USDX trade ideas
U.S. Dollar IndexHello dear traders,
In the past week, we witnessed the release of numerous economic news that had significant impacts on the market. These reports, especially concerning the U.S. economy, greatly influenced the price trends of the U.S. dollar (DXY) and other currencies.
Analysis of Economic News from Last Week
Various reputable economic organizations published reports including employment data, unemployment rates, and changes in Gross Domestic Product (GDP). Notably, the non-farm payroll (NFP) report, which was expected to indicate an increase in new jobs, turned out to be below expectations. This created heightened concerns about the strength and stability of the U.S. economy, which in turn pressured the dollar.
Additionally, the announcement of high inflation rates and interest rates had compounded effects on market trends. While an increase in interest rates was anticipated, the negative news regarding economic growth raised concerns that future Federal Reserve meetings might be affected. Consequently, these combined factors led traders to adopt a cautious outlook on the market, resulting in price declines in the currency markets.
Technical Impacts on the Market
From a technical perspective, the U.S. dollar (DXY) chart has been showing bearish signals, and as previously mentioned, we expect a downward correction in the coming weeks. Price trends in the DXY align well with the recent economic news, as the breakdown of key support levels, such as 107.243 , and the formation of bearish patterns indicate weakness in this currency against others.
Given the technical analysis, we can point out that if the downward trend in DXY continues, the charts of the euro (EUR), British pound (GBP), Australian dollar (AUD), and New Zealand dollar (NZD) will offer suitable buying opportunities. Particularly if corrections in DXY persist, we can expect further appreciation in these currencies.
Conclusion
Considering the detailed analysis of economic news and the technical conditions, it is recommended to keep in mind that rapid and significant changes in the market may occur following new announcements. With careful attention and appropriate risk management, you can take advantage of the upcoming opportunities.
Thank you for your support and trust, and I hope the insights provided are beneficial for you.
Fereydoon Bahrami
"A retail trader in the Wall Street trading center (Forex)."
Wishing you success!
Is DXY Heading Above Previous High?Hey Traders, in today's trading session we are monitoring DXY for a buying opportunity around 106.800 zone, DXY is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 106.800 support and resistance area.
Trade safe, Joe.
Direction of the DXY for this week Direction of the DXY for this week
seems like an up trend will need to fill up FVG up there
at the opening of the market DXY will go down but for the long term will go up ....
BTC Tops vs DXY BTC vs DXY Chart.
I am looking at 3day timeframe BTC and comparing this to DXY tops 2017 $104.00
DXY was it was $1.00 back in 2015 peak, it was in a reaccumulating pattern.
I am noticing that BTC is following the same pattern, it will be forming a reaccumulation pattern, which means 100k is the tops and we will be expecting a push down back to around 40k range before bounce back to 100k and so forth as seen with DXY.
DXY POTENTIAL BUY OPPORTUNITY!DXY (US dollar index) May continue to wax stronger! From the technical standpoint, we can see how price formed a double button and successfully broke the neckline. This is an insight that buyers are likely to dominate the market and trade a new high! Coming week we anticipate retail sales report and Fed rate cuts. It’s good we stay informed and plan accordingly for the week!
Buyside liquidity needed For long term short ahead. 12/13-12/20i am looking for Sellside imbalance buy side inefficiency to get tapped into and a market structure shift for a Swing trade on dxy/usd pairs - if it doesn't give me a market structure shift and a reaction then i will wait for the buyside liquidity to be breached and to be patient. There will definitely be a scalp coming into Monday NY session.
I am going to be patient and wait i will be using stop losses and wait to see how this plays out for swinging. i think it would help you guys to see my scalps because im only scalping for 15pips no more than 30pips at most
if i do get a scalp i will show and post win or loss transparency is a huge thing right now
DXY Technical Analysis: Quasimodo Pattern Alert!The DXY (US Dollar Index) chart reveals a significant Quasimodo Pattern, a classic trend reversal signal indicating potential downside momentum. The key resistance level at 107.14 stands strong. If this level isn’t broken, we may see the price sliding down to the 104.13 support zone.
💡 What does this mean for the markets?
1️⃣ Forex: A weaker DXY could drive EUR/USD and GBP/USD higher, while USD/JPY might head lower.
2️⃣ Gold: A declining dollar often supports gold prices, pushing them upward.
