As we can see on the H4 DXY chart on the side, the dollar index price is still looking for a foothold in this consolidation area to try to advance further.........
The small rising channel we see as wave z has to break down
with close below 92.870 to confirm that the dollar uptrend has ended,
then we can say that the last push higher is certainly completed,
and may be bear market in dollar has resumed.
macd in daily down tick
macd in...
Expecting Bullish weeks and reversal after New interest rates are out:
With Dollar index moving higher, expect it to rise until the next FED meeting on 22nd September 2021. Technically, Price will look to sweep liquidity built during the past few bearish months! Remember Trends in this timeframe (monthly) last for a long time. Once the key level of 97.750 is...
Pound against dollar , continues its bearish moves on march end also, increasing dollar strength may keep the pair on bearish way...
expected to touch the support area on beginning of April ..
Analysis only for education purpose
TREND ANALYSIS & TRADE SETUP
Possible start of Uptrend.
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Educational Chart Only.
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Possibilities of a continued upmove emerges from the higher time frame charts. Once the key resistance zones around 97.95 was overcome the we observe that the strong breakout above the key resistance zone around 97.81 has generated some positive momentum in the currency basket. With the bullish trends getting restored we need to see how long can the momentum...
The U.S. dollar after a consistent decline since the FOMC Policy is now witnessing some mild bullishness to post a rebound following a long stretch of declines. The Fed meeting minutes released lately shows that officials factored in the tax cuts. While tax cuts were one of the factors that led the central bank to hike interest rates in December. Inflation,...
Gold steadied last week after witnessing a steady decline is seen rebounding as the dollar seems to be tripping on reduced expectations for U.S. interest rate hikes next year. The dollar suffered its biggest drop in five months on Wednesday after minutes from the U.S. Federal Reserve's showed "many participants" were concerned inflation would stay below the...
Supports proved to be quite determined in producing a strong recovery. However the rally now has tread into median line resistance and this could now hold back further strengthening next week and push the DX into a range until 94.30 is surpassed.
Dollar Index has been witnessing a freefall and the fall beyond critical supports around 94.30 mentioned in the last issue lead the DX lower. Currently, the U.S. currency's performance against the euro and five other currencies, hit its lowest level since May 3, 2016. The sharp weakness not witnessed since the period of January to July 1986 is driven by...
In view that the dollar has reached a phase where some consolidation / correction is imminent.
We can look at either going long in the dollar to hedge our Nifty / Bank Nifty longs.
Or we can also pick dollar puts for next week as a stand alone trade in just the dollar.
