dollar is ready to shoot upTVC:DXY has taken weekly support which is strong and is in parallel channel, it can give a parallel channel breakout and reach first target zone in coming week or 2.
Dollarlong
Dollar IndexProbable trajectory of Dollar Index.
Levels and trading reversals marked...
Happy Economy tracking...
Dollar Index Broke-out !! Dollar Broke out above 97$ and headed for 100-101$.
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DXY Dollar Index - view for next few years. Purely based on the charts, the bear market for DXY maybe limited down till 88. Any substantial weekly close below 88 voids this view.
Dollar IndexPossibilities 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 sustain . Considering the overall chart setup we are of the opinion that the brief pullback shall continue to witness some buying interest. Momentum setup continues be positive suggesting sustained bullishness in the coming days. With DX biding time to get a hold on the overall situation we could be witnessing some sedate movement for the next few days. With the momentum continuing to favor more upside one should be looking at higher levels around 99.81 in the next few days. A bullish dollar scenario does not spell good news for INR despite the markets showing some mixed reactions.
Idea Sourced From
NeoTrader
trade.chartadvise.com
NEW YEAR TRADE NIITECH JAN (FUT)HEW YEAR TRADE
NIITECH
STOCK HAS FORMED A STRONG DEMAND AND SUPPORT ZONE
NEAR 1100-1105
AS PER MY VIEW A SLIGHT GAIN IN DOLLAR IS EXPECTED IN JAN
WHICH WILL LEAD TO INCREASE IN NIITTECH
HAS BROKEN 1140 AGAIN ON WEEKLY CHART
JAN FUT
BUY@1155
STOP@1105
TARGET 1@1205
TARGET 2@1250
LOT:750
QTY:1
STBT IN CANARA BANK SEPT FUTSTBT IN CANBK
SEPTEMBER FUTURES
SHORT@290.25
STOP@293.75
TARGET@277
LOT:2000
QTY:2
BTST IN INFY SEPT FUTBTST IN INFY
SEPTEMBER FUTURES
DOUBLE BOTTOM BREAKOUT CALLED PLAYED-OUT
PULLBACK PLAYED-OUT
NEW HIGH TAKEN-OUT
A CLASSIC UPTREND CHART
BUY@1440
STOP@1429.5
TARGET@1455
LOT:600
QTY:2
SWING TRADE IN LUPIN SEPT (FUT)SWING TRADE IN LUPIN
SEPTEMBER FUTURES
BUY@890
STOP@877
TARGET@916
LOT:700
QTY:1
BTST IN SUNPHARAM SEPT (FUT)WE ALREADY HAVE A POSITIONAL CALL IN SUNPHARMA
BUT ONE CAN STILL PICK THE MOMENTUM BASED TRADE
IN SUNPHARAM
BUY @630
STOP@620
TARGET@642.5
LOT:1100
QTY:1
STBT IN CANARA BANKSTBT IN CANARA BANK
AUGUSUT FUTURES
SHORT@274.5
STOP@277.5
TARGET@266.5
LOT:2000
QTY:1
