullish? YES! Buy It!This forecast is for the week of Dec. 16th - 20th.
The USD INDEX is indicating strength, continuing from last week going into this week.
The economic calendar has red folders for every day this week.
THe xxxUSD pairs are looking bearish, while the USDxxx pairs are looking bullish.
The USD Index closed last week very bearish, trading through the previous week's low. A pullback makes sense for this week, at least for the beginning of it. With NFP coming on Friday, trading up until Wed may be the safest way to go.
Check the comments section below for updates regarding this analysis throughout the week.
Enjoy!
May profits be upon you.
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All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
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Transcript
DXY_UP ?If it breaks the redline, IT can go to 114
We have a triple bottom with S/R flip.
that's why Alts and BTC are suffering now.
NFA
DXY SWING BREAKOUT|LONG|
✅DXY is trading in a
Strong uptrend and we
Are seeing a bullish breakout
Of the key level of 108.000
So we are bullish biased
And we will be expecting
A further move up
LONG🚀
✅Like and subscribe to never miss a new idea!✅
DXY - Bullish Wave ContinuesWe analysed DXY / Dollar few days back and it was highlighting a potential break above. This hsa been confirmed and the price now targets above Fib levels.
Best approach is to go from level to level rather than aiming for a swing move as sentiments can switch anytime.
For entries, please wait for at least two candle reversals at the specified level and apply appropriate risk management.
If you found this analysis helpful, please consider boosting and following for more updates.
Disclaimer: This content is for educational purposes only and should not be considered financial advice.
DXY - Bullish Flag Breakout PatternAfter an explosive bullish move due to the US Interest Rates news yesterday the US Dollar Index is showing signs of relief.
This relief is also forming a Flag Pattern with the expectation being a breakout to the upside.
Not only is this flag pattern a bullish sign, but overall the market is providing us with more bullish signs as well making this a very interesting opportunity to keep an eye.
I'll walk yo through what I'm seeing and where I expect price to go if this trading idea works out.
Hope you enjoyed the video and I wish you a Happy Holiday's
Akil
Focus Shifts to Greenback and the 10-year TreasuryThe Federal Reserve triggered violent drops in stocks yesterday and two key charts could be attempting important breakouts.
We first consider the U.S. Dollar Index with weekly candles. There’s a falling trendline along the peaks of October 2023 and late April. DXY rallied through that resistance and turned it into support earlier this month. That may be consistent with an uptrend.
Second, DXY has advanced in 11 of the last 12 weeks. That could also suggest direction is accelerating higher.
Third, some traders may now eye the October 2022 high around 114 as the next key level.
Next is the 10-year Treasury Yield with 3-day candles (to clearly display almost 2 years of history):
A falling channel began in late 2023 at the same time stocks began their latest rally, but TNX didn’t reach the lower end of the channel. That was the first sign that yields might still be rising.
TNX also failed to reach its March 2023 low and refused to stay below its December 2023 low.
The index dipped last month but held its mid-July low above 4 percent.
Next comes the historically important long-term peak of 4.34 percent from the start of the Global Financial Crisis. After that, TNX closed above its November daily high.
Each of those points additionally suggest that that yields are moving higher. They also shift attention to the next big level near 5 percent from October 2022.
Given the importance of DXY and TNX for risk appetite, some traders may find potentially useful intermarket signals on their charts.
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