Dollar weakness aheadDXY CMP 104.087
In continuation of my analysis of CRB Index... I stated that CRB index is bullish and dollar is weak. Here is a chart that shows that the dollar Index is all set to fall.
DXY trade ideas
DXY VERY SOON CHANGE GEARS TOWARDS BUYSIDE LIQUIDTYas per my view in coming weeks DXy will dips in WEEKLY FVG and most probably change gears to take all buysidfe liquidity but a big bearish candlle will form this week from 15th july to19th july clearing all sellside liquidity first .
REVOLVING CREDIT +$7.0 BLN IN MAY FROM APRILUS CONSUMER CREDIT: REVOLVING CREDIT +$7.0 BLN IN MAY FROM APRIL; NONREVOLVING CREDIT +$4.4 BLN IN MAY FROM APRIL.
Nasdaq green, S&P 500 inches up, Dow slips
Tech leads S&P 500 sector gainers; Comm Svcs weakest group
Dollar ~flat; crude, gold off decline; bitcoin ~flat
U.S. 10-Year Treasury yield unchanged at ~4.27%
UBS SAYS PRESIDENT BIDEN NOW HAS 10% CHANCE OF WINNING AND SWEEPING CONGRESS
DXY 1D Timeframe ProjectionDXY 1D Timeframe Projection
DXY - Data Global forecasts say it will decline. Yes, it may, but the dollar is still rising today.
DISCLAIMER: All labelling and wave counts are done by me manually and I will keep changing according to the LIVE MARKET PRICE ACTION. So don't be bias, hope on my trade plans...try to learn, and make your strategy... Following is not that easy...
DOLLAR UP! EURO DOWN!DXY 107.00 Next Target!
The yen dropped to its lowest level since 1986 against the dollar on Wednesday, keeping currency markets alert for any signs of intervention from Japanese authorities to boost the beleaguered currency.
The U.S. dollar
USDJPY
was trading at 160.39 yen, a level last seen in December 1986, as the yawning interest rate gap between the two countries continued to hammer Japan's currency.
Analysts said traders were testing the resolve of Japan's Ministry of Finance and central bank, who spent $62 billion in late April and early May to support the currency when it fell past 160.
"Unless the underlying dynamics change with the yield differential, it keeps getting punished," said Joe Tuckey, head of FX analysis at broker Argentex.
So-called carry trade strategies, where investors borrow in a low-yielding currencies to invest in higher-yielding ones, have become hugely popular as some countries have raised borrowing costs in recent years.
DXY dollar index trading in triangleDXY weekly chart.
wave A completed at 99.57
wave B up in progress and triangle pattern is forming with contraction of range
over a period of time.
Wave B is time consuming and one should wait patiently
for impulse down Wave C
DXY BULLISH FOR A WHILEI see DXY buying to raid the previous high and and liquidity sitting above it. Dollar might be strong against other pairs, after filling the imbalances below the current price.
My Suggestion Though!
DXY Index FOMC predictionAs DXY goes higher, higher will be Inflation Risk!
This MIGHT push DJI and NASDAQ down!
Creating pressure in Indian Index for a day or 2
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.
🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair .
💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Technical Analysis Update: DXY & Bitcoin Price Correlation Technical Analysis Update: DXY & Bitcoin Price Correlation
DXY Overview:
The US Dollar Index (DXY) is currently trading at a pivotal support level of $105. This level is crucial as it has played a major role in dictating the next moves for Bitcoin.
Bitcoin Price Implications:
If DXY Bounces: Should the DXY rebound from the $105 support level, we might see a bearish impact on Bitcoin, potentially driving BTC prices down towards the $50,000 mark.
If DXY Breaks Down: Conversely, if the DXY fails to hold this support and breaks below $105, it could signal a bullish scenario for Bitcoin, with price targets possibly reaching up to $75,000.
What to Watch:
Traders should keep a close eye on the DXY's behavior at the $105 support. A confirmed bounce or breakdown will be pivotal in setting the next direction for BTC prices.
Action Steps:
- Monitor DXY closely for any signs of reversal or continuation patterns at the support level.
- Prepare for potential volatility in BTC prices in response to DXY movements.
Stay Tuned: Follow for more updates.
U.S Dollar index technical analysis Dollar index range between 106.79 to 99.12
I predict for 3 time bottom line
DXY NEXT MOVE ( mild correction) (mid term)(22-04-2024)Go through the analysis carefully, and do trade accordingly.
Current Price- 104.300
Anup 'BIAS for the Period (MID TERM) (22-04-2024)-
If price stay above 105.000 then next target is 106.500 & 107.200
-POSSIBILITY-1
Wait (as geopolitical situation are worsening )
-POSSIBILITY-2
Wait (as geopolitical situation are worsening)
Best of luck
Never risk 2% of principal to follow any position.
Support us by liking and sharing the post.
