Usually a massive downward movement results in a spring like rebound but when price breaks down a key level and two massive supports i.e. the 50EMA and 200EMA, the psychology overtakes the physics. Monday would be crucial in determining the next levels. It would be the right move not to take long positions unless it moves above the 200EMA. If the rsi peeks into...
The 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
Expecting Bullish weeks and reversal after New interest rates are out:
With Dollar index moving higher, expect it to rise until the next FED meeting on 22nd September 2021. Technically, Price will look to sweep liquidity built during the past few bearish months! Remember Trends in this timeframe (monthly) last for a long time. Once the key level of 97.750 is...
Keep an eye out for range breakout.
Flag and pole pattern breakout can be observed
Targets can be 360/380/420
Current price is also near 3 year high
Please do your own analysis before making any decisions and also let me know if I missed something.
Let's learn together.
". There is a possibility of temporary retracement to the suggested support line (0.9163).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. USDCHF is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
A "long legged Doji" is a fancy name and shows indecision in the market. Since it formed after a strong bullish candle, the dollar might grow weaker against the rupee in a short term as RSI is over bought or stay range bound. This is a speculation because market may take move in any direction. Most analysts would want to watch the next few candles to check the...
USDCAD has taken a reversal from 1.20200 in the weekly time frame with two Doji candles with good confirmation but volume is not supported so we can look at the first target of it is 1.26500 which is at a 0.23% level of Fibonacci
the one fundamental thing that is help it is the rising of the US Dollar
Trade is not recommended
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As we can see, the price has hit its RESISTANCE and is falling down.
Let us know your views on this in the comment section. Thank you all.
There is good news for our followers. We will be analyzing...
USDINR 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 !!!
Everything 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.