Dollar_index
DXY Nearing Confirmation Point for Larger count.Price is yet to breakout of this latest congestion zone and allows for two competing counts.
The chart has the easiest description pictorially...with the WXY for the wave 4 of the major wave ii of 3/B bottom, Or, we already have the wave ii of 3/B bottom in place at the mid Feb low completion.
Both counts look for strong upside into 2019, just timing of kickoff...already or into summer.
DXY daily - Triple top on resitanceLooking at a possible third attempt failuer on DXY - watching for a reversal signal on smaller timeframe to finish out what is noramlly a weak month for the DXY. Any ideas out there are welcome, leave a comments below
EURUSD-TOUCHING SUPPORT FROM JAN 09' 2018EURUSD-TOUCHING SUPPORT FROM JAN 09' 2018. Bounce is a good possibility from over sold but weakness are shown in the market. I eill post a 30 min chart soon to see the internals.
Dollar recovers, above 90 again and approaching resistance Will probably test the downtrend line today (or early next week)
US Dollar Index in an Ascending PatternThe Head and Shoulder's Pattern started forming on the Dollar Index from the Beginning of October 2017 to the End of December 2017. It break out of the Neckline and retested it on the Mid of January 2018 and fell sharply thereafter. The Dollar consolidated in the Mid of January 2018 in the price range of 91.00 - 90.10 but the consolidation did not remain much long as the unexpected US Govt Shut Down pushed the price even lower to test the Support, but didn't break through it and created a low of 88.25 on the 16th February. After this huge fall of the Dollar it again started consolidating in a Ascending Triangle from the last 60-65 days. Now the Price has already tested the Resistance twice, now it may again test it one or two times then it might break the resistance and test the next resistance of 91.5. If the Price on the daily closes above this mark then the dollar will be bullish from thereafter. Let's see how this price action plays out.
Note: This is my first ever post on trading view. Do let me know in the comments if you liked it or not.
Happy Trading ;)
DXY (Dollar Index) – Correction Final StagesDXY could continue towards 89.60 before running towards 91.40 Levels. At those levels, it will be watched for the down-trend to continue.
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DXY/Dollar Index re-tested channel resistanceDXY is in a down channel and last week price re-tested the channel resistance with inverse H&S failure around 90 level and has broke the counter trend line. Given the well respected channel will price fall back to channel support area around 80.50-70 coming week ?
A stronger USD in the next months?Are you worried about rate hikes by the Federal Reserve? There is something more alarming. Rising Libor rates is a bigger concern right now. Libor has been rising since Feb. 7 for 31 consecutive sessions, reaching 2.27% last March 21 (next release today at 19:30 ET). Not only, Libor tends to be a 3-month leading indicator to the dollar (I can't insert the Bloomberg chart). It would mean in the next three months a surge in the USD.
From the weekly chart of the Dollar Index, it could be a bullish signal. Indeed, the bearish trend has stopped on the 50% of Fibonacci Arc and, even though I haven't drawn it in the chart, the low (highlighted with the letter "L") has retraced the 61.8% of the previous bullish movement. The bullish signal there will be with the breakout of the rectangle resistance within which DXY it moved in the last weeks (above 90.80 approx.).
However, there is an important consideration. If there will be a tightening-up of the "trade war", we will see a weakening, a depreciation of the dollar. So, prudence.
Happy Easter to you all!!
Dollar Index; Temporary Pause before Powering HigherAfter Gartley formation, #DXY started a massive rally but it is approaching the top channel resistance.
I expect a corrective downward move before this channel gives way and we witness a durable rally in DXY.
Good luck,
Ali Sharifazadeh, CFTe
Bull Riding - Rodeo Trading – Intraday Market Orders (Part1)Bullish Correction does not seem to be complete as the DXY Pattern keeps on becoming more and more Complex. In other words, DXY could commence a Bullish Swing in order for the entire Corrective Pattern to complete. This is because the Bearish Swings previously predicted in the FOMC Press Conference - DXY - Triple Three article do not really fit a proper Impulse sequence.
Don’t get me wrong, the analysis was good and the DXY got trashed, as predicted. Traders were happy and looking green, everyone was nice and cool. The thing is that, I don’t like the way the Impulse looks, not strong enough, with overlaps and also showing Bearish structures on EUR, Gold, GBP. I’m about step way outside my comfort zone with this view, because I can’t just ignore these signs and hints.
This post implies more risk than usual but due to the importance and duration of the projected swings, it could be worth it.
Please consider holding this one out if you are not up to it and don’t want to take the risk.
Trades & Orders
XAU/USD – SELL Positions:
• Aggressive – 1245.00 with SL @ 1360.00
• Moderate – 1350.00 with SL @ 1370
• Targets – 1325.00 / 1310.00 / 1295.00 / 1285.00 / 1265.00
XAG/USD – SELL Positions:
• Aggressive – 16.65 with SL @ 16.87
• Moderate – 16.70 with SL @ 17.00
• Targets – 16.40 / 16.15 / 15.85 / 15.50
EUR/USD – SELL Positions:
• Aggressive – 1.24250 with SL @ 1.2480
• Moderate – 1.24500 with SL @ 1.25100
• Targets – 1.2340 / 1.2250 / 1.2180
DAX30 – BUY Position:
• 11900.00 with SL @ 11700.00
• Targets – 12200.00 / 12450.00 / 12650.00 / 12850.00
Decision coming soon...Resembles a pretty repetitive pattern. Didn't get fuzzy until the fifth wave which was prolonged due to the combination of futures launching and investors trading to maintain the parabola. Bullish divergence on RSI. This could be a reset of the cycle. A break out upwards will likely lead to a retest of 20,000. Risk reward is pretty nice here if one is looking for a trade. Stop loss around 7200 to protect the trend line and you're risking a few hundred dollars for thousands.
