DXY- A break under 92 means disaster for USD (weekly outlook)For 3 months now, DXY is trading in a range between 92 zone support and 94.50 zone resistance.
Although the 92 support has not been broken yet, USD seems very weak with all rallies being very well caped by bears.
I believe that this support will fall eventually and USD will spiral down to 88 support.
In this context AUD, NZD, GBP, and EUR should be bought against the dollar and I'm looking for a medium-term gain of around 5% for these pairs
Dxytradingsetup
DXY Lacks powerFor now, DXY is trading above 92 important support, and although this is an important support USD looks very weak overall.
The price seems to press on this support and we can assist a break soon.
That being said USD is bearish on medium-term and only a break and sustained buying power above 93 would shift things in bulls favor.
Dollar Index- To see range trading92 zone proved to be strong support for DXY and last week the price turned from this zone putting in a nice bullish engulfing from here.
The price corrected the recent up move and now looks ready to challenge the range resistance at around 94.
In this context i will look for selling opportunities in EurUsd, AudUsd, NzdUsd and GbpUsd
USD- Up against the ropesUsd failed to have a meaningful correction to 96, as I initially thought and, after a false break of the trend line resistance is now trading in horizontal support.
The situation for USD in all its major counterparts is not at all "in the pink" and I believe this support will fall next week.
That being said I will look to buy dips on EurUsd, GbpUsd, AudUsd and NzdUsd
DXY- To break or not to break?To break is my opinion...
As I said in my previous analyzes, I'm bullish DXY.
The index has clear support above 92 and at this moment is trading just in trend line resistance. I believe this resistance will give up and will see an upwards acceleration for DXY.
My target is 96 with interim resistance just under 95
Usd should be bought on corrections against its counterparts
DXY- Waiting for bullish confirmationI'm bullish USD on medium-term, and the price action for Usd Index comes to confirm my outlook.
92-92.50 zone is extremely strong support for the index and now we have a false break under the previous low which gives me reasons to expect higher prices.
A clear confirmation for bulls comes with a break of the down trend-line and, as I said in past occasions, DXY could reach 96 resistance
DXY- Would history repeat its self?For 2 months now, DXY is in a consolidation with no clear direction.
I'm bullish USD in the medium term for quite some time and if we look at the last long consolidation from the beginning of 2018 we can see the structures are similar.
If history is to repeat its self we can expect the major pairs to fall and with AudUsd already in a downtrend, UsdCad with clear support and NzdUsd in the final stages of a H&S, here is where I will look for opportunities to buy USD
DXY-Trendline and 93.00 resistance aheadDXY
Due to the stimulus talks sluggishness has caused the DXY to reach the current bottom level and broad risk on mode helps the other major currency pairs against greenback but DXY has managed to re bounce from 92.477 And reached the upper side of the trend line and today DXY firmly broken the trend line too and 93.000 will act as major barrier for the bull. DXY is currently in consolidation phase we can expect strong bullish run in coming days
The last descending wave from Point 2In the daily chart, with the termination of the downtrend in the range of 88.25, the uptrend, which is formed with 5 uptrends, has been confirmed, and extended up to the range of 102.99. in continuation, the price has entered the corrective phase of this uptrend, which currently is in the 5th wave from Point C, it can be extended up to the range of 91.50.
Given this scenario, which is also inconsistent with the analysis of the euro and the pound and gold, we expect an increase in the price of the dollar index, which will cause a drop in the EUR /USD up to the level of 1,000.
DXY - Outlook 17 October 2020 - bullish **short term**Hi all traders,
This is a video analysis for dxy.
As always, i have informed some of the levels that are important towards your trading for dxy.
Hope it helps in your trading.
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Thank you and cheers to a great day!
Short DXY below 93.30Hello Sophisticated Trader,
This week the Dxy gave up all its gain with a solid bearish candlestick. The uncertainty, bailout, and printing of money out of nowhere seem to be beginning its effect on the market, especially this close to the US election. Technically, today's close below the 50 MA, the crossing of the MaCd down, and RSI pointing down on a daily chart, all indicate another leg lower to potentially test support.
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Happy Trading!
Dr. Lydia Smith
DXY - Outlook 8 October 2020 - Complicating USDHi all traders,
This is a video analysis for dxy.
DXY is gonna be volatile as the US election nears.
but we are also at an important levels where traders could make some pips trading it.
So take note of those levels i have explained in the chart.
hopefully you will take some trade off it and make some pips.
As always, do like and share this video analysis with all your friends.
Follow me on tradingview and leave a comment if u have any questions pertaining to this video analysis.
Cheers and thank you!