DXYIt could move upwards to the white trend line 115
Disclaimer:
It's a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises.
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.
🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair .
💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Bad times possibly ????Brent and Dollar near crucial weekly resistance. Any breakout could bring pain for Nifty
DXY NEXT MOVE ( mild correction) (mid term)(05-04-2024)Go through the analysis carefully, and do trade accordingly.
Current Price- 104.300
Anup 'BIAS for the Period (MID TERM) (05-04-2024)-
If price stay above 103.500 then next target is 104.500 & 105.500
-POSSIBILITY-1
Wait (as geopolitical situation are worsening )
-POSSIBILITY-2
Wait (as geopolitical situation are worsening)
Best of luck
Never risk 2% of principal to follow any position.
Support us by liking and sharing the post.
us dollar daily timeframe levels to look aheadCAPITALCOM:DXY is trading in midzone of current dail timeframe buy/sell zone, keep eye on box zones marked at current price level to get an idea about the next possible direction upwards for upside rally on daily timeframe
DXY Technical Analysis - Dollar Index took out Liquidity from its previous swing high and reacted after grabbing Liquidity
- Equal Interim highs are now made and the reaction is bearish as well
- I expect the next two candles to be red or bearish and the price should continue to fall further, anticipating good numbers from the US it's going to be negative for USD and positive for Stocks/Crypto
Wondering where the Dollar is headed next? He're is a hint. Analysis
A five wave decline from 107.34, the high on Oct 03, 2023 to 100.62, the low on Dec 28, 2023.
In Elliott terms, this impulse structure tells us that the movement at the next larger degree of trend is also downwards. Within this impulsive structure, wave (i) is a Leading Diagonal, wave (ii) is a Flat which neatly predicts a Zigzag wave (iv) by guideline of Alternation. Both waves (iii) and (v) are extensions. The impulsive decline holds well within the parallel trend channel as is often expected.
A five wave move is always followed by a three wave corrective pullback or variation thereof, irregardless of degree; in this case, a rally wave ((ii)).
To where? The Elliott wave guideline on the depth of corrective waves suggests that price action should ideally end within the span of travel of the previous fourth wave of one lesser degree.
Second, the ensuing correction, wave (ii) is unfolding as a sharp Double Zigzag correction labelled (w)-(x)-(y) with waves (w) and (x) completed, wave (y) in progress.
In ratio relationships, sharp corrections tend more frequently to retrace 61.8% of the previous wave particularly when they occur as wave (ii) of an Impulse or wave (b) in a larger Zigzag.
Also, the actionary waves in a Double Zigzag correction namely waves (w) and (y) are often related by equality or Fibonacci (0.618) in time or amplitude.
wave (y) = 0.618 X (w) at 104.87; this level falls neatly within the previous guidelines.
Thus, the cluster of evidence suggest the rally is nearing its end and a reversal is onset; a third wave.
Trade Plan
1) Conservative Approach
Entry: Short at 104.879; the 0.618 retracement.
Protective Stop: 107.34; in an Impulse wave (ii) CAN NEVER retrace more than 100% of wave (i).
Target: 10.87 decline; in an impulse the third wave commonly travels 1.618 times the loss of
the first, as in:
wave ((i)) = -6.72 (100.62-107.34),
wave ((iii))= 1.618 X (-6.72) equals (-10.87)
Risk-Reward: 1:3
2) Aggressive Approach
Requires price action to break below a recent swing low; wave b of a Zigzag, that will virtually suggest the rally has ended and a reversal was underway.
Entry: Break below 103.89
Protective Stop: Recent swing high
Targets: Below 100.62
Risk-Reward: Greater than 1:3
NOTE: Stay tuned to get follow-up adjustments to stops as we monitor the move through completion.
DXY NEXT MOVE (Expecting a mild correction)(mid term)(27-03-2024Go through the analysis carefully, and do trade accordingly.
Current Price- 104.300
Anup 'BIAS for the Period (MID TERM) (27-03-2024)-
If price stay below 105.00 then next target is 103.800 & 103.400
-POSSIBILITY-1
Wait (as geopolitical situation are worsening )
-POSSIBILITY-2
Wait (as geopolitical situation are worsening)
Best of luck
Never risk 2% of principal to follow any position.
Support us by liking and sharing the post.
DXY next week overview - !06.500 or !03.800 ???the upcoming week ahead bring alot of volatility have days with events and major ones
Recap -
the previous week was more based on sharp turns that has tested important level and broken important level
but left behind some imbalance that given a strong sign or outperformance by DXY
What to Expect - 104.300 the price breakout now the upside potential liquidity would be 105
and there after we have higher time frame (M, W) bearish order block
but the price with big bars has left behind some fair value area
which might holding some good liquidity to fuel if the price expect the upside momentum
Key Area -
keep eye on 103.700 > 103.400 > 102.850
conclusion try to buy with limit order on key area rather than going short
