Its been quite a volatile last few days - too may GAP UP / GAP DOWN , decisive bars but still no clarity on direction. Let us look at global markets to understand this in a better way
Dollar Index on important levels - can breakout or breakdown - chances of breakout quite high
US treasure bonds rising again -...
The BNF on the budget day gave such a massive green candle, now big question is - will there be a follow-up or consolidation or reversal
When BNF is in full swing applying any rational thinking becomes meaningless, the script has texture, nature of its own which is quite dynamic . When it picks momentum it just doesn't listen to itself just keep accelerating...
Om Namah Shivay
The US dollar index has been on correction from feb 2021 ( from 308 days).
The current structure is complete as it looks from the counting. There could be further sideways corrections or the downward continuation.
These needs to be validated again the invalidation points.
The future of the Dollar index looks running for upward for...
There is weekly support line which should be respected in first attempt, expecting DXY to bounce till 92.8 zone from 90.25-90.3 zone.
BUY near 90.26 for target of 92.8 and beyond.
This should be bearish for Equities, commodities, cryptos....
BULLISH DIVERGENCE AT SUPPORT ON MONTHLY FRAME ...WILL LEAD TO GOOD RALLY IN #DXY .. WHICH WILL LEAD TO GOOD CORRECTION IN #GOLD #STOCKS #BITCOIN #NIFTY #SPX
DXY is on edge of the support at 96. RSI has formed positive divergence but yet not turned up. Circle marks the perfect support which should be touched by 23-26th July, if it has to work. The overall frame of the trend is still pointing 94 but positive divergence can't be ruled out. Better to be on the sideline and see which support is in motion. If it comes to 94...
Ichimoku, MACD and RSI, all point towards another downtrend. The U.S. not able to control the surge in new COVID-19 cases is also not helping the index fundamentally. Below 96 again??
Disclaimer : This is not financial advice please do your own research before investment.
As you can clearly see right now DXY creating Bear flag if DXY failed to sustain
above and breaks the flag from downside then the next support will be around 95.9
and if the price goes below 95 then the technically support will be around 93.
TREND ANALYSIS & TRADE SETUP
Possible start of Uptrend.
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On the charts, we find that the MACD is gradually heading higher as prices continue to consolidate with favorable tailwinds leading to strengthening of the greenback. Prices are now rising to challenge the strong resistance developed at 100 levels. This was the top recorded back in Mar 15 and again in Nov 15. Through the first half of the year the prices have...
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...
This is a advanced price action based short idea. The pink line is the cmp with the red being SL and green line being target area. Infact im very bearish on the dollar from here and below.
Dollar Index will be moving forward to the levels of 99. One need to be aware. Before making any shorting in major pairs.
With an SL for 97.54 and the target of 98.70++
