U.S DOLLAR DXY INDEX Good long candidate.U.S DOLLAR DXY INDEX CMP 90
Falling wedge chart pattern formation.
Elliot wave study.
RSI bullish divergence.
Index is on verge to complete impulse phase of elliot wave,, if corrective wave unfolds good rise can be seen.
Support trend line falling wedge pattern around 90 levels ,,with bullish divergence in RSI ,indicate reversal.
USXUSD trade ideas
U.S DOLLAR DXY INDEX Good long candidate.U.S DOLLAR DXY INDEX CMP 90 LEVELS
Good long candidate at this levels.
Rounding bottom formation on weekly time frame support around 89.8 levels
Rising parallel channel support around 89 levels
View gets negated below 88.7 on closing basis.
Upside can move to levels 94-96-98-100-103.....
Are we on the verge of a US Market drop?Hello.
My name is François Normandeau
Here is an ADX-BRIEFING related to the 10-Year US Treasury Notes .
Currently, on the daily charts ,
all the indicators we are using are mentioning that the US Dollar Index
TVC:DXY
is currently in a confirmed downtrend.
Historically, there is a strong positive correlation between the US Dollar Index and the US Treasury Notes.
if DXY drops, ZN1! drops... if DXY rises, ZN1! rises... relatively speaking and all things being equal.
If anyone is currently keeping a major long position related to the US Bond market,
then this correlation is worth considering.
More details about this post, as well as a video analysis, later today, on our site .
Wishing you a great week,
François Normandeau
Institutional Research Director at ADX-BRIEFING
Relationship between US Dollar Index and Gold Gold is an asset. As such, it has intrinsic value. However, that value can fluctuate over time, sometimes in a volatile fashion. As a rule, when the value of the dollar increases relative to other currencies around the world, the price of gold tends to fall in U.S. dollar terms. It is because gold becomes more expensive in other currencies. As the price of any commodity moves higher, there tend to be fewer buyers, in other words, demand recedes. Conversely, as the value of the U.S. dollar moves lower, gold tends to appreciate as it becomes cheaper in other currencies. Demand tends to increase at lower prices
DXY - Important level of supportPrice after the big indecision candle bears took the control and the price keeps on falling from the top. It was expected to take control from the trend line instead it breaks the trend line and retest to fall further.
Price is on the support level and in the lower time frame price is forming Falling wedge pattern at the important support level and it is expected to break up. Overall market condition is looking bad for the Bulls.
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Dollar IndexThe longer the dollar index takes to break down lower, weekly volatility as measured by the Bollinger bands continues to contract, lowering the odds of an immediate decline. The 1st alternatives for a small bump up as discussed yesterday, however, the 2nd alternate is that a larger wave C bounce, back to the top end of the range near 95 can also take place. The weekly momentum remains in buy mode adding weight to the potential for further consolidation in wave 2 longer-term before wave 3 down can start.
Short for EURUSD type pairs and long for USDCHF type pairs??Hey folks!!
Hope y'all having a good trading week so far!!
Here we have DXY reversing from a major daily support zone. Its a red flag for USD as quote pairs and green flag for USD as base pairs.
Will the Reversal succeed and bring the channel running in EURUSD as well as USDCHF?
I stay bullish on DXY for the next few hours at least.