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Gold struggles to gather momentum following rebound to $2,040Gold advanced to the $2,040 area in the second half of the day on Thursday but lost its momentum. Despite the renewed USD weakness, rising US yields limit XAU/USD's upside as market focus shifts to Friday's November jobs report. Gold price (XAU/USD) attracts some buying for the second straight day on Thursday, albeit lacks follow-through and remains confined in a familiar range held over the past three days through the first half of the European session. The fundamental backdrop, meanwhile, seems tilted firmly in favour of bullish traders amid growing acceptance that the Federal Reserve (Fed) is done with its policy tightening campaign and will start cutting rates as early as March 2024. Furthermore, the recent dovish rhetoric from European Central Bank (ECB) officials, along with the Reserve Bank of Australia’s (RBA) and the Bank of Canada's (BoC) decision to hold rates steady, lifted hopes that interest rates have peaked globally. This, in turn, is seen as a key factor acting as a tailwind for the non-yielding yellow metal. Meanwhile, a strong pickup in demand for the Japanese Yen (JPY) demand, bolstered by expectations for a hawkish pivot by the Bank of Japan (BoJ), prompts some profit-taking around the US Dollar (USD). In fact, the USD Index, which tracks the Greenback against a basket of currencies, corrects sharply from a two-week high touched on Wednesday and turns out to be another factor lending support to the US Dollar-denominated commodity. Apart from this, the prevalent cautious market modo turns out to be another factor contributing to the modest intraday uptick. Bulls, however, seem reluctant and prefer to wait for the release of the US monthly jobs data on Friday.
OANDA:XAUUSDLong
by dc_analytics
SPX and NDX may be getting into Golden Arches TerritoryDouble Top possibility here, expect it to be much more likely to occur if the US Dollar Index TVC:DXY moves back above the red box shown below: This has been a long-time theory - if DXY moves above the 112-114 highs from a while back, we'll see double tops across many markets, crypto and stocks. Stocks may be the first to drop as they're already approaching their recent ATHs. Should DXY move back down below 98-101, we may instead see new ATHs across markets and a sort of mega-boom before DXY eventually heads back up and leads to market crashes
SP:SPXShort
by dudebruhwhoa
DXY Index is Ready to Break the 🔴Resistance zones🔴✅It seems that the DXY Index finally managed to break the Descending Channel that it was in for more than one month . 💡I expect the DXY Index to take the help of the Uptrend line to break the Resistance zone ahead and it can break the minimum 🔴 Resistance zone($104.20-$103.98) 🔴. 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
18
🗺️DXY Index Roadmap🗺️⏰(4-hour time frame)⏰🏃‍♂️The DXY index has been moving in a Descending channel for a month . 🌊According to Elliott's theory , it seems that the DXY index has completed its 5 downward waves near the lower line of the descending channel after breaking the 🟢Support zone($103.78_$102.93) 🟢. 💡Also, we can see Regular Divergence(RD+) between two Consecutive Valleys . 💡I expect the DXY index to move towards the upper line of the descending channel and in the first step, we have to wait for the middle line of the descending channel to be broken ( the middle line has already played the role of support and resistance ). 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
13
DXY A lot of bullish indicators are taking place.The U.S. Dollar Index / DXY crossed today over the Falling Resistance of November's downtrend at the same time the 1day RSI broke above its own Falling Resistance. This is a bullish signal at least on the short term, but the Bullish Cross on the 1day MACD certainly is one for the longer term. The long term pattern is a Channel Up but the short term is limited to the 1day MA50, which is where the July's rebound made a first stop. Buy this break out and target 104.950 which is the top of the Supply Zone consisting of the 0.382 - 0.5 Fibonacci range. Previous chart: Follow us, like the idea and leave a comment below!!