Dollar Index Weekly Rebound IdeaPending Long @ 87.40
Stop Loss @ 84.10
Target @ 95.10
RR Ratio @ 2.33
Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
DXY - LAST DRIVE DOWNThe Dollar index seems to be making it last drive down. It has made 2 drives so far. after the last one is made we will see a strong swing to the upside.
BUY LIMIT
ENTRY - 87.04
SL - 84.50
TP - 92.45
TP - 96.64
Red Dotted lines are temporary S&R levels
Orange lines are more well respected S&R levels
FOMC Press Conference - DXY - Double Three - USD Getting TrashedFOMC Press Conference is right around the corner and the outcome is being watched by traders all over with much interest.
Dollar Index (DXY) is showing a Triple Three Pattern which would mean that USD could get trashed once more, just as it did on my previously posted "FED December Rate Hike – DXY Technicals – Elliott Wave Analysis" article when I said that the FED would increase the rates but expecting a Bearish trend.
Now the Market is in a similar spot and it looks like the USD is positioning once more.
My 2 cents on the event:
Rate Hike to occur from 1.50% towards 1.75% benchmark points, making the USD Bullish until the Press Conference
Jerome Powell not to signal more than 3 Rate Hikes this year, making the USD Bearish and forcing traders to trash the dollar
*Entries and scenarios available for our Members.
Dollar index (DXY) Bollinger Squeeze 90.52 to 90.30 area saw bear momentum take the dollar down, but ever since its been coming back up to retest broken support. We are currently seeing bollinger bands narrow down and likely a move will happen soon. Price action tells me that we are still in a bear trend and we would have to be careful if thinking about buying with the landmines around 90.30 and 90.52. If we are able to break it clean we could see the next target being in the upper 91's. If the price keeps getting rejected at resistance we will likely head back down to local support.
Dollar index (DXY) bollinger squeeze 90.52 to 90.30 area saw bear momentum take the dollar down, but ever since its been coming back up to retest broken support. We are currently seeing bollinger bands narrow down and likely a move will happen soon. Price action tells me that we are still in a bear trend and we would have to be careful if thinking about buying with the landmines around 90.30 and 90.52. If we are able to break it clean we could see the next target being in the upper 91's. If the price keeps getting rejected at resistance we will likely head back down to local support.
DXY waiting on the Dust to SettleWith the Dollar consistently producing strong data its only a matter of time before the chart reflects it. I'm starting to be more bullish especially with the stall and range the EURO has itself currently in. I'm expecting the index to break to the top but we will see as anything can happen in the markets.
If the index breaks north the target will be the 90.40 area and the further north 90.92 area.
If we see a break south our target will be the 89. 40 area and further south 89.00 area.
As always do your own do due diligence.
Keep Calm and Forex.
USD DOLLAR LONGI am waiting for a descending move into the previous level of consolidation signified by the green buy area. At that level I plan on buying the DXY and setting my take profit around the Orange 161.80% Fibonacci level. I will use trailing stops in conjunction with price action for the previous days high and low.
DXY Dollar - Another Last chance Short!I did have a very similar headline recently and whilst it was near the 4 high, this internal wave ii offers another potentially last one that covers both the micro and intermediate degree within the wave 5.
On the larger degree it's important to note this is wave 5 of wave ii of 3/C. Regardless of the 3 or C counts, they both suggest into 130+ in the next couple of years which should shake up the monetary world as we know it with all of the dollar denominated debt out there.
TECHNICAL ANALYSIS: US DOLLAR INDEX – MARCH 19-23, 2018The US Dollar Index is still under pressure from the market. The higher inflation figures announced or the dismissal of Rex Tillerson advisers have resulted in a suspicion of President Trump's policy or the prospect of trade wars due to tax increases or policies to protect the United States's benefits. As a result, the market price of this index still under pressure.
However, when viewing the daily chart, the chart shows pullback. It is possible that there will be a price reversal in the coming weeks.
If the price can close above the resistance level at 90.89, it is likely to be uptrend and can reach resistance at 92.51 and 94.00.
If the price closes below the support level at 88.20, there is a chance that the price will continue in downtrend.
DXY - Cheating with the Joker - Double or Triple Three?Trading tip:
Caution is needed with the Wave Counts below as the Dollar Index could "pull" its last available "joker" in its sleeve and extend the Corrective Structure towards a Triple Three, thus resulting in a temporary Bullish outcome before the expected fall.
Members already took profits on the previous BIG RED BEAR knocking on your door! Part 2 - DXY 2H set-ups while some performed some trading maneuvers such as moving SL to break-even or in profit.
According to the next moves, the Structure would become clearer and a new analysis would be posted when the time will come.
Many pips ahead!
