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Dxytradingsetup

US Dollar Currency Index (DXY) Medium TermMulti-day view: DXY price action contained in a multi-month bearish channel decelerating with new tops and lows, finally clearing the May 2016 lows. Current price action has so far stalled near the prior resistance area but I am likely to see a break of this area as there is a bullish divergence under play and momentum is supporting the view as well. So I am likely to see DXY visiting 38.2% retracement area (95.90) over the coming days or so. Strategy: Buy on dips for a target to 95.90, stop below 91.66
TVC:DXYLong
by UmarAbdurRehman
What's in store for USD in Q2... time to choose our side!Firstly congratulations to those who took shorts on the previous idea (please see attached), very well done for clearing all targets on the handle. We are rolling with the dollar holding 100.xx post FED - we need to keep in sync with the dollhair to make our next few months a lot easier and it will separate the men from the boys, having a crystal clear map will be invaluable. OK so with that in mind, lets draw our maps moving forward; As long as strong prints on the macro front continue, then as will Trump's Honeymoon be extended with tax cuts being tracked like a hawk by smart money. The initial knee jerk rally is over as markets have begun to demand more since Trumpcare fell through.. In any event, there are many doors still open, if not tax cuts then we have huge infrastructure and if all else fails there is always defence (or "attack"). What we now need to track is the pullback we find ourselves in... there is plenty of room either side here, what I aim to do by publishing this idea is to start the discussion and place for us here to track and put in context over the next Q and current leg. Our options are as follows; a. BUY above 102.xx -> TP 109.xx b. SELL below 98.xx -> TP 92.xx c. sidelined, waiting for things to become clearer d. No idea
TVC:DXY
by TheBanker
19
DXY shortHi Seildev here. This looks remarkably similar to the DXY slip in May this year. - Point A shows the attempted recovery from 18th/May ~ 19th/May however fell lower within a day - Point B shows similar patterns which shows recovery however will fall within a day. Projected high move to hit 96.44 and fade. Projected DXY to be 94.5 by end of this month. DXY has been avoiding patterns and showing impulse movements to bait retail traders which in turn reverses after 24 hour period. This is the new day of Q3 and start of new financial quarter which psychologically may portray a "fresh start" image for the heavily fading US dollar in the past quarter. I believe this would be a fake out and will reverse within 96.2 ~ 96.4 down to 94.5 by the end of this month. Please trade with care. This is only my opinion from backtesting.
TVC:DXYShort
by seildev