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USDOLLAR trade ideas

USDOLLARIt appears the usd has some room to run still until it reaches a higher time frame resistance area. I expect a volatile week because of significant event risk. inflation and J Powell is on the docket. In my opinion. To start the week, I expect the dollar to continue to fall towards near term support. The usd is vulnerable under 11850.00,in my opinion, and may retest the main support lower down on a break down of said price level. In the event inflation comes in hotter than expected we may see a run up to test the " key price area" i have outlined. Then it all depends on Powell"s statement for the determination for a possible break out of the range or drop back down under 11850. Never the less, the upside seems limited, as there is, what appears to be strong resistance higher up.
DJ:USDOLLARLong
by Entrenched
2
USDOLLAR Daily Likely To Run Into Near-Term ExhaustionPrice has deviated from trend significantly on the daily chart since last Wednesday's Fed statement release. Trend, in this case, referring to the peaks and troughs on the daily as defined by the green trendline. However, the massive momentum acceleration over the last week has seen the gradient steepen to orange and then to red. This is unlikely to be sustainable in the near term as it will require enormous market momentum to keep the red gradient steady. Market participants may succeed temporarily but it is likely that exhaustion sets as profits are banked. This will then set up the platform for the next potential leg higher. We refer to a similar market back in march as denoted by the black trendline.
FX:USDOLLAR
by FXCM
USDOLLAR Showing Strength Ahead of Fed ReleaseFXCM's USDOLLAR index is in the bullish area on the daily chart on the left. The hourly EMAs and stochastic are in bullish mode and potentially align short-term traders with the daily. A movement of stochastic to 80 level and maintenance of that level (blue arrow) increase the chance of a successful trade. Trend following indicators may be useful in this case as a potential exit tool. Stop under hourly support in conjunction with risk management techniques is important. Please note volatility in this instrument is likely to increase tomorrow with the Fed release (6:00 pm GMT) and during the press conference (6:30 pm GMT).
FX:USDOLLARLong
by FXCM
3
USDOLLAR aka DJGday Guys. It's Friday. Today we analyze USDOLLAR Index. The main reason we analyzing this pair, because we would like to know the current condition of USD Currency performance. We see on the USDOLLAR or DJ at the moment, it was created an Extreme Demand Zone (EDZ) on May 10 at 11655. This the starting point bullish trend slowly build-up which is we getting confirmation that EDZ was tested and rejected three times on May 18, 21 & 25 at 11659. From here we getting more confirmation of the bullish trend. Zoom in to Hourly Timeframe, We see a choppy Range EDZ at 11674 and ESZ at 11756 but clearly showing that bullish trend still in control. Currently, the price was inside of the LRZ, and the price movement creating a beautiful HiLow market structure. What we projecting here is, the price will continue bullish which is the first target will be 11723 at MRZ, the next 11742 at URZ, and the Third at 11761 ESZ. If this happens, most likely USD getting stronger and stronger. Based on recent NFP, fundamentally data release May data higher than April data. Here we able to see that the US economy is improving slowly. If the USD gets stronger what gonna happen with XAUUSD, GBPUSD, EURUSD, USDJPY, USDCHF, USDCAD, AUDUSD, NZDUSD? Let's see what happens next. Cheers * Educational and Learning purposes only. No Buy/Sell recommendation. This is not investment advice.
FX:USDOLLARLong
by EYFMarkets
XAUUSD dropped as Yields Adjusted to Inflation ExpectationsThe XAUUSD dropped markedly yesterday as yields adjusted on the initial jobless claims and ADP beats. This is an interesting and potentially telling reaction. The yield adjustment likely came as inflation expectations were altered by the market. We also refer to the USDOLLAR which appreciated as the US10Y adjusted. It is often said the XAUUSD is a hedge against inflation but yesterday’s move was contrary to this. Therefore, as and when nominal yields make further adjustments we consider it prudent to look at the XAUUSD response relative to the USDOLLAR reaction to help with the analysis of direction.
