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DXY Ready to Soar?📈 DXY Analysis & Forecast (US Dollar Index) 🚀 Current Structure: The DXY appears to be in the middle of an impulsive wave sequence based on Elliott Wave theory, currently moving within the 4th wave correction phase. The overall structure shows a clear upward trend, supported by a rising trendline that has consistently held as support. We can observe a potential breakout setup, with a contracting triangle pattern indicating a breakout to the upside. Key Technical Points: Wave Count Analysis: 🌀 Wave (1) initiated a strong bullish move after breaking out of the downward channel. 🔄 Wave (2) saw a retracement, respecting the previous resistance level that turned into support. 🚀 Wave (3) was an impulsive rally, taking the DXY to new highs and confirming bullish momentum. 📉 Wave (4) is forming a consolidation, resembling a bullish pennant pattern, indicating a continuation of the uptrend. Key Support & Resistance Levels: Support: The price is currently holding above the key support zone at 106.20, which aligns with the trendline. Resistance: The next target for the bulls would be the previous swing high at 107.40, which is the completion zone for Wave (5). Indicators & Patterns: 📊 The ascending trendline continues to support the bullish bias. 🔼 A breakout above the 106.80 - 107.00 range could trigger a push towards the 107.40 level. ⚡ Watch for potential fake-outs; a break below 106.20 may invalidate the bullish scenario. 📅 Forecast: The DXY is poised for an upward move as long as the 106.20 support holds. If the breakout above 106.80 is confirmed, we could see the DXY reaching the 107.40 mark, completing the 5th wave of the current bullish cycle. A decisive close above 107.40 might lead to further gains, potentially aiming for the 108.00 level. 📊 What are your thoughts on this setup? Are you bullish on the DXY? Drop yourcomment below! 👇 🔗 Follow for more Forex updates and daily trading insights! #DXYAnalysis #ForexSignals #ElliottWave #DollarIndex #ForexTrading #TechnicalAnalysis #USD #ForexCommunity #TradingForecast #MarketUpdate
TVC:DXY
by forexorbit
US DOLLAR INDEX - TRADE IDEA ON SHORT SIDESymbol - DXY DXY is currently trading at 105.57 My reversal setup has formed in DXY & I'm seeing a trading opportunity on sell side. Shorting DXY at CMP 105.57 I will add more position if 106.00 comes & will hold with SL 106.30 Targets I'm expecting are 104.75 - 104.30 - 103.73 & below. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
TVC:DXYShort
by akshit_official
DXY - TRADE OPPORTUNITY ON SHORT SIDESymbol - DXY DXY is currently trading at 104.72 My reversal setup has formed in DXY & I'm seeing a trading opportunity on sell side. Shorting DXY at CMP 104.72 I will add more position if 104.45 comes & will hold with SL 104.75 Targets I'm expecting are 103.25 - 102.75 - 102.15 Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
TVC:DXYShort
by akshit_official
DXY Analysis: Bearish Trend Signals Potential Drop📊 DXY Analysis (2H Chart) 🧐 The U.S. Dollar Index is currently in a consolidation phase around the 104.50 level after a sharp drop from the recent highs. Let’s break down what the technicals are signaling: 1. Bearish Structure 📉: • The index has been trading within a descending channel, which indicates a prevailing bearish trend. • A significant Cross Doji candle at the top hints at a potential reversal, followed by strong bearish momentum. 2. Key Levels to Watch 🔍: • Resistance Zone: The DXY is consolidating below the 104.60 level, which is acting as a key resistance. Multiple rejections around this area could signify strong selling pressure. • Support Zone: The next major support lies around the 103.60 level, aligning with the lower boundary of the channel. 3. EMA Dynamic Resistance 💡: • The 50-period EMA (green line) is currently acting as a dynamic resistance. A sustained move below this EMA can add further downside pressure. 4. Potential Scenario 🔮: • If the DXY fails to break above the 104.60 resistance, we could see a drop towards the 104.00 level initially. • A break below the 104.00 support might accelerate the move toward the 103.60 zone, completing the bearish leg. 📉 Bearish Outlook: Unless we see a breakout above the consolidation zone and a close above the descending channel, the bias remains bearish for the DXY in the short term. 🔗 Follow for more daily updates on forex market analysis! #DXY #DollarIndex #ForexAnalysis #TechnicalAnalysis #USD #TradingSignals #ForexTrading #ForexTrader #PriceAction #TradingStrategy #ForexMarket #USDIndex #CurrencyTrading #MarketAnalysis #TradingView #ForexLife #FinancialMarkets #DayTrading #SwingTrading #ForexCommunity #TraderLife #ChartAnalysis #TradingPsychology #Investing #ForexTips #TradingSetups
TVC:DXY
by forexorbit
DXY gearing up for a big fallDate: 30 Oct’24 Symbol: DXY Timeframe: Weekly US Dollar Currency Index currently seems to be in final stages of Wave (e) of B. One more leg up and DXY will be ready to head lower sharply and in a big way. It is likely to head towards 90 and lower. This also means with DXY treading lower, Nifty is likely to witness an up move. This is not a trade recommendation. Please do your own analysis. US Dollar Currency Index vartamaan mein Wave B (e) ke antim charan mein lagta hai. Ek aur pair upar aur DXY teji se aur bade paimaane par neeche jaane ke lie taiyaar hoga. Iske 90 aur usase kam kee or badhane kee sambhaavana hai. Iska matalab yah bhee hai ki DXY ke nichale star par chalane se Nifty mein teji dekhne ko mil sakti hai. Yah koi trade karne ki salah nahin hai. Kripya apana vishleshan khud karen.
