DXY DXY: back above the trend line and testing the resistance at 99.64 even as cracks in the labour market increased the pricing in of a rate cut in Dec. above 99.64, target is the wall at 100.25; below 99.64, supports are at 99.20 & 99.00; yields traded flat. Yen underperformed the most amongst the majors. Buy on dips.
DXY DXY: continues to struggle to get past the trend line. US yields climbed, but so did yields of other major economies; is there a safe haven trade possible for the USD? I personally believe that it would take an absolute disaster level incident for any safe haven asset to be activated. Anyways, structure for the DXY is a low conviction buy on dips; resistance at the trend line & then at 99.64; supports are at 99.20 & 99.00
DXY DXY: Noise Aside, the index found support at the pivot at 99.20; not before testing the key 99.00; dollars struggles are far from over; the reopening of the govt brings its own challenges and the repo markets are still a concern. Buy on dips- not high conviction yet; resistance at 99.64 & supports are at 99.00 & 99.20
DXY DXY: made another attempt to get past 99.64 and again failed; we will not get the US CPI nos this week; only Euro has held off well against the USD with Yen being the weakest amongst the index constituents; no US data today; Fed’s Daly speaks today; Bostic was hawkish yesterday, but didn’t matter as he is retiring & won’t vote next meeting; buy on dips; resistance at 98.64 & support at 99.20
DXY DXY: The USD fell below 99.64 to a low of 99.30, but managed to recoup some of its losses. So buy the dips is intact for now though it’s not high conviction; resistance at 99.64 & support at 99.20; focus on Fedspeak today. The govt shutdown euphoria has bypassed the USD as concerns on the job market from the recent ADP data puts pressure. Buy on dips
DXY DXY: again found support at the 50 WMA and now trades above the support at 99.64; this was mostly helped along by yen weakness; next resistance is 100.25 which has been impregnable so far and like I suggested earlier- is very key; supports at 99.64 & 99.20;
DXY DXY; weekly; a week where the USD tried to break past 100.25 and failed. When you zoom out and look at a 5y timeframe, you will realise how key 100.25 has been. A KEY pivot right from 2020; so, resistance now at 99.64 & 100.25; supports at 99.20 & 99.00; few fed speakers & US CPI this week; buy on dips
DXY DXY: If you want to know why the USD reversed from the levels in this chart, you just have to go back to my chart from this Monday- weekly resistance; 100.25 hold firm; a break of this will open up 100.57; IF it breaks; supports at 99.64 & 99.20; Michigan consumer sentiment nos today will be keenly watched.
DXY The U.S. Dollar Index is currently consolidating around ~98.9 with a slight down-tilt in its medium-term trend. While it retains the potential to strengthen, major headwinds are present: expectations of rate cuts, structural fiscal risks, and weakened confidence. Unless U.S. data and policy shift strongly hawkish, the lean appears slightly bearish to neutral for the dollar in the coming months. A break below key support (~95–96) could usher in the bearish dollar scenario; conversely, a surge above ~100.5 would revive the bullish dollar thesis.
DXY DXY: when you look at the weekly, you will understand how key the resistance at 99.00 is; every attempt to break above this has failed in the past 2 months or so; on the weekly, the structure is not very bullish, whereas on the daily it’s been a buy on dips; a break above 99.00- 99.64 & then a weekly close above 100.25 will open up a big bullish phase for DXY; only IF; support at 98.20
DXY DXY: back above the trend line and testing the resistance at 99.64 even as cracks in the labour market increased the pricing in of a rate cut in Dec. above 99.64, target is the wall at 100.25; below 99.64, supports are at 99.20 & 99.00; yields traded flat. Yen underperformed the most amongst the majors. Buy on dips.