$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.
silver is sell on rise as there is no change in the fundamentals yet so break above the given resistance line is not seen in near future so we continue to drop in the downward channel also it depends on the behaviour of dollar index and cpi data of usa so upcoming Data can be used as a trigger for change in the fundamentals and can help silver to get above the...
TVC:DXY has been moving perfectly as per Elliott waves. It has completed an impulse and now in correction. It has already corrected near 50% which is also close to previous degree wave 4. Worst case we might do 61.8% around 107. Once we get a positive daily close from here, it would be reasonable to assume next impulse has started. What does this mean for...
On Daily Basis:
US Dollar Index (DXY) is correcting after it achieved the target of 109.29 as predicted in earlier published idea. 105.50 is a near term support level which is a test of DXY for further next decisive move. The trend is bullish right now and it should take the support of 105.50 with next probable target of 112 to 114. RSI on weekly basis has come...
Economic narratives and dialogues covering crypto and traditional market trends have discussed the hypothesis of inverse correlation between Bitcoin and the US Dollar. As the world’s largest cryptocurrency was created with the vision of decentralized substitution for centralized fiat currencies, we have seen the hypothesis becoming true in the past couple of days....
My prediction is in snapshot. Whenever price breaks the wedge pattern. It reaches 26-70% range. So as of now the dollar is strong and will reach upto 123 and beyond.
the dollar index might see a sell-off for quite a few while the reasons for it is
REASONS
1. on a 1week time frame we are seeing a strong resistance.
2. on the 1day time frame we are seeing double top on the resistance.
3. and on 15 min time frame, we can see a head and shoulder pattern and a descending triangle pattern.
4. if the US market stays positive today...
The US Dollar Index, DXY, is bouncing off its 50SMA (red) on the daily chart. This looks like a sign of strength in the US Dollar as it seems folks are buying this dip and a successful bounce on 50SMA can take the price back to previous highs of 105 on the DXY.
FX_IDC:USDINR
Indian Rupee at all-time low which can mean:
1. RBI will intervene next week to make the bull run slow
2. Evening star at 4 hours look promising. One should watch the next 4 hourly candle.
3. The previous high, 77.88 can be a resistance for the next consolidation. The consolidation is possible as the Dollar is at all-time high and RBI might intervene.
TVC:DXY is showing divergence with RSI where DXY has made a higher high but RSI made a lower low on daily timeframe. Could this bring some breather for equities and commodities for few days? Lets wait and watch.
DXP cmp 104.665
looking at the charts,
I am sensing possible structure in DXY...
We are in wave 5,
whose tgt comes around 108.xx (can be seen in charts)
Charts if for study purpose only!!!
After the yesterday's 160 pips fall, EURUSD took great support at $1.0776 - $1.07574 levels for a good 78 pips pull back therefrom.
Saw some rejection, Retraced 50% and ended up forming a wedge with a $1.07970 low and $1.08236 high.
There was quite a resistance at $1.08070 levels, Breakout therefrom made the high of $1.08236.
(Which happens to be the 61.8%...
This is a long term analysis on TVC:DXY . Dollar has a strong supply area around 98. As long as 103 isn't crossed, we can expect lower levels of 80 soon. Considering global macro factors, this is a strong possibility. The rub off of this would be huge on other linked currencies. One can keep a watch on this in coming months.
Disclaimer : This is a long term...
