DXY
AB=CD short DXYDXY appears to be overbought on momentum indicators and at the same time there is a AB=CD pattern on the chart
Are the dollar days over?In the past 15 days, dollar has crushed the first 2 resistances. Today it crashed the 2nd one for less than an hour unexpectedly. If it crashes again, it is likely to try to crash the 3rd one and then a bearish outlook will come for USD.
Dollar Index: Multi month high continues to hold..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 remained largely contained but the upward thrust seen in July has now generated a new wave of bullishness. It is obvious that the Dollar bulls are quite dominant and now , are beginning to push ahead. With the currency basket sustaining higher levels it could set off moves across different asset classes in the near term. Immediate supports continue to be around 97 while the upside could test its previous highs in the next few months. A breakout or a failure to do that would both be equally important technical events at this juncture.
DXY ANALYSIS DAILY FRAME. IMPORTANT MOVEMENTS ARE COMING...??DXY ANALYSIS DAILY FRAME.
FIBBO CHANNEL.
REMEBER TO TAKE IN NEWS IN ACCOUNT.
IMPORTANT MOVEMENTS ARE COMING...??
DXY LONG AND SHORT IN WEEKDXY LONG AND SHORT IN WEEK.
BE CAREFULL THERE IS A LOT OF NEWS COMING.
MARKET CAN MOVE DIFFERENT DUE TO THE NEWS COMING.
USDINR : Feeble signs of strengtheningThe daily chart shows that the trends continue to be in favour of the INR as the prices have been unable to move beyond the median line of the Pitchfork. Despite the strong strengthening of the Dollar the INR seems to be holding to its gains. Will it translate into some benefit for the Indian equity markets is something that will transpire tin the coming weeks.
Idea Sourced From
Neo Trader
trade.chartadvise.com
[IDEA] Short USDINR + DXYLeveraging a decently positive correlation between USDINR & DXY.
Working on the trading strat.
DXY on a Roller Coaster RideDollar 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 DITCH you..
USD Bullish soon!What i see, DXY it retracing for the next BIg move.
So i feel best time to enter SELL on XAUUSD at 1224-1226
USDCAD BUY
AUDUSD SELL
NZDUSD SELL
EURUSD SELL
GBPUSD SELL
DXY weekly clean and simpleDXY exhausted right now, after pullback expecting a sharp rally toward the 100 mark
GBPNZD Last Kiss TradeWe'll be longing on this pair till next weekly resistance level as it has beautifully retested the Consolidation box. Looks Solid till next Resistance.
If you find this technical Useful then like and comment ;)
US Dollar INDEX studyUS Dollar INDEX study - This is in addition to the weekly chart study I published on July 30 (Link given below)
Dollar Index study - DXY pullback and possible directionDollar Index study - DXY pullback and possible direction
Contra Trade: Short the Dollar Index at CMP 92.7, SL93.5 ,TGT 91So 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 cool down further.
DXY will turn into bullish if head and shoulder bottom formedYou can see two head&shoulder in the chart. For the frist pattern, it's the beginning bearlish trend of DXY.
Now, the price is out of the decline channnel,it means that the decline trend has already change ! And the MACD is above the 0 zone.
If the head&shoulder bottom is formed ( it has not been formed yet!), the trend of USD will competely change! 94.25 will be the key point!
