DXY - 4h - NEW UPDATEDXY - 4h - NEW UPDATE
Nothing bearish for now on 4h.
Testing resistance zone now.
Dxyforecast
US dollar index fluctuates and rises
Although the US dollar index will temporarily come under pressure at the central axis of 104.2 today, this central axis cannot be suppressed. There is a high probability that it will break upward and test the pressure position of 104.5-105; keep the slow bull trend moving upward! Therefore, yesterday’s transaction was also a huge profit! Those who were long in the US and Japan, and short in the Euro and British Pounds, all made a lot of profits!
U.S. dollar index: 1: The golden cross of the stochastic indicator of daily K is upward, which is the main bull signal; it is recommended to remain bullish; in terms of form, the continuous positive trend is upward; the central axis support position is around 103.6; in the short term, the bullish rise continues; 2:4 During the hour, the stochastic indicator is temporarily in a passive state, with a slow bullish upward trend; the support position is around 103.6;
To sum up: the short-term trend remains bullish during the day, and it is recommended to continue to choose to go long on dips. At the same time, it is bullish on the United States and Japan, bearish on the euro, and bearish on the pound; gold needs specific analysis and treatment;
In terms of data, the Fed is expected to keep interest rates unchanged at around 5%; Powell's attitude is more hawkish
DXY IndexPair : DXY Index
Description :
Bullish Channel as an Corrective Pattern in Short Time Frame
Consolidation Phase
Break of Structure
Completed " 12 " Impulsive Waves
S / R Level
US Dollar Index - Looking To Sell Pullbacks In The Short TermH4 - Bearish trend pattern.
Lower lows.
Currently it looks like a pullback is happening.
Until the two strong resistance zones hold my short term view remains bearish here.
Swing trade shorts for USD index (DXY)A potential swing trade short has presented itself on the daily chart.
DXY failed to closed above 103 and formed an inverted hammer on the daily chart, and its upper wick met resistance at the 38.2% Fibonacci level. Daily trading volumes also declined whilst prices rose gradually, against the prior (and more aggressive) leg lower. This suggest the -day rise is corrective, hence the call for another leg lower.
Bears could fade into rallies within Tuesday's candle with a stop above and target the 102 area, near the 61.8% Fib level and high-volume node.
DXY Dollar Index Technical Analysis and Trade IdeaThe DXY is currently trading within a well-defined monthly sideways trending range. Price action is testing a key support level, indicating a possible retracement towards previous resistance. A bullish break of the current 1D/4H downtrend, followed by a retest and failure of the range, could present a potential buying opportunity.
Disclaimer: This analysis provides a technical perspective and should not be interpreted as direct financial advice. Trading in commodities involves significant risk. Before making any investment decisions, please consult with a qualified financial professional and thoroughly assess your own risk tolerance.
DXY Weekly Analysis "The DXY seems to be retracing from 100.615 to take liquidity at 104.565, and we've observed significant price reactions in the area since Monday, November 13, 23. This suggests that the DXY is currently showing efficiency and may be inclined to move lower towards 99.559.
However, reaching 99.559 might face resistance due to a "shield area," which could potentially cause the DXY to struggle on the downside. It's possible we'll witness the DXY lingering around the red shaded area at 101.910 for a while. If the price breaks below this level swiftly with large downward candles, we anticipate further downward movement towards 99.559. Otherwise, if it fails to break below 101.910, we'll provide an update accordingly."
DXY IndexPair : DXY Index
Description :
Completed " 12345 " Impulsive Waves and " AB " Corrective Waves
Fibonacci Level - 23.80% / 32.80%
Impulse Correction
Rising Wedge as an Corrective Pattern in Short Time Frame
Demand Zone
DXY IndexPair : DXY Index
Description :
Completed Impulsive Waves " 12345 " and " A " Corrective Waves
Break of Structure
Rising Wedge as an Corrective Pattern in Short Time Frame with the Breakout of the Lower Trend Line and Retracement
RSI - Divergence
DXY Likely Scenario Given the time of the year, DXY is likely to keep a small range until FEb.