TVC:DXYShort
by DhandhaPaani
1
The Great Debate: Which PD Array is the Best?There’s been an ongoing debate across social media platforms about which PD array is the best in the PD Arrays matrix. Influencers have taken sides, with some giving more attention to certain arrays, claiming they’ve mastered it better than others. You’ve probably seen posts like "OB > FVG" or "FVG > everything" floating around. But let’s be real here, the names behind these claims aren’t worth mentioning, because it only adds more attention to those chasing the hype. The real credit belongs to ICT, the mind behind these concepts. So let’s redirect our focus to where it belongs. Which PD Array Is Actually the Best? Take a good look at the PD Array matrix again. Now, if you truly understand the PD array matrix, you wouldn’t be asking, “Which is the best?” The answer is literally in front of you. Here’s a little tip: The arrays are listed in a specific order, and that order is crucial. They’re designed to form in the sequence you see in the matrix. Food for Thought Instead of me flat-out telling you which PD array is the top dog, let’s do a little mental exercise that will help you figure it out yourself. Ready? Imagine you're a market maker. You’re getting ready to enter a short position, and naturally, you're greedy. You want maximum returns as quickly as possible. The question is: Which premium array would you pick for placing your orders in the most efficient way, ensuring you make the most money in the shortest time? Think about it. The answer should be obvious now. Got it? Perfect. Now you know which PD array might have the edge over others. It’s not about someone else telling you - it’s about understanding the logic behind how they work and how they fit into the bigger picture. Final Thoughts Thank you for taking the time to dive into this topic with me. I hope this post got your mind working in the right direction. And remember, understanding the PD Array matrix is more important than chasing whatever’s trending online. The more you think critically about these concepts, the better your trading decisions will be. See you again soon with another post filled with more valuable insights!
CAPITALCOM:DXYEducation
by Vulnerable_human_x
"Update on the upcoming before the Fed - interest rate cutsMany people have asked me about my view on how the Fed's interest rate cuts will impact the market. I have a few thoughts on this, but please note that these are just my personal opinions and should not be considered as trading recommendations! In the chart, I’m displaying two lines: - Red: Federal Funds Rate - Blue: Unemployment Rate If you look back at history, each time the Fed cuts rates, it typically coincides with economic troubles, although the signs may not be immediately apparent in the early stages. Initially, Powell’s objective was to combat inflation and achieve a soft landing, but in his most recent speeches, the focus has shifted to stabilizing the economy. This indicates a change in the Fed's assessment of the economic situation, which concerns me as it suggests that we could be heading towards a recession. History supports this perspective, as the unemployment rate is one of the clearest indicators of recession. Other accompanying metrics, such as GDP, also matter, but during this period, the CPI holds less value for assessing the economic landscape. In my opinion, it’s just a matter of when the recession will occur. We’ll need to wait for a few key indicators over the next two to three months. This article is meant for everyone to evaluate the current economic situation. The next article will update on asset classes like Gold, BTC, and stocks, and how they might perform during a recession." Let me know if you need further assistance!
TVC:DXYShort
by Finn_Rm3x
Dollar IndexHello and welcome to this analysis With FED all set to start the rate cut cycle from today's FOMC meet, DXY is expected to enter the potential reversal zone (PRZ) of not one but two bullish Harmonic patterns, namely, bullish AB=CD and bullish Crab, likely forming a triple bottom in the weekly time frame. The PRZ is between 100 - 99.60 while the patterns would be considered invalid below 99.50, for a possible bounce (if not reversal) till 103. When will it enter the PRZ by? Will depend totally on hawkish/dovish, FED Chairman Jeremy Powell is in his statement today. Regards
TVC:DXY
by Dinesh_C_Nagpal
DXY (US Dollar Index) levelsDXY (US Dollar Index) Support Levels: Fibonacci Level: 92.50 (23.6% Fibonacci retracement of the 2022-2023 rally) Trend Line: 92.20 (the lower end of the ascending trend channel) Psychological Level: 92.00 (a significant round number) Resistance Levels: Fibonacci Level: 94.50 (61.8% Fibonacci retracement of the 2022-2023 rally) Trend Line: 94.80 (the upper end of the ascending trend channel) Psychological Level: 95.00 (another significant round number)
TVC:DXYLong
by EmpireCrown
Dollar weakness continuesDXY CMP 100.939 Elliott- thats a zig zag corrective pattern. The C leg which is very fast and steep is underway. Fibs- Two tgts one at 96 and the other at 93. We will look at our indicators at these zones for reversal. Channel - The lower support channel is around the 93 fib support. MA-the longer Ma support is around the 93 /89 zone. So that zone is a high prob reveral zone. Conclusion - weakness in dollar means good for the emerging equity mkts. Good for commodities and of course precious metals. So focus on them.
TVC:DXYShort
by singh17vivek
DXYDXY cmp 101.759 this is a monthly chart of DXY, looking at the chart , this is the wave counts comes to me.. DXY have completed its 5 waves, wave A and most probably wave B and is ready to move towards the down targets as marked with green line... those are targets 1 and 2 ... if this wave B is not over... it can move up towards upward target marked by red line ..(that is if at all wave B is not completed), and after completing wave B , it would go and touch downward levels.. ONLY and ONLY after that I believe.. we would resume up trend ... Just a View! Vedng!! Disclaimer: Chart is for study purpose only!!!
TVC:DXY
by VedangsStudy