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Dxytradingsetup

DXY is bottomingWhat is clear is that USD is weak but also is clear that the market can't be unidirectional indefinitely. Usd counterparts started the year strong but the new highs (and new lows for the index) are marginal and lacking power. So far all that USD could do was to have some intraday correction and I think this is about to change and we will have a lasting correction. That being said I will look for opportunities of buying USD and my preferred pairs are EurUsd, AudUsd and NzdUsd for short and UsdJpy&UsdCad for long trades
TVC:DXYLong
by Mihai_Iacob
5
DXY- Dollar bears should be very careful now!I was pretty bearish USD till now and I wasn't disappointed by now and although in the long run I maintain my bearish outlook on DXY, at this point a drastic correction can be just around the corner. With DXY approaching a strong support and old congestion zone around 89, I think Dollar bears should be very careful. From the risk point of view also I can't see a favorable trade on the short side so, in my opinion, we should look to buy USD especially with NZD,AUD and CAD
TVC:DXYLong
by Mihai_Iacob
1
DXY- Could it go under 90.50?Two weeks ago I said that I expect 92 support to fall , and now we have this break, and Dollar index is trading at 90.65 at the time of writing. More important is that DXY is now just above another support situated at 90.50. If we look closely at the chart we can see that after finding support at 90.50, USD Index made a short term double bottom that I've spoken about and although we have a correction at that point this was very short-lived and the index reversed and broke under the flag pattern support. I expect USD to remain weak and, indeed, we can have a break under 90.50 support. The next support is around 89 zone and, in this situation, EurUsd can be the best bet for rising and challenge 1.25
TVC:DXYShort
by Mihai_Iacob
1
DXY- Double bottom on H1, correction underway?As I correctly anticipated, DXY broke under 92 important support and that lead to a 1.5% loss for the index, a strong break above 1.2 for EurUsd and GbpUsd reaching 1.35. Now the index found support in 90.50 area and has formed a small double bottom visible on H1 chart. The neckline of the pattern is broken and we can expect a correction to 91.50 zone resistance. I will look to sell rallies for EurUsd, GbpUsd, AudUsd and NzdUsd in this context.
TVC:DXYLong
by Mihai_Iacob
2
DXY to break supportAs I said over the weekend, I expect 92 support to fall, and if we look closely at the price action in USD major pairs we can see that each and every dollar's attempt to strengthen was sold by bears. Considering 3 months of consolidation above this support and the fact that the index is pushing and pressing down I expect this break not only to happen but for USD to spiral down in the medium term. My favorite pairs for buying in this context are: EurUsd, GbpUsd and AudUsd
TVC:DXYShort
by Mihai_Iacob
DXY- A break under 92 means disaster for USD (weekly outlook)For 3 months now, DXY is trading in a range between 92 zone support and 94.50 zone resistance. Although the 92 support has not been broken yet, USD seems very weak with all rallies being very well caped by bears. I believe that this support will fall eventually and USD will spiral down to 88 support. In this context AUD, NZD, GBP, and EUR should be bought against the dollar and I'm looking for a medium-term gain of around 5% for these pairs
TVC:DXYShort
by Mihai_Iacob
3