Possible 104.5 - 105.0 by December END.
Then Sells to begin the year toward 102 - 101.50
Not financial advice.
These are my opinions.
DXY Dollar Index Technical Analysis and Trade IdeaOn the higher time frame, the DXY exhibits a bullish trend, characterized by recent retracement into the 50% level on the Fibonacci. As we delve into lower timeframes, our focus sharpens. Specifically, we are on the lookout for price to form a double bottom setup—a pattern that often signals a potential reversal. This setup involves a break below the previous range lows, followed by a robust rally and, subsequently, a formation of higher lows and highs.
Additionally, we pay close attention to the concept of retest and failure. If price retraces to a key support level and fails to hold, it can indicate a shift in market dynamics. In this case, we’re particularly interested in observing a retest and subsequent failure of a range at support.
However, it’s paramount to acknowledge the inherent risks associated with trading. Always conduct thorough research, considering both fundamental market drivers and the broader macroeconomic landscape. Combine this analysis with your technical insights. Furthermore, implement sound risk management strategies to safeguard your capital.
Disclaimer: This analysis provides a technical perspective on the U.S. Dollar Index (DXY) and should not be construed as investment advice. Tailor your trading decisions to your specific risk
DXY IndexPair : DXY Index
Description :
Rising Wedge as an Corrective Pattern in Short Time Frame with the Breakout of the Lower Trend Line and Retracement
Break of Structure
RSI - Divergence
Completed " 12345 " Impulsive Waves and " A " Corrective Wave
DXY H1 / BULLISH MARKET STRUCTURE SIGNAL => 📈✅ Hello Traders!
This is my idea related to the future movement of DXY H1. As we can see, the market is reacting from the resistance level, and at this moment, I'm looking for a bullish confirmation to execute a long entry. The perfect scenario would be to see a retracement until the OB that I mentioned and after that, to go bullish. In case of confirmation, I will execute this trade.
Traders, if my proposal resonates with you or if you hold a divergent viewpoint regarding this trade, feel free to share your thoughts in the comments. I welcome the opportunity to hear your perspectives.
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DXY at an important crossroadsSince the beginning of the year, the USD Index has risen 5% from its lowest point to its peak. However, trading USD pairs has proven to be quite challenging due to the choppy price action and significant volatility between support and resistance levels.
Upon analyzing the chart, the upward movement appears staggered and resembles a rising wedge pattern. This suggests that it may actually be a correction of the previous leg down from 107 to 100, indicating a potential impending decline.
Confirmation for this hypothesis lies around the 103.80-104 zone. If the price breaks below this level, we should pay close attention to the next support levels, including 103, 102, and the crucial psychological and technical support at 100.
DXY Technical Analysis and Trade IdeaTechnical Outlook:
- The DXY (US Dollar Index) maintains a bullish trajectory within its broader uptrend.
- Recent price action indicates a retracement to a significant daily (1D) support zone.
- This technical setup presents potential buy opportunities in line with the prevailing bullish bias.
Trade Suggestion:
- Entry: Consider long positions upon confirmation of bullish trend shifts on a lower time frame at the current support level.
- Targets: Aim for 105, 105.5, and 106 as price objectives.
- Stop-Loss: Strategically place stop-loss orders below the immediate support to manage risk.
Important Disclaimer:
This analysis reflects my individual market assessment for informational purposes. It does not constitute explicit financial advice. Independent research and comprehensive risk management are crucial before executing any trades.
DXY Dollar Index Technical Analysis and Trade IdeaThe #DXY is currently exhibiting range-bound behavior within a broader bullish trend on higher timeframes. While the overall bias remains positive, current price action does not present a compelling entry point for a long position. My strategy involves two potential scenarios:
1: Breakdown Scenario: A break below the current range support would provide a discounted long entry opportunity.