3️⃣ Crypto: A DXY drop may provide a bullish push for risk assets like BTC and ETH.
4️⃣ Stock Market: A weaker dollar could benefit US exporters, potentially boosting equity markets.
🔍 Key focus now: Will the 107.14 resistance hold, or will we see a reversal from here? Stay tuned—big moves could be ahead! 📉📈
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DXY Best level for a long-term short.The U.S. Dollar index (DXY) has been trading within a 1.5 year Channel Up pattern (since July 14 2023) and just 2 weeks ago it formed a Golden Cross on the 1D time-frame. Having hit the pattern's top a week earlier, the current rebound seems to technically be part of the Lower Highs/ Lower Lows top formation, similar to October 03 - November 01 2023 peak.
That was 1 year again, a peak formation that was also formed after a 1D Golden Cross. This indicates that the long-term pattern (Channel Up) is highly symmetrical and as the 1W RSI is also declining after a rejection on the 70.00 overbought barrier, we consider the current level the best possible short entry.
The Bearish Leg that followed the 2023 High extended as low as the 0.786 Fibonacci level. As a result, we expect to see at least 102.000 (just above the 0.786 Fib) before any signs of a rebound.
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Trend LineHere we see in the upward trend how the trend is corrected through the previous rise, we conclude the corrective decline and vice versa -
Buy DXYOur last buying idea hited our target
Now reached our strong supply zone and retested successfully
Just open into sell now and hold till target
DXY going downDXY is ready for a leg down, after bear div and topping within projected time on Daily. On 4H it's building up to a nice #SBS shape, where we can expect a move down. 4H time projection says downwards into start of, or mid, February.
Dollar Index (DXY): Very Bullish Sentiment
Dollar Index completed a consolidation, violating
a resistance of a wide horizontal range on a daily.
It opens a potential for more growth.
The market may keep rising, at least to 107.45
❤️Please, support my work with like, thank you!❤️
check the trendIt is expected that a trend change will form within the current resistance range and we will witness the beginning of a downward trend. By passing the resistance range, the upward trend will likely continue
DXY- Will it continue up into year's end?December is usually a bearish month for the USD. However, this time, the situation could be different. The USD seems well-supported by fundamentals, and the technicals are looking bullish.
Looking at the 4-hour chart, we can see that after the local high at 108, the index started to fall and broke below the support from the April-May highs (old resistance). However, after hitting a low at the 105.50 zone, the USD Index reversed, breaking above the falling trendline of the corrective falling wedge and also reclaiming the 106.40 resistance.
At this moment, there is a high chance of upward continuation, and as long as the 106–106.40 zone remains intact, the outlook remains valid.
Is USD Setting Up for a Retrace?👀 👉 The DXY (USD) has shown strong momentum, rebounding sharply from a key support level and pushing into this 4H resistance zone. In my view, the price seems overextended, and I’m anticipating a retracement within the current price swing range back to equilibrium. 📢 *Disclaimer: This content is not financial advice.
DXY Analysis Asia and LondonDXY Analysis Asia and London
Dec Friday 13
Price is in a Premium
I would like to see Price could come down to the 50% and possibly .618 where there is a FVG.
We could see consolidation for Asia and expansion in London.
DXY on the rise.DXY has completed its Wyckoff Accumulation and is headed higher.
The DXY strengthening supports shorts on XX/USD pairs.
DXY_1D&1WAnalysis of the US dollar index Analysis in medium and long term time frame The index is in an upward trend and can continue to rise only by maintaining the trend line. In terms of price action, two numbers 102.200 and 105.700 are important and as long as the price is maintained above these two numbers, the trend is upward. Unless the downward trend line is broken, different conditions should be analyzed and checked again.
I think its time for the USD reversal. Bull flag trap is set.They always make it look like bull flat before reversing it.
Will it play again, maybe, anyway 6 Months ClS range was tagged and we are back inside.
you are welcome to comment with your thoughts and share your charts or questions below, I like any constructive discussion.
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DXY Formed Wave Pattern!Looking for Impulse Up.
DXY formed 1,2,3,4,5 & a now wait for wave b to get in with wave c. It's important to have your own rules on RR and adhere to them. This trading idea is intended to assist you and enhance your knowledge. If you have any questions, please ask me in the comments.
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