FX:USDOLLAR
by FXCM
3
USDOLLAR: NON-FARM PAYROLLS - DATA EXPECTED TO BE STUNNING ! 🔔The April U.S. jobs report partially justified the Fed's reluctance to adjust the parameters of the QE, as the economy created only 266,000 jobs and the unemployment rate rose to 6.1%. However, commodity markets continue to call out that price pressures have reached levels that pose a real danger to the economy. Frenzied inflation is hard to get under control. Last week's released CPI figure reflected a 0.8% jump in prices, while experts had predicted a 0.2% increase. And while Fed officials are confident that they can handle the pressure with monetary policy tools, there is no guarantee of that. Moreover, it is monetary and fiscal policy that fuels inflationary pressures. Twenty-two U.S. states are eliminating federal unemployment benefits. Today, U.S. citizens are paid $300 a week in additional unemployment benefits as part of the Biden bailout package. But these payments have resulted in many Americans receiving more in benefits than they would have earned at work. Quite naturally, the desire to look for work disappears. Such negative effects go a long way toward explaining the very contradictory statistics in the United States: On the one hand, business activity indices are off the charts, companies are willing to hire workers and produce more. On the other hand, unemployment rose in April compared to the previous month. Since the beginning of March, the number of people claiming unemployment benefits for the first time has fallen by more than a third. Over the same period, the total number of people receiving benefits has fallen only 12.7%. Non-Farm Payrolls Employment Last data: 266K Consensus Forecast: 650K The Non-Farm employment change measures the change in the number of people employed during the last month in the non-farm sector. Total Non-Farm Payrolls represent about 80% of the workers who produce all of the Gross Domestic Product of the United States. It is the most important piece of data contained in the employment report that offers the best overview of the economy. Monthly changes and adjustments in the data can be very volatile. Unemployment Rate Past data: 6.1% Consensus forecast: 5.9% The unemployment rate measures the percentage of the total labor force that is unemployed but actively looking for a job and willing to work in the United States. A high percentage indicates weakness in the labor market. A low percentage is positive for the U.S. labor market and should be taken as a positive factor for the USD.
DJ:USDOLLARLong
by FOREXN1
11
Bearish Bias for the USDOLLAR IndexLooking at the US Dollar Index, it seems relatively obvious which bias has been playing out for the past year. Ever since the beginning of coronavirus, the US dollar has been weakening by the week. And there seems to be no reason to think that's going to change anytime soon. On the larger timeframes, we could see clear bearish rejection off of a significant resistance level placed on the daily timeframe. With this bearish impulse taking place, we've created a downtrend channel on the lower timeframes. Looking on the H4, we have clearly identified both a non-horizontal support and resistance level. We could notice that price is currently headed towards the bottom of the channel. If sellers manage to bring price below the current support level it's sitting at, this pair could have some more bearish movement before we see a correction wave towards the upside. Take home point to apply in the markets, USD strength seems weak.
FX:USDOLLARShort
by CapitalHillFX
USDOLLAR - Reflection PointFX:USDOLLAR Hello Everybody, here we have the USDOLLAR INDEX on the Weekly chart. Over the past few months we have pretty much just been melting to the downside since making a double top around 12500. Price is now at a very significant level testing both the neckline and a major weekly descending trendline which was broken in March. We currently have two fibs in play, a bullish fib on the weekly timeframe with price hovering above the 786 Level and a daily bearish fib giving us some room to come down, this will allow us to continue to short the Dollar on the lower timeframes. We are hoping in the next couple of weeks we will have a clearer indication of where the dollar is heading in the coming months, should next week(s) candle close below the 786 level instead of rejecting it then we are anticipating further Dollar weakness. If you look below at the daily timeframe you can see that we are still making higher highs and higher lows, respecting the bearish daily 618 fib level, EMA and trendline therefore the dollar can continue lower to around 11500 before either a daily correction or a much deeper pullback takes place. If you have found this useful then why not join our free telegram on the links below, you can find more chart analysis and setups as well as educational content.
FX:USDOLLARShort
by FLY_TRADING