DX.F trade ideas
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 ?
Dollar Index - Trend is Reversed ?Hello Friends,
Here, I have plotted Dollar Index in daily time frame with RSI . Apart from I have drawn sliding parallel channel. Since couple of days, Dollar Index is taking support at 101.33 level. Here, I have observed sign of trend reversal.
Anyone can take long position in all forex major currency pairs with own risk management methods.
DXY - FOMC Ahead - What To ExpectTVC:DXY is approaching a key daily structure support
Levels of 103.4 to 103.8, is the zone to focus on
Depending on the reaction of the market to FOMC meeting, one can anticipate 2 potential scenarios to emerge -
1) If price breaks the resistance of a falling wedge pattern on DTF, a bullish move can be expected
2) If price breaks the support of a falling wedge pattern and closes below the green support zone marked, a bearish move can be expected
Everything NOW DEPENDS on the FOMC meeting. My bet is DXY will consolidate here for a while and then rise again for a while before breaking downside since its also make a H&S pattern on weekly timeframe.
Let's see how the story develops. Best wishes!
Disclaimer -
- The opinions expressed here are my own. This is for my own records as well as what I see on charts.
- If you are referring to this, please keep in mind that it is only for educational and research purposes.
- Past performance is no guarantee of future results.
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- Before investing, conduct your own research and consult with a financial advisor.
TIA!
U.S Dollar currency Index U.S Dollar currency Index:-It form H&S pattern on monthly chart. It may start to correction from here.
US 10 yrs Govt Bond Yield:-It is near major resistance 4.13%.It may start to correction from here.
Nifty has inverse relations with above both, so it may start to bounce from major support level. Nifty major Support level 17122-17099
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 ✅
What's next on dxy?DXY is fundamentally strong now,
Gdp growth increases
unemploy. decreases
cot data remain neutral
infl rate decreases so that fall happen.
smart money traders take long postion.
Major trend Uptrend
Minor trend Downtrend.
Selling pressure is high
risk for buying..
short term downtrend expecting..
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 ✅
HIGHER HIGH HIGHER LOWDXY is making higher high and higher low on monthly chart. It has bounced exactly from last swing resistance. If it holds 102 on monthly closing basis then 120-122 is feasible in coming 6-9 months. Not good for equity and commodities. Pressure will be on countries highly dependent on import. Break of Feb month's high will be first confirmation that bottom in DXY has been formed.
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 ✅