Dollar Index is forming a bullish butterfly harmonic pattern on the weekly timeframe. This could lead to a correction in the markets. Hedging is advisable. 116 levels can be seen.
- Dxy currently looks bullish
- I am waiting for a retracement if not we can see DXY mitigate its overhead supply
- DXY can take out some more bullish momentum post that we can see some downfall.
- We are in a mid-range don't trade aggressively.
On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early...
TVC:DXY The inverted head and shoulders is a technical chart pattern that signals a potential trend reversal from a downward trend to an upward trend in the price of a security or asset. The pattern resembles the shape of a person's head and two shoulders in an inverted position, with three consistent lows and peaks.
Do you see it coming? What comes next after Z in the English Alphabet? Think about it. Even if you say A, you can count to ABC. So, three waves higher is a minimum for the dollar. But I think maybe there are bigger things happening here, like a third wave. Let the price action confirm.
Go through the analysis carefully, and do trade accordingly.
Anup 'BIAS for the day (28-12-2023)
NA
DXY making the 5th wave as per EWT and it needs a strong support.
So, wait until it reach strong support I marked in the chart
Best of luck
Never risk 2% of principal to follow any position.
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What will happen if the DXY cannot hold @ the $1.00 value? Will it fall? If it does, where will the value fall to?
All expenses are on the rise, squeezing as many dollars from the economy as possible.
2021 was the 13th Shemitah (7year cycle) since 1930
2028 will be the 13th Shemitah since 1937, or 98 years (almost 100)
1930 and 1937 were plagued with banking...
The dollar index closed the year down 2%, the first yearly decline since 2020 after gaining about 15% over the previous two years as traders piled on bets that the Federal Reserve could start cutting interest rates as soon as March next year. After implementing an aggressive rate-hiking cycle that started in early 2022, the US central bank is now expected to begin...
Trade Idea:
📍 Entry: 🎯 Target: ⛔ Stop Loss: (MARKED IN CHART)
💡 RISK REWARD 1 : 3 ,5 ,10
💰 Risk 1% of your trading capital.
⚠️ Markets can be unpredictable; research before trading.Disclaimer: This trade idea is based on Elliott Wave analysis and is for informational purposes only. Trading involves risks; seek professional advice before making any financial...
DXY has reached a very strong resistance level which is an overlap resistance
And also lines up with the 38.2% Fibonacci retracement
I think a rejection from this level might lead the price to drop to the swing
Low support
I'm bearish biased.
Hey traders, here is the analysis for the DXY. If you guys like my analysis please hit like👍 and follow. Thanks. DISCLAIMER:- This is not financial advice.
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.
Hello 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...
DXY is dropping for 1 week now and completed 3 levels to the upside. Importantly its aligned with XAUCAD , EURUSD, NZDUSD for mark down cycle. We are also getting good volume to the downside and divergences