TVC:DXYLong
by TheCryptagon
DXY Analysis - Monthly & Weekly Timeframe (ICT Concepts)Reacted BEARISH off of PREMIUM with hard displacement. Now looking BEARISH at DISCOUNT zones. 3W candle closed below a Bisi 3W, but reacted off of lower Bisi 3W. Based on this timeframe, I want to see if price wants to move towards the higher disrespected Bisi 3W and then react bearish. That disrespected Bisi 3W is almost a 1M Bisi. It would make the most sense that if price were bearish is for it to come to a PREMIUM zone for that swing range into the Bisi 1M (BPR) before heading lower. The bias is not concreate at the moment, so be wary of any change in narrative during high-impact news drivers and the general structure on lower timeframes. Lower timeframe may present long opportunities to this shorting POI, but price may create a Sibi first. - R2F
TVC:DXY
by Road_2_Funded
DXY (Dollar$) Shorts down to 101.500The bias for the dollar this week remains bearish, leading me to anticipate further downward trends. Near the current price, there is a supply zone on the 3-hour chart where we'll wait for price redistribution. Following that, we'll await confirmation on a lower timeframe to execute the sell trade. Additionally, I anticipate a minor reaction from the 13-hour demand zone, presenting potential small buying opportunities. Subsequently, we anticipate the price to continue its descent and then respond to a 3-hour demand at 101.500. This is where I expect the price to retrace upwards, providing a more favourable opportunity for a buy trade. Confluences for DXY Shorts are as follows: - The short term trend currently is bearish (with perpetual BOS's to the downside.) - Trend lines below act as magnets, pulling the price downwards and encouraging a bearish continuation. - To evoke a bullish reaction from the price next, there's a strong demand zone on the 3hr time frame. - A clear 3-hour supply zone sits above the current price, where we can expect a bearish response. - By the candle stick anatomy bearish candles are very strong, holding lots of momentum. P.S. I also observe the potential for the price to rise, targeting a more favourable supply zone like the (7hr) to initiate a robust bearish movement. Despite the strong bearish trend currently, we will primarily seek opportunities aligning with the trend. However, the next viable counter-trend trade would be at the 3-hour demand level around 101.500.
CAPITALCOM:DXYShort
by Hassan_fx
1
Gold Has Broken and Is Staying Above US$2,000Why has gold broken above the $2,000 level? And why is it likely to stay this way for a long time? This is because the USD has been weakening since October, and we can observe an inverse relationship between them during this period, as well as in previous periods. Micro Gold Futures & Its Minimum Fluctuation 0.10 per troy ounce = $1.00 Code: MGC Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
ICEUS:DX1!
by konhow
2
The Dollar & EURUSD Are Pulling Back |Will It Last? Hi friends, the dollar index (DXY) and EURUSD are pulling back and into areas where we want to look for more trading opportunities. Since tomorrow is Friday, tomorrow's candlestick closure could be very telling about the price direction. This video shares my thoughts on the price movement on the indicie and currency pair. If you found this helpful please like and share this video. Disclaimer: This analysis is based on my eyes. Please stick to your own analysis.
TVC:DXY
by ShaquanLopez
DXY's Recent Shifts: Insights and ObservationsD ear Esteemed TradingView Community, I'm sharing my recent analytical insights into the movements of the Dollar Index (DXY). Please note that the following reflections are not financial advice but rather a comprehensive analysis based on my observations. This week, DXY experienced a notable descent, and my analysis, driven by AI natural language processing, suggests a correlation with global news developments. Strikingly, the influence of news events appears to have a more significant impact on price action than technical indicators. As DXY found its way down, it eventually landed in a support zone. While this decline signals a bearish sentiment, it's crucial to recognize that the current position also places DXY in a support zone. Historical data indicates that predictions originating from support zones tend to favor upward price trends. Although some indicators still hint at a potential bearish outcome, extending downwards to the underlying support zone around $101 (as indicated by the blue rectangle), this zone might also act as a reversal point. Notably, the current support level aligns with the Exponential Moving Average (EMA) of 200, adding a layer of significance to its potential impact. In this scenario, careful observation becomes paramount. One can monitor whether the price breaks below EMA 200, potentially signaling a short position with a target at the underlying support zone. Conversely, a long idea could play out if the observed support level, coinciding with EMA 200, acts as a shield, propelling DXY upward. It's essential to exercise caution when contemplating short positions