DXY Sell SignalPattern: Triangle on 1D.
Signal: Sell once the price closes below the 4H MA50 (green trend-line) which has been the sell confirmation on the previous bearish leg of the Triangle. Also the price got rejected on the Lower Highs trend-line of the Triangle. Notice how the 1D RSI has been on a Bearish Divergence.
Target: 90.000 (a little over the 0.9 Fibonacci retracement level).
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Dxysignals
DXY The 1W MA50 holds the key.On the first quarter of the year, I've published the following posts. One was a research on DXY's tendency to 3 year cycles and how it has entered a new one, and the other how under certain circumstances, the current bottom resembles that of 2018:
It appears that the U.S. Dollar Index is attempting a repeat of the 2018 - 2020 Cycle as this week has posted an incredible green 1W candle that is at the moment slightly above the 1W MA50 (blue trend-line). In 2018, when DXY closed a weekly candle above the MA50, it started a sustainable rise (in the form of a Channel Up) towards the Highs of the COVID outbreak.
In my opinion it is all about the closing of the 1W candle. Do you agree?
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DXY Idea on 16 June 2021 #H4As we see dxy chart on 16 June 2021, after dxy finish running on flat price range between 90.400 - 90.600 from 13 June to 16 June, As FED meeting would affect the interest rate and US Dollars.
Trading plan, Wait for break out Flat Range and long at retest around 90.600 Target 90.800-90.850
DXY 3 different patterns on the same time-frameDXY has been bearish since the March 31 top and after the multiple rejections on the 91.440 Resistance, formed a Channel Down. Since May 11 though an Inverse Head and Shoulders pattern slowly emerged, which is technically a pattern seen on market bottoms that prepares a reversal. In turn, that gave way to a Channel Up since May 25 (blue channel). My trading plan is this:
* As long as the Channel Up holds, long to 90.650 (the Higher Highs of the Channel). If the Channel Down breaks, short to 89.300 (the 1.236 Fibonacci extension). If the Channel Up continues above the target, medium-term short near the 91.440. The trend remains bearish long-term, unless that Resistance level breaks.
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DXYas I said on March 21 ... DXY is in a strong downward trend and if for 1 week it rejected 3 weeks in a row from the Fibonacci 0.5 area, I expect it to continue the descent to Fibonacci 382!
...exactly as I said in the last 3 months DXY rejected from the 786 Fibonacci level and went down thus closing the Fibonacci chart that I drew 3 months ago!
From this area, I expect DXY to reject and start rebuilding the W I've been talking about lately ....
THIS WEEK...as I was saying last week ... DXY has stopped falling and is starting to form support in this area and form W!
If the next weekly candle will still be green then I will look for BUY around 92,600 or even higher ...
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*This information is not a Financial Advice.
DXY Bearish Cross on 1D MA50/100. Repeat of the 2017 pattern?The DXY has just formed a MA50 (blue trend-line)/ MA100 (green trend-line) Bearish Cross (BC) on the 1D time-frame. This alone has mostly been a sell sign in the past 4 years. What I am particularly more interested at is a similar occurrence I spotted on the fractal from 2017/ 2018.
The USD Index was trading on a 1 year Channel Down when the 1D MA50/100 BC took place, similar to the Channel Down it has been trading in since 2020. The 2018 BC delivered one last Lower Low within the Channel Down that formed the market bottom for the years that followed. That bottom was made on the -0.236 Fibonacci extension. That is currently just over 86.500. Can a similar Low be made this time? It is very possible with the fundamentals agreeing too, as the new Biden stimulus should further devaluate the USD. As you see the RSI and MACD fractals are also fairly similar.
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DXYas I said on March 21 ... DXY is in a strong downward trend and if for 1 week it rejected 3 weeks in a row from the Fibonacci 0.5 area, I expect it to continue the descent to Fibonacci 382!
...even if it climbed to the Fibonacci 786, DXY continues its downward trend we were talking about and will reach the Fibonacci zone 0.382 where it is a very strong area ... and even if it rejects and rises again to the 91,950 area ... the trend is in continue to descend!
