Dollar_index
Dollar Index Little more down before some good upside correctionHi Guys, III Wave of sub wave is about to end, so I'm expecting upside correction as IV wave of sub wave, So by mean of that we will see downward movement in eurusd , upside in usdchf, So wait for it to complete last piece of iii wave then look for upside. Good luck
What is the Dollar Index - DXY - USDX ?What is the Dollar Index?
The U.S. Dollar Index is a geometrically-averaged calculation of six currencies weighted against
the U.S. dollar
Which currencies are included in the U.S. Dollar Index?
The U.S. Dollar Index contains six component currencies: the euro, Japanese yen, British
pound, Canadian dollar, Swedish krona and Swiss franc.
What is the Formula Of DXY
Here is the formula for calculating DXY:
DXY = 50.14348112 × EUR/USD^(-0.576) × USD/JPY^(0.136) × GBP/USD^(-0.119)
Will Draghi be the one that will revive the Dollar? Draghi is scheduled to speak in about 30 minutes in Jackson Hole.
Yellen, that spoke earlier today, has sent the Dollar Index back to test the 200 weeks MA line as support.
A critical support zone is being tested...Again.
Will Draghi deliver the counter punch in the in the global currencies war and revive the Dollar by playing down the Euro?
Conor vs. Floyd?
Try Yellen vs. Draghi
The real money makers.
Gold - TOTAL Solar Eclipse First Since 1776 Cross Over USA (signThere are many rabbitholes to dig deeper into, one of which are the coincidental total solar eclipses occuring specifically over a continent only viewable in that region in history corresponding with happenings. 1612 Africa, 1776 USA, 1914 Europe, 1918 Viewable for usa, 2017 USA, 2024 USA. There are many more ofc (not sure if the dates are right, taken out of my mind)
Stay safe and take a moment to contemplate over what history tells us, have shown us economically speaking in regards to sound money, manipulation, debt, wealth transfer. If united we can take back our freedom across the globe. Dollar_Index keeps falling…
Question - How will you trade EURUSD? Question (I know what I'm doing, but I want to read your opinions)...
During the last month, EURUSD has been trading around its 200 weeks MA line.
1.17-1.19 was a potential Sell Zone that I've mentioned in my previous analysis.
On one hand, EURUSD respects the Sell Zone.
On the other hand, EURUSD has managed to close above its 200 weeks MA line for the last two weeks (found support near 1.17 - 2015's high).
How will you trade EURUSD in the near term future?
Do you prefer to be a buyer? Or a Seller?
In what conditions?
Enjoy the weekend!
EURUSD SHORT SETUPHere we have yet ANOTHER setup for EURUSD shorts, this setup needs to be followed EXACTLY in order to not enter a losing position on this trade.
We need this current strong candle and current low to find a bottom then retrace up to my sell zone (two red horizontals). From the sell zone, look for sniping opportunities on lower time frames to enter sells toward the take profits given (horizontal greens).
WE MAY NOT REACH THE SELL ZONE. In this case, look for a false break of the black trend line. I will also take sells from there.
IF WE KEEP FALLING, and get NO RETRACE, then we may have missed our trade. I will only sell based on a solid bullish pullback given there is an opportunity on a 1hour, 30min, or 15min chart.
HAPPY TRADING!
USD BouncingThe Dollar index is bouncing from support zone 93/92.50 which indicates that we may witness a good recovery or reversal waves in some of the dollar pairs specially USDCAD, I recommend you to Buy the dollar if it holds above that zone after the weekly close.
GoodLuck
DXY DailyI would expect a pullback to 95.5, where the 50 EMA is, 61.8% Fibbs, also 23.6% Fibbs on larger time frame and 10 EMA on Weekly time frame.
From there we could see leg lower to 92 or move higher to 96.5.
DXY IN A POTENTIAL BOUNCING LEVEL?DXY is in a strong downtrend on Daily. Now it's reaching a long term support, so let's see if it can go for a wave up or if it keeps falling.
Buy to 111.80 USD/JPYI would probs buy this up. There is some strong resistance at 111.80 which has proven to be strong support and res. in the past. Will have to see how the data goes this week!
Yen about to suffer or benefit from geopolitical uncertainty?The USDJPY is approaching a key level on the weekly chart at 110.30.
However is this an opportunity to long given the obvious fact that both countries have different monetary policies ?
Or given the fact that Abe's popularity is tanking as a result of the scandal may cause markets to reassess the probability of him seeing his abenomics policies to fruition remains to be seen. Read more about it.
www.bloomberg.com
Thus, probable scenarios moving forward
a. 110.30 supported with stop below 108.00 with target at 113.40 and above (Month end flows and FOMCweek)
b. 110.30 breached and weekly trendline broken but supported at 109.30 (USDOLLAR continues to tank without finding support)
c. Sideways trading between levels 108.40 and 110.30 (Directionless until NFP in August )
Weekly downtrend on Dollar Index DXY, short bias @ weekly supplyWeekly downtrend. Shorts at weekly and daily supply zones around 97. Room for price to drop to opposing tested weekly demand. New potential weekly supply zones being created at 95.55
Longer term bearish signal was givenUSDCAD broke below a year long trading channel.
Whether it will pullback higher or not, the longer term bearish signal was given.
USDCAD is probably heading towards its weekly uptrend line (green dashed line)
Dollar Index in 62 daysTomorrow is another Trading Day July 17, 2017. After seeing some videos in Youtube, I was inspired to practice charting in Trading view. This is not my idea but I found it interesting to see how the price goes and it shows how it behaved with the Trading Tools available.
