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Usdx
Don't Sell Dollar(USDX) in the Short & Medium TermAs we shown on the daily chart, we expect 1(one) wave ((5)) movement in the next months to around 118. So the biggest odds are higher. If Dollar(USDX) breaks the last low wave ((4)), a double correction will take place. In this moment, the Right Side of H1 and H4 is turning up. We need more data to see a clear definition in USDX next movements.
DXY 4 HOUR UPDATE ( TECHNICAL )For more updates, please follow my TradingView page, and if you find the content useful, kindly hit the "thumbs up" button to show your support. If you have any queries regarding trading, please feel free to send me a direct message on TradingView. Additionally, please share this content with your friends who may find it beneficial.
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US Dollar Index: Piercing Line Bullish Reversal on the DailyThe DXY on the 1 Day has set itself up a Piercing Line Reversal pattern while on the 2 day it has settled at the 200 SMA while showing Bullish Divergence on the MACD. If this plays out, it could go for an ABCD move upwards between the .618 and .786 Retraces. This could especially be a good time to enter AUDUSD shorts.
DXY coming week hey everyone
dxy is breaking the resistance around 104-105
20ma crossing 50ma - could test 200ma
its a starting of uptrend price
rsi/macd showing bullish divergences
with all the usd new coming this week chances are USD price can rise
for weekly chart the price target is 119-120
good luck
not going to be easy for equites and gold from here onusdx has made a sharp bottom in my opinion it has completed an impulse move and now a corrective move in a down trend it can go up to the retracement levels marked on the chart however it has to be remembered that this is a corrective move only not a start of an uptrend or any impulse move so have to plan accordingly 101.5 on the downside is a key level until it trades above that level the move is only on the upside on every dips
USDXUSDX is in an uptrend. If the price remains above the level of 103.29, it is possible that it will test the resistance of 105.15 in this zone if it fails to break through. In the short term there is a chance that the price will fall. Wait to sell the red zone, the first target is 103.294 >> GooD Luck 😊
DOLLAR RETRACE TO 103+ ON FOMC & NFP VOLATILITY ?COT:
Dollar has weakened significantly since mid NOV-22
Driven by institutional selling of long contracts since begin Q4-22
Assisted by accumulation of short contracts sinds JAN-23
Outlook for Q1-23 remains sideways to down
Next downside level is 99.60
FOMC & NFP:
Before another drop below 100 big figure a retrace is likely
103+ will likely be mitigated in FEB
103 = mitigation level = GAP resistance = sell VWAP
Begin FEB is pivotal week(s) with FOMC & NFP
FOMC and/or NFP volatility will likely facilitate the retrace
OUTLOOK:
Will be monitoring price behaviour between 103.00 - 103.25
Looking for change of behaviour on the lower timeframe (wicks into mitigation-level)
Anticipating a swing lower from 103+ to 100- after mitigation
This will offer buy setups in the MAJORS, with a preference for commodity CCY's
XAUUSD vs USDX
XAUUSD Bullish on the weekly chart, still above 10 and 15 day EMA as well as 50 day SMA. Good distance between 10 and 15 day EMA.
XAUUSD Neutral on the daily chart 10 day and 15 day EMA have touched one another, but haven't crossed. XAUUSD remains above the 50 day SMA
XAUUSD Bearish on the 4 hour chart 10 and 15 day EMA have crossed with 15 day EMA now above the 10 day EMA and gap is still wide between the 2 lines. Far below 50 day SMA.
10 day EMA = Blue Line
15 day EMA = Red Line
50 day SMA = Orange Line
EURUSD Pullback Likely To Find Support In ElliottWave CorrectionIn short term Elliott wave sequence, EURUSD favors pullback in wave 2 started from 1/26/2023 high before upside resumes in wave 3. It is correcting in wave 2 in 3, 7 or 11 swings against the bullish sequence from 1/06/2023 low and expect to find support at extreme areas before turning higher. Since 1/06/2023 low, it placed ((i)) at 1.0868 high in wave 1. Below there, it placed ((ii)) at 1.0781 low as flat correction. It finished ((iii)) at 1.0927 high and ((iv)) at 1.0833 low. Finally, it ended ((v)) at 1.0929 high as wave 1 in diagonal structure in (C) leg on 1/26/2023. Below there, it favors pullback in wave 2 in proposed 3 swing correction.
Below wave 1 high, it started correcting lower in wave 2 in proposed zigzag sequence. It ended ((a)) at 1.0836 low as short term diagonal sequence. Inside ((a)) leg, it ended (i) at 1.0872 low and ((ii)) at 1.0917 high. Below there, it finished (iii) at 1.0849 low and (iv) at 1.0900 high. Finally, it ended (v) at 1.0836 low as ((a)) in wave 2 correction. It proposed ended ((b)) at 1.0914 high in 3 swings bounce, where (a) ended at 1.0879 high, (b) at 1.0851 low and (c) at 1.0914 high. Below ((b)) high, it favors lower in ((c)) leg, which confirms below ((a)) low. It placed (i) of ((c)) at 1.0889 low and (ii) at 1.0911 high. It finished extended wave (iii) at 1.0837 low and appears ended (iv) at 1.0860 high. Below there, it favors lower in (v) towards 1.0821 – 1.0763 area to finish ((c)) leg at extreme areas to end wave 2 correction. From extreme areas, it expects to resume higher either in wave 3 or at least can see 3 swing bounce as the part of double correction in wave 2.
Dollar Multi-Timeframe and TMP AnalysisThe dollar has been ranging for well over a week. This could be price bottoming out, but before we make that assumption, there are steps in between before knowing for sure where the dollar wants to go next.
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USD MIGHT AIM FOR 100.00 TO FINISH WYCKOFF DISTRIBUTION- Seasonally USD is weak in DEC
- COT: Asset Managers in charge of Dollar pricing
- COT: Asset Managers in distribution-mode since SEP above 110.00
- S&D: 100.00 is Weekly demand-zone offering liquidity to buy back shorts
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COT: images2.imgbox.com
USDCAD: 2ND IMPULSE LOWER TO 1.30 ?Looking for a drop to 1.30 big figure
COT: Looks like Institutional switching from acc. to dist. CAD shorts
COT: USD longs in dist. mode since Q4-22
COT: Both developments spell more downside for USDCAD
Pivots: Q1-23 starts with selling the Qarterly Pivot
Pivots this predicts Quarterly S2
TA: Daily downtrend evolving with a HH > HL > HH > HL printing
Levels: Stops resting below 1.3250 / 1.30 as downside target = QMS2
EURUSD ON IT'S WAY TO 1.1250 ?Looks like EURUSD is heading for 1.1250:
1500 Pip Seasonal run from 0.975 to 1.1250
Dollar is weak(ening, looking for USDX to drop below 100
While Dollar in weakening-mode EURUSD is going strong
COT Longs: Institutional Investors accelerated their long position
COT Shorts: Institutional Investors pauzed their short position