DOLLAR INDEXdollar index must go bearish after sweeping the yearly liquidity, and targeting the GAP left open at lower levels
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!
Dollar Index (DXY): One More Bullish Movement
Yesterday, I predicted a nice pullback on Dollar Index.
It looks like today, we have one more.
The price testing a key intraday/daily horizontal support
and formed a double bottom on that.
Bullish violation of its neckline may push the market higher.
Goal - 107.1
❤️Please, support my work with like, thank you!❤️
DXY Seasonality shows Dxy "Dollar" is bearish in December!
So i want to trade on sell side only on December!
EU is looks fine with bullish setup
Temporarily bearishness on DXYThis is as a result of it touching premium arrays and now need stop take out internal liquidity, on top of that there's liquidity void that was created due to FOMC MEETING
Identifying big moves on the horizon in the marketIdeas on to use the Liquididty sentiment indicator to spot big market moves, here's the DXY getting very illiquid
DXYWe looking for selling opportunities as the market is basically indicating a reversal pattern which is double top resulting in the upcoming sells to the downside after the market have broken outside the secondary bullish trend|1H TIMEFRAME
DXY Range Rotation / Harmonic - UpdateHello dear traders
Here is an update to my HTF analysis on DXY, it took much more time to print the move towards the upside than i expected.
We formed a very clear 3-Wave connector (ABC) which makes me stick to my overall Plan to look towards my lower targets.
Trade safe.
CCNils
Possibility of correction A downward trend is expected to form up to the specified support range. Then, according to the behavior of the index in the support range, the continuation of the movement process will proceed according to the specified paths
DXY - ANALYSISHello friends! I’d like to share my perspective on the Dollar Index ( DXY ) with you.
Based on what I see on the chart, I expect the Dollar to make a small pullback to the upside and then continue its downward movement.
If the Dollar Index breaks the level of 106.506 on the 15 minutes timeframe, I anticipate a further drop.
My first target for the Dollar Index is 105.722 .
Trade safe
17.12.24 Morning ForecastPairs on Watch -
FX:EURUSD
FX:NZDJPY
A short overview of the instruments I am looking at for today, multi-timeframe analysis down to what I will be looking at for an entry. Enjoy!
DXY closing the yearly candle with bullish intentWe await to see what the DXY wants to do.
Will it respect the bearish array and seek to complete it's sellside rebalance?
Or will it seek further buyside clearing of old inefficient range above from the yearly chart?
I believe the new year candle will seek the high of the current candle closing. We will have some time to see this play out.
DXY: Bullish reaching 110 levels- Expecting Dollar index to be bullish to the end of the year ,
- On a short-term basis you can see price retested to the demand zone last week and swept the liquidity from the last minor low at 105.600 and closed above with a strong bullish daily candle.
- Next minor high at 106.700 could be a great confirmation for the move so consider closing above that price your final signal.
DXY IndexDXY - U.S Dollar Index
Completed " 12345 " Impulsive Waves and " A " Corrective Waves
Break of Structure
RSI - Divergence
Rising Wedge as an Corrective Pattern in Short Time Frame
Demand Zone
Possibility of uptrend It is expected that after some fluctuation and correction to support levels, a trend change will take place and we will witness the beginning of an upward trend.
Dollar Index (DXY): Clear Strength?!
Looks like Dollar Index is ready for more growth.
I see 2 strong bullish confirmations after a retest of a recently broken horizontal resistance:
the price violated a resistance line of a symmetrical triangle and a neckline of a horizontal range.
A strong bullish imbalance indicates a high momentum.
We can anticipate more growth.
Goal - 107.13
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DXY bearish looking. potential head and shoulders and lower timeframe upchannel as bearish pattern, important key rejection level
DXY bullish 4HDXY is completing the Elliot 5 waves. as you can see it is already completed the waves 1,2,3 and most probably wave 4 and it is supposed to reach the wave 5 PRZ.
2 areas are defined which based on Elliot concept can be the targets for wave 5 although wave 5 movement strength need to be monitored since lack of upward movement would result in analysis fail.
Thank you for your comment and boost.
USDX "Dollar Index" Bullish Heist PlanHello! My Dear Robbers / Money Makers & Losers, 🤑 💰
This is our master plan to Heist USDX "Dollar Index" Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal / Trap at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich.
Entry 📈 : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Low Point take entry should be in pullback.
Stop Loss 🛑 : Recent Swing Low using 4H timeframe
Target 🎯 : 107.500
Attention for Scalpers : Focus to scalp only on Long side, If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money 💰.
Warning : Fundamental Analysis news 📰 🗞️ comes against our robbery plan. our plan will be ruined smash the Stop Loss 🚫🚏. Don't Enter the market at the news update.
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target.
💖Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style.
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USDX looks weak. Could it be an end to the $ rally. 2xcharts
I won't comment much, I think you can make your own minds up looking at the chart of USDX, 1 x daily & 1 hourly chart and its the lower timeframes that are looking bearish for the US currency going into less than 2 weeks before Christmas.
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.
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!