from the current level, given its classification as a support zone. The risk-reward ratio may not favor such a strategy at this juncture. Adding a layer of complexity to the analysis is DXY's correlation with the stock market. The potential for DXY to follow a bearish trajectory could be heightened by a flourishing stock market. Conversely, a bounce in DXY might indicate a retracement in the context of a thriving stock market. In conclusion, the intricacies of DXY's current position warrant careful consideration. The interplay between support zones, technical indicators, and global events introduces a degree of uncertainty. As we navigate these waters, it's crucial to remain vigilant and adaptable in our approach to market analysis. With regard and an understanding heart, Ely
TVC:DXY
by Elysian_Mind
DXY: Under the 1W MA50 indicates a long term selling opportunityThe U.S. Dollar Index closed last week under the 1W MA50 for the first time since August and that signals the bearish extension of the decline that started on the October High. Naturally, the 1W technical outlook has turned bearish (RSI = 42.067, MACD = 0.190, ADX = 46.054) but the 1D is oversold (RSI = 29.749) and calls for a rebound in order to harmonize this state near neutral numbers. That matches very accurately the behavior of DXY after every 1W MA50 bearish breach (circles on your chart) as after the break it always consolidated with a small rebound and then resumed the sell to extend to a new Low. In May 2016 that stopped on the S1 level but in the next two occassions, it made two new Lows on the LL trendline. Consequently our long term target is the S1 (TP1 = 99.550). Then as long as the price doesn't cross over the 1W MA50, we will resell on the bounce and target the LL trendline (TP2 = 96.450). See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:DXYShort
by InvestingScope
EUR USD Idea Greetings, fellow traders, investors, and enthusiasts! We've been patiently awaiting a short opportunity on EUR/USD for a week, and now we've identified target levels. While we've seen success with bullish trades, we're anticipating a break and downward movement, just as we discussed a month ago regarding this controlled price. However, the current scenario has EUR/USD and the dollar out of correlation, which isn't our favorite situation. It's the Christmas season, and markets can exhibit natural behavior during this time. Yet, it can be frustrating to stand around, watching 4-hour candles without making significant gains. Patience, as always, is the key in this game, and sometimes, scalping becomes the order of the day. For those of you who've had successful bullish trades, congratulations! Enjoy the profits, especially as the festive season approaches. Christmas is just around the corner, and we're planning to double down on scalps as much as possible. But hey, we recognize our addiction to charts might not be for everyone. Don't be like us, indeed! Wishing you all a successful trading season and a joyful upcoming holiday. May your charts be clear, and your profits be plentiful! Until next time, trade wisely.
Short
by themarketknight
Dollar Index (DXY): Important Key Levels to Watch 💵 Here is my latest structure analysis for Dollar Index. Resistance 1: 103.86 - 104.20 area Resistance 2: 104.40 - 104.55 area Resistance 3: 104.87 - 105.08 area Resistance 4: 105.90 - 106.11 area Support 1: 102.57 - 103.08 area Support 2: 101.40 - 102.01 area Support 3: 100.47 - 100.57 area Support 4: 99.55 - 99.75 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️
TVC:DXYShort
by VasilyTrader
1
DXY update roadmap for trading heloo dear trader I am waiting for the fall ... my road map on this chart What is institutional price action? It's a tactic most often employed by institutional and retail traders. Generally, these traders use leverage to place large trades on the basis of small underlying price movement. The short-term nature of these trades makes other strategies, such as technical or fundamental analysis, less effective. stop loss need for any position goodluck... mehdi
TVC:DXYShort
by mehdi_kb
DXY The bottom is near. Excellent opportunity.The U.S. Dollar Index has been declining since the October 3rd High and is now under the MA200 (1d). The RSI (1d) is nearly oversold and is double bottoming on the 30.00 level, while the price is approaching the 0.618 Fibonacci level of the July 14th bottom. That will be a -4.50% decline, comparable to all three major decline of 2023: -4.55%, -4.85% and -4.88%. Trading Plan: 1. Start buying on the current market price with a maximum extension up to -4.88%. Targets: 1. 105.500 (the 0.618 Fibonacci level), can even extend as high as 106.200 (near the 0.786 Fibonacci level like the High of May 31st). Tips: 1. The CCI (1d) is posting a Bullish Divergence on a Rising Support, like those of March-April and late January. This indicates that a final tick downwards is possible before calling it a bottom. But a strong indication to start buying already an oversold price level. Please like, follow and comment!! Notes: Past trading plan:
TVC:DXYLong
by TradingBrokersView