...as I said last week DXY rejected from Fiboinacci 382 and closed under Fibonacci 0.236 from where ... even if it will go down a little to the area 89.800-89.300 I think it will start an ascent and will form a W
THIS WEEK...exactly as I said in the last 3 months DXY rejected from the 786 Fibonacci level and went down thus closing the Fibonacci chart that I drew 3 months ago!
From this area, I expect DXY to reject and start rebuilding the W I've been talking about lately ....
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*This information is not a Financial Advice.
DXY long-term selling pressure.Pattern: Channel Down on 1D.
Signal: Sell once the Support breaks. The emerging 1D MA50/MA100 Bearish Cross was last seen on June 16, 2020 and formed a top.
Target: 87.000 (just above the 1.618 Fibonacci extension).
Most recent DXY signal:
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DXY- A clear falling wedgeSince the beginning of May, USD was weak and dropped again under 90 figure.
However, the drop is not impulsive and the lows are marginal, forming a falling wedge on the lower TFs.
A break of wedge's resistance could lead to acceleration to the upside and we finally can have a correction on usd pairs
DXYas I said on March 21 ... DXY is in a strong downward trend and if for 1 week it rejected 3 weeks in a row from the Fibonacci 0.5 area, I expect it to continue the descent to Fibonacci 382!
...even if it climbed to the Fibonacci 786, DXY continues its downward trend we were talking about and will reach the Fibonacci zone 0.382 where it is a very strong area ... and even if it rejects and rises again to the 91,950 area ... the trend is in continue to descend!
THIS WEEK...as I said last week DXY rejected from Fiboinacci 382 and closed under Fibonacci 0.236 from where ... even if it will go down a little to the area 89.800-89.300 I think it will start an ascent and will form a W
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Our analyzes have an accuracy of over 92% in the last 5 months
We also recommend avoiding short-term trades during this period because news can appear at any time that can destabilize the market.
*This information is not a Financial Advice.
DXY Sell SignalPattern: Channel Down on 4H.
Signal: Sell as the price reached the 4H MA100 (green trend-line) which previous formed a Lower High on the pattern, while the RSI is on its Resistance Zone and the MACD about to make a Bearish Cross.
Target: 89.700 (just above the Support and the 1.236 Fibonacci extension).
Most recent DXY signal:
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It's All About The Dollar StoryThe chart you see above is the Dollar monthly chart showing the last 40 years..... As you can see, the last 3 times we got a cross of the Orange 21EMA & Blue 50EMA, we saw a drop in the dollar for 5 years, followed by another 5 years of sideways action for a total of 3650+ days. You'll also notice we have plenty of room to push further down on the RSI, MACD, and momentum indicators. I personally think history will repeat, this last dollar pushes up is temporary IMO and will continue to plunge throughout 2021 and beyond.
I've seen many say they believe the dollar will die of strength rather than weakness, but I personally do not agree with that sentiment. I've posted about the dollar a few times in the past and I've continued to hold my bearish outlook on the dollar for several years now. From a fundamental perspective, the dollar will continue to weaken as long as the FED continues to print us into oblivion. Even if we stop, we'll likely only see temporary strength IMO. Overall, the strength we've seen in Stocks, Gold, Silver, Bitcoin, and the crypto markets shows the weakness of the Dollar, and I believe this will continue throughout 2021. It's possible we see a bounce, but unless we see a large push back above the moving averages toward the 95 level we should expect further weakness from the dollar.
Remember, be patient, stay level-headed, non-biased, and ahead of the crowd.
You can click the charts below to see my previous 2 Dollar charts from last year.
DXY weak below the 91.435 Resistance and 4H MA200The U.S. Dollar Index (DXY) has been rejected multiple times on the 91.435 Resistance since April 21. This is a sign of weakness on the short-term which may jump onto the long-term too is the 4 month Higher Lows Zone (green) breaks, in which case the target will the the February 25 Low of 89.680. With the MACD on an aggressive Bearish Cross, rejected also on the major zone, as long as DXY is trading below the 4H MA200, the sentiment is bearish.
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