Dxyidea
DXY-U.S. Dollar IndexThe weekly price chart below shows the U.S. Dollar Index printed a large bearish candlestick last week, establishing new lower resistance levels at 12215 and 12257 (the latter looking more reliable). This represents a bearish retracement following last week’s highest weekly close seen in 18 months. The price is also potentially supported by the support level at 12174.
If the support level at 12174 continues to hold, the long-term bullish trend will be likely to resume.
Overall, it seems clear we have a very bullish picture in the USD over the long and medium terms, so it will probably be wise to trade in the direction of long USD over the coming week, at least in the Forex market. In other markets, it is likely that the USD will not be a key driver of price movements.
_DXY forecast in new upcoming weekhello everyone, I hope you had enjoyed the weekend
as we know last week the Us dollar lose interest in the market and broke support at 95.58. now in the 4H time frame, the market has to test that old support (new resistance)
around that level, we have an inside bar and we have to wait for it to break down and then we have a 60% chance to rich to lower support as 95.14 and next 94.79
and I will be glad to share your opinion with me.
have a nice trading week and trade consciously.
DXY- Up we broke, 100 is in cardsIf you follow my ideas, you know that I'm bullish USD for quite some time, and the market didn't disappoint me so far.
Looking at DXY, we can see that after the drop from 2 weeks ago, USD has found strong bids exactly in the confluent support given by the trend line and the horizontal one, and a strong V shape recovery followed.
Now we also have an up break of the old resistance and consolidation and the index looks determined to reach 100 psychological figure.
The strategy for USD pairs should be to sell rallies for EurUsd, GbpUsd, AudUsd, and NzdUsd
USD- The REAL moment of truth!Since May's 2021 low, the Dollar Index was very bullish and the price has risen around 8%, but more importantly, has broken above 95 zone very important resistance.
After this important break, the price consolidated for one and a half months, but the price lacked continuation and, instead, has broken this consolidation to the downside.
At this moment we can't say out loud "reversal", but there are a lot of red flags coming with this development.
Technically the index is sitting on confluence support now and the trend remains up so far.
However, a clear break under this confluence support would be extremely bearish for USD with the confirmation of a false break and more importantly a lower high in place.
If this is the case, Dxy can drop and revisit the 90 zone if not even further