Nothing much changed since last weekly update.US Dollar Index is still losing the strength after breaking trend line (yellow line). Chart and indicators are showing solid bear momentum. If you are looking on larger picture it is still unclear is this bigger correction or is it start of bigger drop in US Dollar Index. Price is currently in support zone (red zone)...
DXY looking bullish over all, we could come down to mitigate the open(dashed line) of the last demand zone or have a deeper retracement to the last order block within the demand zone and then have the mark up
King Dollar is weak as expected foreshadowing a larger decline in 2024. But for now, a new rise into 1Q23 i see
As predicted, the Dollar index is forming a bottom on the 50% fib, and the RSI(12) week is rounding upward. I am anticipating an upward move to 104.362 on the week of 2/20/23, followed be a move to 106.281 on the week of 5/1/23. Note that the trip down from the high was a lot faster than the trip up, so it will be interesting to see if these new highs have any...
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...
AUDUSD - 8H AUDUSD - 2H AU just grab buy side liquidity, expect to toward to the order block, then have a pullback EURUSD - 8H EURUSD - 2H We had a small correction ahead of NFP (subwave 2) and now seeing subwave 3 move lower EU just grab buy side liquidity, expect to toward to the order block, then have a pullback GBPUSD - 8H GBPUSD - 2H ...
- Possible bullish pullback price movement towards the resistance 104 within the next period.
The Dollar Index is testing the key level around 101.x. This range served as resistance 7 times since 1986. All eyes are on US economic data (and Euro zone), but if the Dollar loses 101 on the monthly it likely leads to heavier downside, meaning upside for crypto
- Possible bullish pullback price movement towards the resistance 104 within the next period.
🎯 DXY has made a reversal setup. Pullback to mo and entry on CE inside breaker could work. 🟧Entry basics Never enter blindly on the level. Always put everything in a higher timeframe context. The level must be violated and the price has to do a pullback and Break of the structure. Then you look for the entry on the order block or FVG above/below 50% pullback....
DXY now we have a strong resistance zone (103.35 and 102.905), so the price will drop from the resistance zone to 102.47 because it is a strong resistance and this week the direction will move depending on the technical tactics, and to be sure if DXY closes 4h candle above 103.035 then the direction for this will be bullish but otherwise, if closes under...
My thought is that the rest of this year will see corp earnings globally slow down into slowing growth and inflation globally.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad with all due respect " Mosayeb Komasi "
Last week's interest rate hikes by the Fed, ECB, and BoE shook the dollar chart. At the end of the week, the dollar emerged as the winner against the EUR and GBP. The expected good NFP and the unemployment rate pushed the dollar close to the 103.00 level on Friday. This is a good starting position for the dollar next week, but we have not yet escaped the bearish...
Will we see a double top on the DXY or is everything back to normal? No recession and no stock market crash? The coming months will tell.
Dollar Index reached a key daily structure support this week. The price gapped down and closed below that on a daily. It turned out that it was a false breakout. The market bounced sharply on Friday, forming a high momentum bullish candle. I think that the index may go higher. The goal for buyers is 103.3 level. ❤️Please, support my work with like, thank you!❤️