The daily chart of the dollar index has formed a Full Elliot Wave.
It is due for a correctio n in the form of ABC Wave.
Also there is a possible double top pattern forming in the counter.
The pair has also formed a evening sta r pattern in the candlestick.
So as per the above analysis,we can expect a strong a downside in the Dollar index.
The 4 hour chart of DXY shows sideways movements and double top pattern
With engulfing candle formed selling pressure intensifies further more here after
Short until reaching the expected targets respectively.
The 15-minute chart of Dollar Index is currently is downtrend and formed a Elliott Wave as indicated by us in the chart.
The 5th wave has almost completed its rally and we expect the counter to form a corrective ABC wave.
It is also in the strong support zone and so we can expect the dollar index to be bullish up to the corrective wave pattern C
which may...
The daily chart of Dollar index has formed a cup and handle pattern.
Although, it’s a continuation pattern many analysts now use it to predict a trend reversal also.
It has also formed a handle by taking a retracement of 25%.
As per our analysis, we expect a major bullish move in the counter if the index can sustain above the value of 95.03 .
On the contrary,if...
It will touch 92.55 and once a confirmation breakout happens, then it will be a trendline movement. Big bearish engulfing candle pops up in this chart and no price action happens until now.
IMPORTANT : Since this week all USD pairs are in major support/resistance, be careful. Don't enter so early.
It seems DXY at strong resistance now if breached this resistance, then it can reach the value @ 94.81
If it does not, then dxy value may down to 93.75
So Dollar Index has met with its old friend - a downtrendline - after a long time. We can expect an interim fall in the index from current levels of 92.7 to levels of around 91.
Its a contra position to market sentiments, hence extreme caution is adviced, however the gains will be sweet!
The RSI is also dropping from overbought levels to 68 levels, look poised to...
Failed to break 7/8 Murrey trading line it could retest 4/8 and then 2/8 murrey trading line
Twezzer candle in daily time frame so sell now today DXY should down in NFP newsrelease
DXY breached the resistance and going up now...! It will starts making a new higher highs in the coming days by forming a bullish channel
It may cause many pair's breakout herafter
As expected, DXY continued to gain strength and move south on the chart. DXY stands at the moment at 89.70 area and is heading for 90.50 move. DXY strength may be temporary, as a retracement of the longer term downtrend, and if DXY reaches levels of 90.50 but does not manage to break above this structure, we may expect a stronger move downwards.
