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$DXY_USD_Trend & Fib analysis_ Longterm to Shortterm_ €EURUSD€.Hello everyone. My name is Virginia TElphee and today I’m going to explain to you my thoughts on USD that will help us better navigate ALL forex markets in the coming months. Please note these are just my opinions and should not be considered investment advice. Looking at this Daily candlestick chart of USD index – ticker symbol DXY a few general observations are noted. DXY is in an obvious downtrend. 92-91 proved to be a very hard level supporting price for approx. 3 months. Finally, price exploded through the level and provided many closes below the 91 level on large time frames. Now that lower lows are confirmed it is time for the market to pullback into old support as part of its verification process. Wave analysis helps highlight the general moves. Forgive me the waves are not perfect, but I feel they are good enough. Long term we have made a substantial move out of a coiled range. This would definitely qualify as the start of a new large cycle impulse wave count. Large cycle wave 1 inner structure is completed by two impulse waves back to back. We are on our way to completing long term wave 2 as seen by the blue waves but understanding of wave logic we should account for alternation and do not expect another back to back impulse pattern in the short term. This leads us to where the market is presently. As of the close of market Friday USD looks a tad bullish confirming my suspicion we are in a correction phase that will be equal to the first correction which not only satisfies the alternation issue but means our next impulse move down should be after a 3-wave correction occurs. This action would also confirm a verification that old support at 92-91 level has become overhead resistance. So If DXY moves up to 92-91 level like I suspect I will be watching diligently for long term short positions. If the most aggressive outcome occurs and price runs down to test these lows I will also be watching for short term shorts. Be warned if DXY has a Weekly close above 93 the wave counts and this analysis are no longer valid. Long-term if the market moves as anticipated and the wave counts add up we should be due for 84-83 area to complete a long-term 3 wave pattern or potentially a 5 wave impulse down to high 70s Midterm its possible we see rejection in the 92-91 levels as one impulse count closes and corrects. Short term we move to 91 or break down below 88.50 In conclusion This means the EURUSD and all other XXX/USD currencies are midterm are bearish but long-term bullish. USDCAD and all other USD/XXX currencies are midterm bullish but long-term bearish. Understanding the forces of the USD is the most important factor when trading FX. If you’re firm on your direction of DXY you stand a much better chance of choosing the best opportunities out of our basket of USD valued currencies and ultimately being a successful forex trader. If you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Oanda data shown. Material is educational only. Trade at your own risk!
INDEX:DXYShort
by UnknownUnicorn981629
2
NEO-USD Short - Critical Price PointNEO has been building a great base of support, and a myriad of legal/governmental policies around the world--namely, China-- have been driving this currency into the forefront of "next-to-emerge" Cryptos that are traded against the USD and other Fiat currencies. Currently, NEO is sitting right on it's "steep" upper growth channel, but has potential to go either way depending on the Moving Average indicator alignment as well as which channel NEO ends up in (at close on 12/7/17). Summary : 2 sets of indicators showing good predictive capacity--7-day, 3-day, 2-day MA in conjunction with each other often set the tone for many crypto trends, as well as the basic parallel channel movement to indicate breakout up or down. IFF: NEO closes high enough to keep the 2-day MA above the 3-day MA, which also closes in the Blue Channel, then we could see another large jump over the next couple of days (1-2 days, with upside ~$45-47). If: NEO closes in the Blue Channel, but MAs indicate downward trend (i.e. 2-day does not cross 3-day upward), then we will likely progress near the lower limit of the Green Channel for some time with minimal swings in value (~$31-36); however, this scenario still has good upside for a near-future breakout (3-5 days). If: NEO closes in the Green Channel, but near the lower limit of the Blue Channel, we should see a relatively quick bounce-back, but only moderate with respect to the recent major upswings (1-3 days). Furthermore, the following growth must surpass the lower limit of the Blue Channel for this to continue as predicted. If: NEO closes near the lower limit of the Green Channel, we should expect a rapid , growth phase immediately following--though it may not be apparent until later in the second day--as many may panic sell in- or near the Gray Channel. As always, be smart with your Crypto movements, don't short BTC unless you're a maniac (it's kinda fun to be that risky......but I think it's more fun to only make gains), and feel free to ask questions, comment, or share if you agree/disagree! -Jordan
NShort
by jhindman989
short Dxy at 94.66 for a pullback at 94.06Now that we get our 2 target in long i short eh Dxy for the pullback,he is also overbought and i think 94.06 its a good pullback level or we can go more deep to the Up t-line...but i prefer said only 94.06 who match with the resistance that become support enter at 94.66 Target 94.06 so is a go for 60 pts more we go in 2 separete position like all time for can close 1 in profit and let the 2nd in stop +10;+15 for be safe and get profit sure .
TVC:DXYShort
by corsicasia
GBPUSD Hourly, 2618 setup (LONG)Its been a while since I entered with this setup, but this one had a case with historical support and resistance area coinciding with the 2618. A clear double bottom, right at the level. With a break to the upside (break of the "v" point of the double bottom) followed by a 0.618 retracement - and here we already see some reaction. Targetting retest of the previous high followed by a 0.618 retracement of the larger bearish leg - which coincide with 1.286 round number. Stop loss below previous lows
Long
by timmynorin
USDJPY Short - 104 then 94 The USDJPY has changed, having been essentially flat and choppy for the last 12 months it now looks to be taking on a bearish outlook. This can be seen as a combination of the price action, the dropping economic performance as measured in the surprise index and the Trump administrations seeming failure to get anything done. Debt ceiling talks are approaching, tax reform seems like a distant dream and health care is just a mess, eventually this will take a toll and I think now is eventually. If the USDJPY moves from a sideways to a negative stance that has significant impact on my market model, it makes it very difficult for any of the yen pairs to make progress that in turn causes the Indicies to fall (perhaps 10 or 15%) and puts pressure on the European currencies. Of course the depth of the USDJPY drop is debatable, I think with one more upward correction due it is heading to 104 and may break the invalidation level at 94, if it does then I do not know where the bottom lies.
Short
by WaveRidr
EURUSD - Continuing bullish Posted earlier on my telegram - t.me We see a revisit of the previously broken falling trendline / top of bullish pennant. This area also hold fibo confluences and previous structure- and resistance zones. I use this area as a first level to put on another set of buy orders with targets 1.13 and 1.14. We might even see a retest of a previous strong resistance level starting at 1.146. IF we continue down, the next area to put on buy orders for me would be 1.16 and 1.13. Only if we violate 1.11 I see this pair as bearish.
Long
by timmynorin
Break of lower trendline, more downside momentum on DXY likelyThe US dollar index is at a turning point. For close to 6 months, this index has been in a converging symmetrical triangle that was playing out on the daily chart. During that time, many tests of both the upper and the lower bounds of the triangle have happened, but there was never an actual breakout. This has now changed. On Friday, the DXY broke and closed below the lower trendline for the first time. It also broke the 5-month lows and it closed relatively strong to the downside. We need to see what happens next week, but my initial bet is that we might see more downside momentum. This would be in line with multiple setups I have added to my weekly watch list, where I also expect to see the dollar lose some strength. For more potential setups, have a look at my outlook for next week . Find more analysis on smartforexlearning.com and give us a follow: - on Twitter: twitter.com - on Facebook: www.facebook.com - on Google+: plus.google.com
TVC:DXYShort
by UnknownUnicorn553472