DXY can rise to 112 and even aboveSince the beginning of the year, the trend for the USD is up and, after breaking above the important phycological 100 figure, the index is trading in an ascending channel and every correction on Usd is bought.
Recently, the index reached 110 and a correction followed, this drop was quickly reversed once CPI data were released and the price is now again above 108.50-1.09 zone resistance.
I expect a new leg up from Usd and 112 can be the target.
Pairs like EurUsd and GbpUsd should be sold on eventually rallies
Dxysignals
DXY is on steroids 😂🤦♂️Dxy is moving in an uptrend channel for more than eight months so based on this channel I guess he will stop at 111.60 then it will start to fall to price level 108 then we can see if it's going to continue in this uptrend channel or will it fall.💵💰
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DXY create bearish Harmonic pattern. So, Short sell, long buy
In this situation DXY chart Bearish Harmonic pattern .
So, market need to seems SELL correction at 109.327 or 108.500 support
level. Then Market fully BUY to 109.900 ; 110.240 & 110.500 resistance level.
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DXY has is preparing to take off!!DXY has opened with a big gap in the monthly perspective. With the long-term bullish market structure, DXY is preparing to continue its uptrend. It is a high probability that DXY will test the support of this structure and will bounce off to the upside.
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DXY can break resistanceSince Monday, DXY is consolidating just under 109 technical resistance and 110 important figure.
From February the trend is strongly and clearly up and I expect this to continue.
The confluence around 106.50 offers strong support and dips towards this zone should be bought in anticipation of an up break.
My pairs in focus are:EurUsd&GbpUsd for short trades and UsdCad for long trades
DXY create bullish Rectangle pattern. So, Short sell, long buy
In this situation DXY chart Hopefully create bullish Rectangle pattern .
So, market need seems to SELL correction at 108.600 & 108.400 support
level. Then Market fully BUY to 109.550 & 110.200 resistance level.
AronnoFX will not accept any liability for loss or damage as a result of
reliance on the information contained within this channel including
data, quotes, charts and buy/sell signals.
If you like this idea, do not forget to support with a like and follow.
Traders, if you like this idea or have your own opinion about it,
write in the comments. I will be glad.
DXY critical test on the multi-year pivot. Huge sell ahead?The U.S. Dollar Index (DXY) hit last month a Pivot trend-line (2) and so far is unable to break it. This pivot has started as a Support back in August 1992 and then turned into a Resistance since May 2004 and has been such up to this date.
As you see, the very same pattern with a Pivot trend-line (1), had a similar effect on the multi-year trend from October 1978 to June 2001, which seems to be a similar point to where we are at today.
See how every such rejection on the Pivot as a Resistance has been brutal and the sell-off have been very quick and strong. If that is the case this time too, we should be expecting now a rejection and a massive pull-back to the 1W MA200 (orange trend-line) at least, within 2023.
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DXY Approaching the the July Resistance. Critical test.The U.S. Dollar Index (DXY) is on a 2 week uptrend following our last analysis, centered around the 2022 Bullish Megaphone:
As you see, both the Higher Lows (1) trend-line (the Megaphone's bottom) and the 1D RSI Support held, and the price initiated this strong rebound. The critical level is now the 109.300 Resistance of the July 14 High and the RSI Resistance Zone. A break above both, would be a bullish break-out signal, targeting the 2.0 Fibonacci extension, a little below 114.000, which is the Fib level that all Higher Highs within the Megaphone have targeted.
On the other hand, only a break below the Higher Lows trend-line and the 1D RSI Support, can be taken as a bearish break-out signal, in which case we can target the 1D MA200 (orange trend-line) for the first time since June 17 2021.
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DXY create Elliott wave.So Short sell, long buy
In this situation DXY chart Hopefully create Elliott wave.
So, market need seems to SELL correction at 107.700 support
zone. Then Market fully BUY to 109.300 resistance level.
AronnoFX will not accept any liability for loss or damage as a result of
reliance on the information contained within this channel including
data, quotes, charts and buy/sell signals.
If you like this idea, do not forget to support with a like and follow.
DXY The critical 1D MA50 is so far holding. What's next?The U.S. Dollar Index (DXY) has been testing the 1D MA50 (blue trend-line) for 6 straight days, so far successfully as it is holding. Practically, this has been the DXY's Support since February 23 and ignoring two short breaks, since June 16 2021.
There are two Higher Lows trend-lines involved (1 and 2) but technically a break and 1D candle close below the 1D MA50 should ignore Higher Lows 1 and target the 1D MA200 (orange trend-line). However in order to see that happen, the 1D RSI Support has to break (in effect since February 03). Until that happens, a rebound is more likely (as it has been happening for months), targeting the 109.300 Resistance.
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DXY Downlink formationDXY Downlink formation
Tipping point with down channel seduction
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DXY possible drop!!DXY ( 4h) has broken the support to the downside and opened with a gap down today. The price is just below daily support and 20EMA. As there is head and shoulder on the daily, There is a possibility of dropping the price to the downside to monthly support. As the monthly candle close, we could drastically drop as per price action formation.
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DXY Peak formation on RSI and invalidation levelThe U.S. Dollar Index (DXY) , hit (and broke) last week the 3.5 Fibonacci extension level from the market bottom. The last time that happened while the RSI turned sideways above the 70.000 overbought level was in Q4 2014 - Q1 2015. The price then pulled-back to the 2.5 Fib level and stayed neutral until it hit the 1W MA50 (blue trend-line).
However we have to account for the possibility of the pattern following the +27% rise pattern, which gives a top around 113.500. As a result if you take such a trade it would be best to account for an invalidation level exactly on last week's High.
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