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75: DXY's Reclaimed 102.6: Eyes on Long Positions around 102.4Greetings, traders! 📊📈 A new chapter is unfolding in the world of the DXY (US Dollar Index) as it resurfaces above the 102.6 mark. This resurgence has ignited discussions about potential long opportunities near the 102.4 region, presenting an intriguing prospect for those closely monitoring this market movement. 🔀 Shift in Dynamics: With the 102.6 level now back in play, the landscape is shifting. This pivotal juncture, now functioning as a support-turned-resistance, signals a renewed bullish sentiment. Coupled with the proximity to the 102.4 zone, previously holding as a support, the stage seems set for potential long positions to come into play. 📉 Analyzing the Context: For those considering a long play, it's essential to stay attentive to the prospect of a pullback toward the 102.4 area. This could be an opportune entry point, especially if accompanied by encouraging bullish confirmations such as robust candlestick patterns or indicators signaling an upward trajectory. 🎯 Strategizing for Profits and Risks: As you craft your long strategy, mapping out profit targets around significant resistance levels or recent highs is prudent. Pair these targets with a well-placed stop-loss, likely positioned below the 102.2 level, to mitigate risk and cushion against potential adverse market movements. 📆 Event Sensitivity: Maintain vigilance over forthcoming economic events or announcements that might sway the DXY's course. These factors, combined with the broader market sentiment, can play a pivotal role in shaping the outcome of your long-trade scenario. 🚧 Ready for Contingencies: In the unpredictable realm of trading, having a contingency plan is a must. Should the DXY falter and dip beneath the 102.4 support, being prepared to reassess and recalibrate your trading approach is crucial. 📖 Unending Learning Journey: Remember, the path of a trader is one of perpetual learning and adaptation. Take advantage of this opportunity to refine your technical analysis skills and deepen your grasp of market intricacies. Disclaimer: This post is intended for educational purposes only and should not be construed as financial advice. Always conduct thorough research and seek guidance from financial professionals before executing any trading decisions. Wishing you all success on your trading endeavors! 🚀📈📊
TVC:DXYLong
by Soldi75
DXY doesn't look too happy below 100Last week the US dollar index (DXY) closed at a 15-month low and beneath 100 for the first time since April 2022. Yet subsequent price action has seen a lack of conviction form bears, allowing prices to form a double bottom just above the March 2022 high and close with a Spinning Top doji yesterday. Given US yields are showing signs of stability (and hinting at a move higher themselves), it seems reasonable that the US dollar is due a corrective bounce over the near-term which brings 100.5 and the April low into focus for bulls. A break beneath the March 2022 high invalidates the bearish bias, but this could be raised to the recent swing lows if we see a decent break (or daily close above) 100.
TVC:US02YLong
by CityIndex
Mind-Blowing Surge: US Dollar Skyrockets 5000% against Argentina I come bearing astonishing news that will undoubtedly leave you stunned and intrigued. Brace yourselves for a mind-blowing revelation: the US dollar has soared an unprecedented 5000% against the Argentina peso! Yes, you read that correctly! The US dollar's monumental surge against the Argentina peso has sent shockwaves through the forex market. This staggering increase has left many traders astounded, and rightfully so. It is a testament to the volatile nature of currency fluctuations and the potential opportunities that arise from such dramatic shifts. As we witness this extraordinary event unfold, it is crucial to consider the implications and potential ramifications. Countries like Argentina, grappling with economic uncertainties, are now contemplating the adoption of the US dollar as a viable alternative. This development has sparked a flurry of discussions among economists and policymakers, drawing attention to the stability and strength of the US dollar in tumultuous times. In light of this monumental shift, I urge you to carefully evaluate the potential benefits of including the US dollar in your forex strategies. One effective way to gauge the US dollar's performance against a basket of other major currencies is by monitoring the Dollar Index (DXY). This index, which measures the dollar's value against a weighted average of six major currencies, can provide valuable insights and assist in making informed trading decisions. Considering the recent surge of the US dollar against the Argentina peso, keeping a close eye on the DXY becomes increasingly pertinent. By doing so, you can stay ahead of the curve and capitalize on potential opportunities that arise from countries considering the adoption of the US dollar. So, fellow traders, let us seize this moment of surprise and possibility. Explore the potential of the US dollar, leverage the power of the DXY, and stay one step ahead in the ever-evolving forex market.
TVC:DXY
by bryandowningqln
DXY: The power of the economy!Mr. Biden revived the industry to compete with China, but this intervention could put the US economy and its allies at risk, according to the WSJ. Jake Sullivan, President Joe Biden's national security adviser, is often preoccupied with foreign threats, such as the Ukraine conflict. But in April, in a speech at the Brookings Institution, he addressed the threat from within, of the long-held view of Washington elites that "the market has always allocated capital efficiently. and perfomance". Some in policy circles call this view neoliberalism, or free trade, which has been bipartisan for decades. But Sullivan argues, this doctrine has emptied America's industrial base, weakened the middle class and made the country more vulnerable to climate change, Covid-19 and the weaponization of its supply chains. hostile countries. To solve it, he said that the US needs a new approach, a "modern industrial strategy". Accordingly, the government supports stronger investment in industry and commerce to strengthen the middle class and national security. Since the 2020 election, Mr. Biden has tried to come up with a unified theory for his economic policies. And Sullivan's recent remarks on the White House's domestic and foreign goals toward China have more clearly depicted what could be called "Bidenomics," with three pillars. With that comes some blind spots and contradictions in this economic policy, according to the WSJ.
TVC:DXYLong
by Sphyn-Trader
DXY 8June2023Currently the DXY seems to respond positively to the bearish trendline. the price has also broken the support. the next target is the trendline below. there are times when now is wave 4 a complex correction occurs, then we can be prepared that the price can go down quite deep going forward. the invalid area is the limit where this analysis can still be valid. when the price goes down deeper than the invalid area, then it could be that the trend has changed completely to bearish.
TVC:DXY
by Hokusai_FX