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EurUsd Breaks structure.. to 1.057 Monthly Level?Hello Traders. EurUsd has been ranging for the last 3 weeks ever since May CPI data. We attempted to break to the upside last monday but this resulted in a failed breakout and better than forecasted US Jobs data pulled USD down with strong momentum. Price retreated all the way to the bottom of the daily range on friday at 1.08 Daily support level. It appears this momentum has sustained itself as price gapped down over the weekend and we observed a further selloff during the first trading session of the week , moving another 25 pips. I do see some buying pressure off 1.07478 moving into London trading and to begin the week. Looking at the June Monthly candle, we are just pulling straight down thus far. Can we extend to the bottom of the Monthly range at 1.057? It seems likely the dollar will remain strong for some time given the strong labor market data and the Higher for Longer Interest rates concept. Safe trading.
Short
by ShrewdCatfx
US DOLLAR INDEX The us dollar index opened with a gap. today the us dollar index which was closed at 104.94 opened at 105.5 with 11 point gap. this gap may be an indication that us dollar is going to resume its upward momentum this week which it has started on last Friday. if this momentum continues it will be a fall for xauusd. more clear cut analysis will be posted soon . but please post your comments which will be helpful to understand what the crowd thinks and thus understand market sentiments. LIKE BOOST FOLLOW US
ICEUS:DXYLong
by realmillionairefx
DXY Intra Day Play 03.06.2024On the 15 M Chart for the day we are seeing the greenback break out of the descendi trangle wedge to the upside at 104.700. The market is still waking up from the weekend's pause so there are no major movements to give us clear indication that this continuation will sustain itself other than liquidity sweeps from the previous weeks. I am keen on seeing this breakout continue as it will give me further conifrnation to enter sells on EUR/USD which has broke below the asian low and has now found itself adncing below the 200ema. Chart: I am also keen on seeing this corrolate with Gold and Silver who are also both showing signs of trading below last week's POC levels Silver: Gold: This will make it a rather interesting start to the week,,, especially if the PMI results do come back as forecasted at 49.8 or even stronger this afternoon when the US Market opens up. Hope you have a great day and that your screens are green. Let me know what you guys think. Happy Trading.
TVC:DXYLong
by FXCapitalClub
DXY Trading Plan for the week 03.06.2024Good morning traders. 🥳 Hope you all had a great weekend and ready for the week ahead. A quick glance at the charts this morning and the dollar has reset back to the POC levels it entered last week with and on the 12 hr we can see that we are now forming a descending triangle which means that if we break above 105.000 we could see a continuation to the upside targeting key level 106.507 and if we break below 104.408 then we will see a continuation to the downside targeting 102.686. I'm quite keen on seeing the dollar reach key level 104.209 to which I will be looking for Buy's on EUR/USD, Gold and Silver throughout the week. We've been in a range across the other assets as well so this week could definately be a breakout week to the upside for all dollar pairs if that's the case. Hope you have a great day and that your screens are green. Happy Trading. 📊
TVC:DXY
by FXCapitalClub
Dollar Loses Shine as US Economy Shows Signs of CoolingThe tide may be turning for the US dollar. After a period of strength, investors are growing less optimistic about the greenback as recent economic data suggests a slowdown in the US economy. This shift in sentiment is reflected in positioning data from the Commodity Futures Trading Commission (CFTC), which shows a net short position on the dollar for the first time in six weeks. Signs of a Cooling US Economy Several factors are contributing to the cooling sentiment on the dollar. Recent economic reports have indicated a potential slowdown in the US. Growth may be decelerating after a strong 2023, with factors like inflation and rising interest rates potentially impacting consumer spending and business investment. The Federal Open Market Committee (FOMC) has embarked on a series of interest rate hikes to combat inflation. While these hikes are intended to curb inflation, they can also have a dampening effect on economic activity. Businesses may be hesitant to borrow and invest, and consumers may tighten their belts as borrowing costs rise. CFTC Data Reveals Shift in Investor Positioning The CFTC data provides valuable insights into investor sentiment on the foreign exchange market. The data tracks the net long or short positions held by leveraged funds, which include hedge