dxy monthly and weekly looks bearish, indicating an end to a 16 months up-trending chart. This could mean a great year for cryptocurrency and /usd pairs ( posted a swing gu chart analysis earlier )
i'll be taking most trades in confluence with my macro bias for dxy hence mostly playing longs on crypto and /usd pairs in forex from now unless my idea (as pictured)...
If the dollar breaks the weekly support, EUROUSD will be very bulish in the near future as it has already broken weekly suply zone.
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TVC: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.
Beautiful breakout above 92 as shown the related chart below...
right now in bullish territory...
Important levels marked for next week.
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The U.S. dollar index (USDX) is a measure of the value of the U.S. dollar relative to a basket of foreign currencies. The USDX was established by the U.S. Federal Reserve in 1973 after the dissolution of the Bretton Woods Agreement. It is now maintained by ICE Data Indices, a subsidiary of the Intercontinental Exchange (ICE).
The index is currently calculated by...
Beautiful uptrend..
So what next...
Some retracement and continue the journey upward... ?
Important levels marked...
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DXY ANALYSIS
It has retracted to its Fibonnacci Level 0.5 (106.17) where it actes as a support and bounced back to its 0.382 (106.84) level which acted as resistance for now.
Further drop is expected to 0.618(105.5) level before another pull up towards 1.618 (112.5 ) LEVELS
THIS IS JUST A VIEW. DO YOUR OWN RESEARCH BEFORE DOING TRADE WITH PROPER RISK...
US Dollar Index in 20-year peaks
The index extends the optimism seen at the beginning of the week and trade beyond the 108.00 mark for the first time since October 2002, always underpinned by the unabated sell-off in the euro.
The move higher in the dollar comes on the back of diminishing US yields, as recession concerns seem to prompt investors to seek shelter...
My prediction is in snapshot. Whenever price breaks the wedge pattern. It reaches 26-70% range. So as of now the dollar is strong and will reach upto 123 and beyond.
Monthly orderflow remains bullish, we have monthly accumulation, buyers are still in control in HTF. untill and unless i don't see any distribution on HTF, DXY isn't falling (according to me)
The US Dollar Index, DXY, is bouncing off its 50SMA (red) on the daily chart. This looks like a sign of strength in the US Dollar as it seems folks are buying this dip and a successful bounce on 50SMA can take the price back to previous highs of 105 on the DXY.
DXY perfect text book bearish deep crab pattern fromation
photo finish reversal
rising contracting wedge formation
bearish divergence on rsi
ready for 94.55,, 93.2,, 91.75
Hello traders, Dollar Index ( DXY ) in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
In the wave count that was performed at higher times, a progressive trend was formed and from this trend, waves 4 and 5 remain.
Wave 4 was originally intended as a flat, but wave c , which we have...
DXY spot cmp 95.704
CIP levels of resistance
Parallel channel resistance levels
multiple harmonic pattern maturity resistance
RSI divergence
All study indicate resistance at current levels..
time for reversal...
