Dxytradingsetup
US dollar is still bearish hello traders ,
Welcome to my price forecast of US dollar index .
us dollar is still in bearish scenario.
as you see there is Ascending broadening wedge pattern, most likely it break downside .
and our target is at major support 88.25.
I have many ways to enter into market and one of them is after channel break.
Thanks for Watching my idea, have a green day ..
DXY- New leg up above 92?From the start of the Corona pandemic, USD was very weak, with the index losing around 15%. At the beginning of the year though, DXY seems to have found a bottom in 89 area and has started to correct.
At this point a new leg of correction is probable and I expect 90 zone to hold firm.
I'm focusing mainly on Aud&Nzd for short trades. Also UsdCad long can be a good idea with the pair looking very bullish above 1.26
DXY- Usd against the ropes, again...In my weekend comment, I said that the USD is very probable to had found a top at 91.50 and now looks ready to resume its long term downtrend once 91 zone support is cleared.
At this point, the index is trading at 90.75 and under the confluence of horizontal and rising support of the flag.
I favor selling USD against Eur, Aud, Nzd and Gbp, and buying dips for these pairs can be a good strategy.
First support is at 90 and a break here would expose 89.20 low
DXY, Still Bullish..?As salam alaikum
F.A Review:
DXY Trying to recover as Joe Biden and FED decisions
are manipulation market.
T.A review:
Rising Wedge
Minor Ascending Channel Broken
Seems like retracement is done.
If still holds 91 zone and breaks up
then DXY might bring lots of pairs pretty down.
#DXY #4HHi guys..its the latest analyze chart of DXY in 4H time frame .if you are interested any crypto that you want analyze with me and any questions please do not hesitate and comment below the chart!
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DXY, Dollar SkyRocketing?As salam alaikum
DXY Trying to recover as Joe Biden and FED decisions
are manipulation market. Still NFP,ISM,PMI to come,
that depicts the sign of further incline.
T.A review:
Rising Wedge
Minor Ascending Channel
90 seems to be rejection zone
If breaks up and retest then DXY might
bring lots of pairs pretty down.
DOLLAR -Dead Cat Bounce? The dollar index chart updated. It has risen today like it has done frequently recently but unable to break over the resistance.
Given that the Federal Reserve news are on in a few hours, it will be a very interesting session later on today.
We will be on alert for more volatility in the next few hours
#DXY - lower low will be setThe dollar index could not overcome the $91.018 High and went under support. If the price did not set a higher high, most likely the downtrend will continue and a lower low will be set
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Thanks for your support!
DXY / LONG IdeaFrom what i can see before we can look to go long on the DXY we must wait for price to reach this area which i have marked out as support
No significant moves happen unless this area is reached and we are probably a few weeks away from that as yet
This is just my opinion, let me know your thoughts
Dollar index began to recover.the index began to recover.
The markets went down.
a strong indicator.
What do you think?
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Thanks for your support!
DXY- To continue its correctionAs I expected, DXY broke above short term wedge resistance and reached my first target.
Now the index looks determined to continue its upward correction and 92 could be the target for such a correction.
In my opinion rallies in EurUsd, NzdUsd, AudUsd should be sold, and also a buy trade for UsdCad could be a good choice
DXY Short IdeaLook for rejections in this area and we can short to the area highlighted in the chart
DXY is bottomingWhat is clear is that USD is weak but also is clear that the market can't be unidirectional indefinitely.
Usd counterparts started the year strong but the new highs (and new lows for the index) are marginal and lacking power. So far all that USD could do was to have some intraday correction and I think this is about to change and we will have a lasting correction.
That being said I will look for opportunities of buying USD and my preferred pairs are EurUsd, AudUsd and NzdUsd for short and UsdJpy&UsdCad for long trades
DXY- Dollar bears should be very careful now!I was pretty bearish USD till now and I wasn't disappointed by now and although in the long run I maintain my bearish outlook on DXY, at this point a drastic correction can be just around the corner.
With DXY approaching a strong support and old congestion zone around 89, I think Dollar bears should be very careful.
From the risk point of view also I can't see a favorable trade on the short side so, in my opinion, we should look to buy USD especially with NZD,AUD and CAD
DXY- Correction underway?A great volatility day for USD Index yesterday and, after opening with a gap up, the index fell in the afternoon and from a technical point of view, just filled the gap.
Now it seems like we have a strong base on 90 and slightly under and I expect a correction to follow.
Pairs that I have in focus for selling are EurUsd, NzdUsd and AudUsd
DXY- Important breakAs I said before, I'm very bearish USD, and till now things worked that way.
Now, after breaking down the flag formation, we have another important break for USD index: the horizontal support and previous low.
In my opinion rallies on USD should be sold and we can soon have new local highs for EurUsd, AudUsd, GbpUsd and NzdUsd
DXY- USD shows no life at allLast week I said that I expect a new low from USD Index and my opinion doesn't change.
After a short-lived rebound from 90.60 support, DXY opened last night with a gap and dropped again, not being able at least to close the hole gap.
This tells me that a break under the support area could be just around the corner and DXY can have a new leg down even under 90 psychological support.
Under these conditions, EurUsd is my first choice to buy.
DXY- Could it go under 90.50?Two weeks ago I said that I expect 92 support to fall , and now we have this break, and Dollar index is trading at 90.65 at the time of writing. More important is that DXY is now just above another support situated at 90.50.
If we look closely at the chart we can see that after finding support at 90.50, USD Index made a short term double bottom that I've spoken about and although we have a correction at that point this was very short-lived and the index reversed and broke under the flag pattern support.
I expect USD to remain weak and, indeed, we can have a break under 90.50 support. The next support is around 89 zone and, in this situation, EurUsd can be the best bet for rising and challenge 1.25
DXY- Double bottom on H1, correction underway?As I correctly anticipated, DXY broke under 92 important support and that lead to a 1.5% loss for the index, a strong break above 1.2 for EurUsd and GbpUsd reaching 1.35.
Now the index found support in 90.50 area and has formed a small double bottom visible on H1 chart. The neckline of the pattern is broken and we can expect a correction to 91.50 zone resistance.
I will look to sell rallies for EurUsd, GbpUsd, AudUsd and NzdUsd in this context.
