USDX trade ideas
DXY how beautifully reached symmetrical traingle targetJust to put in a prospective, following traditional technical analysis can lead to good trades and necessarily no need to trade every other day. It is question to be asked if fundamental make the technical or fundamental can be predicted by the technical. Nevertheless it is always to good to have both technical and fundamental knowledge in your trading arsenal.
Dollar Index WDollar Index has been witnessing a freefall and the fall beyond critical supports around 94.30 mentioned in the last issue lead the DX lower. Currently, the U.S. currency's performance against the euro and five other currencies, hit its lowest level since May 3, 2016. The sharp weakness not witnessed since the period of January to July 1986 is driven by disappointing economic data, political uncertainty and positive developments abroad have sent the U.S. dollar lower despite two rate hikes by the Federal Reserve. The recent selling seems to be overdone and hence a stronger U.S. dollar rebound from current levels are expected by year-end 2017.
Dollar Index (DXY) MonthlyThe Dollar however continues to remain under pressure as the Trump’s administration reveals the involvement of Russia in last years election campaign. The impact of such admission on the Dollar remains yet to be seen while Federal Reserve continues to maintain a hawkish stance. Central banks around the globe seem to be either removing their accommodation or talking about removing their accommodation, except for the BOJ. The current situation seems pushing the Dollar into a great deal of uncertainty. Will it breach important supports of 94.30, only time will tell.
DXY TNX spreadThe USD would ususally move according to the USD strength i.e. DXY.
Lately, it hasn't been the case.
There could be multiple theories around it..from fundamental to political to technical.
I am wondering what gives!
One plausible explanation is may be the Fed policy has gone beyond what's needed. But then again, it's pretty much set in stone now!
Is it a coincidence that this is happening around G20 and North Korea missile launch?
Or may be Fed has something to do with it? But then again..Fed is never really out of the news. They are taking backseat most in last 10 years though. And it's good.
So what gives? Is it Trump? He alienated Yellen and now she has made sure that the policy won't change even if she is removed.
That fiscal stimulus better be coming soon.
Dollar index 31-may-2017Dollar index currently moving near about 97.43, there is strong support in 4 hour chart, and 97.50 is a resistance in small time frames 1 hour, if if breaks 97.50, go higher. now it's not showing clear direction
USD Index, Nifty and S&P500 A small comparative study of USD Index, Nifty and S&P500.
Both Nifty and S&P500 outperforms during a jump in USD Index
DXY: LONGDXY: LONG
E: 99.56
SL: 99.46
TP1: 99.8
TP2: 100.01
market broke prior resistance level (change of polarity).
market made hit major demand level where price have difficulty making new lows.
price volume is increasing as it goes up to my take profit levels.
0.618 retracement is used for target 2 which is at the break of the previous resistance level (change of polarity) and 0.382 is used for target 1.
note: I am not an expert as yet, this is only my opinion.
strength in dollar indexdollar index is on the verge of breakout , strength against all currencies has been observed which suggest we can see a significant retracement in usdinr chart (weak inr ).if we correlate things and sumup we might see a correction in nifty so trade cautiously with strict sl.
Down Move coming on DXY?My projection for the DXY on the hourly chart:
Expecting the DXY to go down from the current levels i.e. 101.48 or from 101.57
It can go down till 100.63, retrace back a little from there and then head down to 100.08 zones.
Strong resistance at top with the completion of a ABCD Pattern & Bearish Butterfly pattern along the same zone.
But, CPI and Yellen testament tonight might invalidate my view.
watch watch my call target achive buy given rate is 100.15watch watch my call target achive buy given rate is 100.15 if any one want to tip in usdinr so comment hare
Dollar history case studyIts amazing experience to look at Dollar on monthly chart( its first time i looked Monthly chart on Dollar).
All time high of 162
Resistance level 102, 120
Support level :100 ( great physiological No). but i think it will dive below that and hunt for stoploss.
next support level will be 92
lower DXYas we can see the bearish divergence there and bearish engulfing pattern and doji in the overbought condition there this is giving a bearish outlook there
Divergence In Dollar IndexSince Nov 30 dollar index has moved up where as it's 25 day ROC went down. Looking at the chart it seems serious divergence & $ can correct from here against basket of other currencies.
I prefer going long on Euro particular from here.
Divergence in dollar Index.ROC(25 days) shows that up move in the dollar is about to come to an end (at least for next few days) so shorting dollar against Japanese Yen & Euro looks good trade here.
us dollar currency index us dollar currency index have bullish walf wave setup so yellow line take long red line as sl and green line as trg ....
