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. Follow Chart Instruction. Do not be Hurry for entry. Wait for Proper Entry Setup. Buy/Sell with Best Risk Reward. Educational Chart Only. You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
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...
Be cautious with all trades. Dollar Index soon will be on a new highs. Also major currencies Paris as well.
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++
Dollar Index has build a strong support base and started breaking major resistance. It is now moving ahead towards the target of 1-- 97.48 2 -- 98 3 -- 99.21 And 4 -- 102 (Major Resistance). With the support of 1. -- 97.14(Closing basis) 2. -- 96.50 3. --- 95.70 Be cautious with the trade in major pairs. Lots of factor might impact the DXY so don't let it to...
Dollar Index study - DXY pullback and possible direction
So Dollar Index has met with its old friend - a downtrendline - after a long time. We can expect an interim fall in the index from current levels of 92.7 to levels of around 91. Its a contra position to market sentiments, hence extreme caution is adviced, however the gains will be sweet! The RSI is also dropping from overbought levels to 68 levels, look poised to...
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.