H&S has been formed already and in our previous analysis we made this clear, again the neckline of the H&S was broken which we previously traded it on retest.
After this retest we expect the price it's low now however there were a raising trendline acting as support below after retest, if bears have the energy to push down then we'll reach the target of next...
GBPUSD has been in global bearish trend due to dollar's high, but dollar seems to start correcting, and the close resistance are broken, and from the chart you can find next resistance target for buyers.
Wait for the daily candle closure above the resistance being tested, then retest and find buying confirmation using lower time frames.
U.S Dollar currency Index tested our target level 111. I was predicted this on 13 may 2022 post.
It is working in parallels channel and currently trading at upper line resistance. it may correct soon.
Negative Divergence also seen on daily and weekly chart.
Dollar dominates the whole market
We clearly see that DXY should start to fall from 114.0 to 109.0
Current Market Price is 113.45
This indicates that eurusd, gbpusd, audusd, nzdusd should go up
Be ready to book good profit in coming weeks
Sell DXY from 113.50 to 114.0
Stop Loss = 115.20
Take Profit = 109.0 - 108.0
Dollar index is consolidating in the big time frame We are still for the news to get the breakout or the breakdown the further movement in different currency pairs , commodities , equity will be directly depend on it and break on either side will give a start to new bearish cycle or the bullish cycle for dollar index.
As per my view we will be going higher...
📉 XAUUSD - Bearish - We look to Sell a break of 1645
▪ The primary trend remains bearish.
▪ Sentiment remains negative despite the pull-back higher in prices.
▪ Further downside is expected.
▪ A break of 1645 is needed to confirm follow-through negative momentum.
Confidence: ⭐⭐⭐
⛔ Stop: 1652
🎯 Target 1: 1635
🎯 Target 2: 1615
Beautiful breakout above 92 as shown the related chart below...
right now in bullish territory...
Important levels marked for next week.
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Beautiful uptrend..
So what next...
Some retracement and continue the journey upward... ?
Important levels marked...
Follow for more updates
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$DXY
US Dollar Index:
•15-16 Year cycle is progressing. (Expanding)
•Expanded time between cyclic crest & trough is 2 years. (Previously cyclic expansions was for 7 year and now it is for 9 years.)
•Now entering the M3 supply zone. Top is near.
BUY : 39 TO 25
TARGET : 140 TO 156
Reason For Selling This Script :
In this script the price is falling in down trend channel. Now the price is in side way moment once price close above 47 in monthly time frame and the target level given above.
Technical Analysis Used :
Monthly time frame analysis
Down trend channel analysis
Note :
Above given levels are...
Stock Name - Dollar Industries
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 547
#This is not Buy and Sell recommendation to any one. This is for education...