2: Breakout and Retest Scenario: A decisive break above the range high, followed by a retest and failure of that level as new resistance, would signal a potential long entry.
Key Technical Considerations:
- Trend Analysis: The higher timeframe bullish trend offers context for potential long setups.
- Market Structure: Understanding the current range structure guides entry and exit points.
- Price Action: Closely monitor price behavior around key support and resistance levels for trade signals.
Disclaimer: This analysis is strictly educational and does not constitute financial advice. Always conduct your own independent research and thoroughly evaluate your risk appetite before executing any trades.
DXY IndexPair : DXY Index
Description :
ELLIOT WAVES - " 12345 " Impulsive Waves and " AB " Corrective Waves Completed
Retracement for BREAK OF STRUCTURE
BEARISH CHANNEL as an Corrective Pattern in Short Time Frame with the Breakout of the Upper Trend Line and Retracement
FIBONACCI LEVEL - 61.80%
Divergence in RSI
DXY Dollar Index Technical Analysis and Trade IdeaThe #DXY has been trending upwards, rallying late last week before pulling back. A potential long trade might emerge if the price finds support during this pullback. Higher timeframes show a consistent bullish trend with higher highs and higher lows. We're looking for a buy entry around the 50%-61.8% Fibonacci zone, but remember, trading is risky. This analysis is just my opinion, not financial advice.
DXY Technical Analysis and Trade Idea for Week Beginning 5th FebGiven that the markets are either correlated or inversely correlated with the US dollar, I'm always looking at the DXY dollar index at the beginning of the week to see how it's shaping up. In this chart we can see that the DXY is bullish it has been range bound previously, however we saw quite a strong rally on Friday with the NFP data release. We can now see the break above the range and I'm looking at the retrace for a potential entry point. We can see similar opportunities presenting themselves with the EURUSD the AUDUSD etc. in the video we touch on how the market shaped up prior to the NFP release on Friday and we look at a potential trade opportunity. As always this information is intended for educational purposes only and not to be taken as financial counsel.
DXY Index New Week MovePair : DXY Index
Description :
Impulse Correction Impulse
Breakout the Upper Trend Line of the Corrective Pattern " BULLISH CHANNEL " in Short Time Frame
According to ELLIOT WAVES , It has completed " 12345 " Impulsive Waves and Corrective Waves " AB "
HEAD & SHOULDER as an Corrective Pattern in Long Time Frame
Dollar Index (DXY): Growth Continues 💵
Dollar Index successfully violated a key horizontal resistance
on a 4H time frame after NFP release yesterday.
We may anticipate a further growth now.
Next resistance - 104.14
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DXY: The USD kept its weekly rise ahead of the Fed's decisionThe dollar edged higher in early European trading on Wednesday, heading for its biggest monthly gain since September, while the euro edged lower after weak inflation data.
At 04:45 ET (09:45 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher at 103.352, on track for more than a gain. 2% this month.
Dollar demand has been buoyant this month as traders trimmed expectations for when the Federal Reserve will start cutting interest rates due to strong U.S. economic data and reaction from central banks. naughty.
The greenback was also supported by escalating geopolitical tensions in the Middle East, which have weighed on risk sentiment amid fears of a broader regional conflict.
The US central bank is expected to leave interest rates unchanged, and so the focus will likely be on Fed Chairman Jerome Powell's post-meeting press conference to see if he will signal a cut.
Analysts at ING said: “With US data releases - most recently December JOLTS data showing expanding employment opportunities - there appears to be little reason for the FOMC announcement tonight prompted the market to price in well above the current 130 basis point rate cut this year.” in a note. “This would be a neutral/positive development for the USD.”
There's more labor data to study on Wednesday, in the form of ADP Private Payrolls for January, ahead of weekly initial jobless claims on Thursday and then broad data on Friday. - viewed monthly salary reports.