funds and other large speculators, and asset managers. According to the latest CFTC data, leveraged funds still held some net long positions on the dollar last week. However, this bullishness was outweighed by a significant increase in net short positions held by asset managers. This shift in positioning resulted in a combined net short position of $5.36 billion as of May 21st, compared to a net long position of $2.02 billion just a week earlier. Market Implications of the Dollar's Decline A weaker dollar can have several implications for the global economy. It can make US exports more competitive, as they become cheaper for foreign buyers. Conversely, imports into the US become more expensive. This can potentially lead to higher inflation in the US as the cost of imported goods increases. A weaker dollar can also impact other currencies. If investors lose confidence in the US economy, they may seek refuge in other safe-haven assets, such as the Japanese yen or the Swiss franc. This could lead to a strengthening of these currencies relative to the dollar. The Road Ahead: Volatility and Data Dependence Analysts expect currency positioning to remain volatile in the near term. The direction of the dollar will likely hinge on incoming US economic data. Strong economic data could reignite bullish sentiment on the dollar, while further signs of a slowdown could exacerbate the recent decline. The FOMC's monetary policy decisions will also be closely watched. If the Fed signals a more aggressive pace of rate hikes to combat inflation, the dollar could find support. However, if the Fed slows down the pace of hikes or even starts cutting rates in the future, as some analysts predict, the dollar could weaken further. Conclusion The recent decline in bullish sentiment on the dollar reflects growing concerns about the health of the US economy. The CFTC data highlights a shift in investor positioning, with a net short position emerging for the first time in six weeks. The future direction of the dollar remains uncertain and will depend on the trajectory of the US economy and the Fed's monetary policy decisions.
TVC:DXYShort
by bryandowningqln
XAU/USD Monday Trades ReviewToday's Trade Summary 📊 2x Trades Taken (1x Win & 1x Break Even) 📈 EUR/USD failed to gain enough momentum when the NY markets opened, so we closed for break even to protect our profits. XAU/USD (Gold) hit TP 1 for a 98.5 pips move, with all profits taken off the table at this time of writing, equating to a 1:1 Risk Reward gain. 💰🏅 I still expect XAU/USD to move to the upside, but I'm always a fan of securing the profits and being risk-free. I had 10% left in the trade, and I prefer to exit completely, enjoy the rest of the evening, and protect my psychology with a clean win to head into tomorrow's trading day positively. 📊😊 Hope you all had a great day and will catch you in the AM for tomorrow's trades. 🌞 Capital Club Team 💼
OANDA:XAUUSDLong
by FXCapitalClub
DXY Index is Ready to Pump by 🌄Morning Candlestick Pattern🌄🏃‍♂️DXY Index is moving near the 🟢 Support zone($104.27-$103.90) 🟢, and 200_SMA(Daily) and 100_SMA(Daily) , and the lower line of the ascending channel . 💡Also, the Morning Candlestick Pattern is clearly visible. 🌊According to the theory of Elliott waves , it seems that the DXY Index has completed the Double Three Correction(WXY) in the support zone . 🔔I expect the DXY Index to rise to at least the Resistance line . U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-hour time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
TVC:DXYLong
by pejman_zwin
5
Expecting Some Strength In The US DollarBased on the chart, here are the reasons why I would consider buying the dollar index: Uptrend Resumption: The dollar index has been in a steady uptrend since the beginning of the year, and after a brief correction, it appears to be resuming its upward trend. Buying into this momentum could be a profitable strategy. Support Held: The index has bounced off a significant support level, indicating that buyers are stepping in to defend this level. This could be a sign of strength and a potential buying opportunity. Bullish Reversal Pattern: The recent price action resembles a bullish reversal pattern, such as a candlestick rejection, which could be a sign of a trend reversal to the upside. Fundamentals Align: The dollar is often seen as a safe-haven currency, and with global economic uncertainty on the rise, investors may be seeking refuge in the US dollar, driving its value higher. Major Level Holds: The index has held above a major psychological level (104), which could be a sign of strength and a potential launching point for a further rally. These are just some of the reasons why I would consider buying the dollar index. However, it's essential to conduct thorough analysis, consider multiple perspectives, and manage risk before making any trading decisions.
TVC:DXYLong
by LeoDante_FX