Dollar index DXYMy view is bearish on dollar and this is best bearish count to my mind.
61% retrace of whole decline of fall from 101 to 89 is almost achieved.
Even if dollar has to rise more to 78.6% retrace or complete 100% retrace to form a triangle , then also it has to provide a second X wave and then it may rise again for a final Z wave on upside before a larger decline back to 89 may start.
Dollarindex
DXY Trading Plan - 23/Nov/2021Hello Traders,
Hope you all are doing good!!
I expect DXY to go DOWN after finishing this ending structure.
Look for your SELL setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
The dollar index Resumes Bear MarketAfter 2 failures to hold on to the upward trend and corrective rallies, it is clear that this bull has no bones. The dollar index has been in a bear market since 2018 and each attempted rally has failed. This time is no different. The dollar bulls are about to make the most classic giving up of their opinion and they will do it all at once. It will be a meltdown of mammoth proportions.
DollarThe 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 hourly
rsi in daily is down tick
stochastic in daily negative crossover
dmi adx in converging mood
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
USDINR DOW theory Weekly View from Monday 14Jun2021USDINR DOW theory Weekly View from Monday 14Jun2021
Uptrend in Daily Timeframe
USDINR has broken out of a triangle/flag pattern
Retest of the same is expected to go higher.
However, gap up possibility is also considered, if this happens we are super bullish on it if it stays above the gap for at least an hour.
Details given on the chart.
Happy Trading !!!
USDINR DOW theory Flag BOEverything explained in chart...
Sold Put options of lower strikes and next expiry...
Disclaimer : This is a trading idea for learning. No trading call. Keep your stop losses and risks within your limits.
USDINR View USDINR broke out and retested the 72.64 level
Also, the retest is fantastic with a big rejection hammer candle (bullish sign)
Buy the Dip is the view....
Making flag n pole continuation patterns
Dollar spirals down?The dollar index completed 1 of 3. Whether 2 is over or not awaits confirmation, Keeping both scenarios open for the next two days if DXY goes below the previous swing low that would mean that 3 of (3) is going on else it might go above 91 and test the 40-day exponential average.
If 3 of (3) has started then all commodity prices should continue to move higher.
Dollar Index Trading Strategy If you see 60 minute chart, You might see a clear triangle pattern and other indication also in favor for Dollar up but not clear when it will happen so be prepared for DOLLAR upside breakout but there is a minor chance for downside also.
I am more in upside rather than downside because of too many support are in placed right now.
Trade-1: Buy Above Central Pivot and Target should be Placed 92.20
Trade-2: Sell Below 91.60 With Target Should be 91.20
EURUSD, bearish continuation on Second weekHi traders
March Ist week turned out to be a game changer in the trading sector. Dollar strengthened with last week strong fundamentals
EURO against Dollar pair starting the month with strong down movement , price action supports further continuation of down momentum ..
It has a fair chance to retest the area of 1.20 and may continue its down momentum..
analysis for education purposes
NIFTY - NEXT MOVESIts 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 - Though personally, I feel last time it was an over-reaction of the global market due to rise in bond yields but yet, the fact remains global markets are reacting promptly on rise of bond yields
US DOW futures are facing a good amount of downside pressure.
NASDAQ composite also showing weakness
what do we make out of this - my take is - global markets have started retracing from higher levels, definitely some weakness but early to say its a reversal from the top for a short term. we may see some downward pressure on NIFTY in the coming days, so maybe it will fall or consolidate for a while
watch out for the levels mentioned in chart and that GAP zone. Nifty behaving around those levels will give a decent idea
Happy Trading
MSK
Will Dollar index spoil the BNF Budget Rally ? 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 :) Good day for all CE buyers.. 300-400-500-900 lol
What caught my attention today is dollar index - it is forming an inverted H&S on a daily time frame. It may or may not break out. but if it breaks out, it does have the capability to pause BNF rally, when I say pause - BNF may consolidate or correct a little.
So keep a watch on dollar index tomorrow and for next few days
Happy Trading
MSK
US Dollar Index Elliott Wave analysisOm 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 weeks or more as option 1.
This is just for educational purpose. No trading suggestions provided.
Om Namah Shivay