DX.F trade ideas
IS DOLLAR (DXY) ABOUT TO CRASH?? | WEEKLY DOLLAR UPDATE DXY or the Dollar Index, the index to measure the strength of Dollar is considered to be the king of all charts, as most of the financial instruments are very much correlated to the DXY.
Not just forex markets but stocks, cryptos and even commodities are correlated to the Dollar.
If DXY Falls-> Cryptos, Stocks, Commodities, Precious Metals and some Forex pairs like EUR/USD, GBP/USD, AUD/USD, NZD/USD rises. However, pairs like USD/CHF, USD/JPY and USD/CAD falls.
Similarly, If DXY Rises-> Cryptos, Stocks, Commodities and some Forex pairs like EUR/USD, GBP/USD, AUD/USD, NZD/USD falls. However, pairs like USD/CHF, USD/JPY and USD/CAD rises.
So it becomes very important for any trader either Technical, Or Fundamental to keep a close eye on the DXY.
If DXY is in uptrend, the above mentioned instruments may be in downtrend. Conversely, if DXY is in downtrend, others may be in uptrend.
This is a general observation and not an exact rule to be followed. Exceptions are always there as Financial Markets are impacted by a number of factors.
I will be posting a detailed post about why DXY is so important for any trader, so keep following.
BELOW IS THE ANALYSIS
WEEKLY ANALYSIS
Weekly support range= 101.6-100.8
On WEEKLY TIMEFRAME ,price is sitting at support area. Untill and unless the support is not broken, there are chances that price might reverse and bounce from support.
However, if weekly price closes below the support, that can lead to a further long term downtrend in Dollar.
Also, price action is forming a HEAD AND SHOULDER PATTERN, which is typically a bearish reversal pattern. Once, weekly candle closes below the support range, the pattern is completed and activated. That may signify a long term downtrend in Dollar which means long term uptrend in STOCKS, CRYPTOS , PRECIOUS METALS, and some FOREXpairs.
However, further confirmations are also required and just one weekly candle closing below the support is not enough.
DAILY ANALYSIS
The price is making continuous LOWER HIGHS to the support signifying that any bounce from the support is not strong enough and is hence rejected by sellers.
Lower highs into the support area is considered to be Bearish and increases the probability of breakdown of support.
However, since the price is sitting at the confluence of Daily plus Weekly support, a daily close would not be sufficient and a weekly close is required.
On the flip side, we cannot ignore that price is at Support and may bounce from here as well. If price bounces and make a HIGHER HIGH, then chances of breakdown of support will get drastically low and infact a new uptrend may begin in DXY or the Dollar index (but after some further confirmations)
CONCLUSION
1. If Daily plus weekly candle closes below 100.8- BEARISH
2. If Daily candle closes above 102.5, that would mark a Higher High and an uptrend may begin- BULLISH
3. As long as price is trading between 100.8-102.5- SIDEWAYS/NEUTRAL
Let me know in the comments section if you want me to analyse any other financial instrument.
WARNING:-
ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE
Dolor index near upward breakout Dolor index made double bottom on daily chart. While price was making double bottom... RSI made higher lows & price went in consolidation phase.
Today it is trying to break this consolidation on upward sode.
This week on Gbp vs UsdFX:GBPUSD weekly looks like this heading into the week on dxy spotted tradable internal liquidity at buy-side if they are to run a 2-week back low on $TVC:DXY.
FX:GBPUSD can see a fall trough 2 weeks low that's plenty of potential profit, we know the market always has that we look to move up and down the weekly chart first up then down on FX:GBPUSD
DXY MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied...
Keep trading ❤️
Hustle hard ✅
DXY Correction Long Then ShortDxy has Heavy pressure to fall to 87.00 Before that Some corrections possible the will Fall again
Bounce Possible, RR 1:4.6Price is near support and previously we took support in this zone so expecting bounce from this zone. keep in radar.
Dxy near support zone where demand is highAccording to chart dxy index near resistance zone
Rsi reletively below 30 near over sold
Short term Target near 101.7
DXY MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied...
Keep trading ❤️
Hustle hard ✅
DXY Possibility Upcoming WeekDXY Possibility Upcoming Week As Per Possibility You Can Set A Trade Plan If Price Bearke The Demand Then Next Demand Will Be 99.3145
DXY MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied...
Keep trading ❤️
Hustle hard ✅
Get ready for rocket moveThe script made a double bottom pattern on weekly chart near important support zone.
I am expecting an up move from here onwards.
DXY INDEX cmp 100.83Double bottom pattern formation.
bullish divergence on RSI,,
if levels of double bottom survived,, counter can give sharp upmove,,
Lets see
Star Wars Tie Fighter invading DXYTheres a literal Tie Fighter in the charts. It's not May the 4th yet...
dxy dollor index crucial update for gold silver crudemade xabcd pattern abv 102.25 looks fire 103--104+++ if this happen gold may be cresh soon till 1980-65$ yes very crucial lvl for gold silver crude
DXY MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied...
Keep trading ❤️
Hustle hard ✅
U. S. Dollar Index can test 95 level.Bitcoin breakout is confirming the U. S. Dollar depreciation and look at the USD chart there is forming ABC wave pattern this is the right time to invest in Indian market.
Buy Dollar and Dollar pairsDollar index has taken good support at previous support area indicating more upside. aving eurusd below resistance area it makes safe to buy Dollar long trades now
DXY - Dollar Index DXY - let's track - possibility of making a H&S and if it breaks down ...we may see a good rally in equity market :)
DXY crashing ! WHAT Technical analysis are not enough sometimes, we can't go against the big boys if they don't like it, neither should we if we want to be with the wining team. THANKS
Buy Dollars at Support nowDollar is at previous support from where it rallied higher and its clear re test of Dollar now. I expect dollar to bounce from here since US equity started profit booking and its correction more now. And higher Crude means additional need for dollars to buy Oil each day. still now majority of countries still use dollars to buy oil right ?
