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Dollar Index Exhibiting Strong Bullish SignalsThis may be my second or third time analyzing the dollar index, so bear with me on this latest go. Looking at the weekly chart, especially in the last year or so, we see there is strong evidence of a reverse head and shoulders, only that the left shoulder is still to be formed. But, the reverse left shoulder aside we still have another strong bullish indicator, the cup and handle forming. Which ever way you look at it there's a tone of technical evidence that the dollar index is fixing to weaken relative to the currencies that comprise it. This doesn't bode well for the proponents of the most recent "trade war" between the U.S., China, and Europe. With U.S. goods becoming more expensive relative to the rest of the world and the anticipation of higher prices from the tariffs imposed from those aforementioned countries; demand will lessen for U.S. goods both internationally and domestically and this has the makings of a inflationary slow-down in the economy, which is the worst type of recession.
TVC:DXY
by ReadySetBudget
DOLLAR INDEX NEXT MOVE... No any strong sign to short DXY yet... wait for daily closure to confirm if daily close strongly above 95.00, indicate a good bullish momentum still in the market. otherwise a spike above 95.00, indicate a weak bullish momentum start happening. Market will swift away around. So be careful with shorting too earlier... Aim for better entry price.. overall DXY is bullish to me till this point despite all the news about trade war... US market is position itself for greater year ahead into 2018-2019 while China market will assist on this while consolidate its overprice market for a better healthier market. Longest bull market in history in making. GREAT FEAR vs GREAT GREED
TVC:DXYLong
by fxpro86
Dollar Index ResistanceHey traders! Hope you're having a good day wherever in the world you are :) So today I bring forth to you the dollar index which just doesn't seem like it doesn't want to give up it's monstrous run up in the past few weeks... until now I hope. I've drawn in what I think might be a good area of resistance and you know what that means. Time to look for shorting or long opportunities that are paired with the dollar and/or even commodities such as Oil, gold, etc. So get to it and lets make some $$$$.
TVC:DXYShort
by Agentzereo
3 reasons to sell the dollar todayNot so often there are days when you can say with almost 100% certainty that this is a day of great movement. So today is just one of those days. Too many crucial things happen on this Friday. First, the US tariffs against China ($ 34 billion) since today are reality. China, in its turn, introduces counter tariffs. In fact, this means war. Especially because Europeans are on the line, and the rest of the world as well. And although the issue of applying the protectionist foreign economic policy is ambiguous and has not quite obvious effects, nevertheless, most experts agree that the world economy will lose from this. And it can lose so seriously that a new world crisis will begin. The fact that the shares in Asia have updated the nine-month lows on the eve of July 6 suggest that these opinions did not arise from scratch. Secondly, today's statistics on the US labor market can quite unpleasantly surprise the markets. That is, we do not expect devastating data (there was simply no serious reason for this during the reporting period), but the markets are already so spoiled by excellent data from US that even a small negative deviation can well provoke a sell-off of the dollar. The United States is in fact trapped in the "ideal". Because it's impossible to stamp records always. Sooner or later, Akela will miss. The unemployment rate has reached the level of 3.8%. The occasion for optimism. So, it is so, but if you recall the course of macroeconomics, then there is such a thing as "natural unemployment". That is, the level of the labor supply, which provides an opportunity for further economic growth, since 100% deprivation deprives the economy of opportunities for growth (at least extensive). Estimates of the level of natural unemployment vary, but the consensus is somewhere around 4-5%. As you can see, the USA has already fallen below the critical level. That is, the possibilities of quantitative growth are limited. But the NFP indicator is just the quantitative growth and there is almost no space for it. So, the US will be very difficult to maintain the growth rate of new jobs at + 200K per month. And finally, as we said earlier, there are purely technica reasons, if you look at the Dollar Index chart, you can see its inability to overcome the key resistance 95 and see signs of a nascent correction: consolidation at the top, the formation of reversal graphical patterns, candlestick signals, in a neutral-negative state (see the KenJi and TDI indications), etc. So, we believe that the chances of a dollar increase are small, but the probability of correction is great. Therefore, we recommend selling the dollar on all fronts. The minimum target for correction for the Dollar Index is 93.30. But very likely and descent to area 90 in the foreseeable future.
TVC:DXYShort
by Trade24Fx