Dollar Index (DXY) | Analysis of the dollar index for 2022🔥Hello traders, Dollar Index (DXY) in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
Based on the analysis, we are inside wave 4 and consider wave 4 as a triangle.
From this triangle, waves a , b and c are formed and now we are inside wave d .
Wave d is most likely zigzagged, and from this zigzag the structures of wave a are formed.
Wave a Waves 1 and 2 are over and it can be said that Wave 3 is at the end of its trend, which we have targeted in the analysis.
Wave 4 will probably move to the end of wave 1, in which wave 5 will start and move around 98000.
And after the completion of wave a , wave b is formed as a flat and wave c moves to the upper side of this triangle.
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Dxyforecast
DXYDear traders,
as I said on last weeks .. as I told you last week, DXY reached area 96300 from where it easily rejected!
in the next period I will look for SELL towards area 93 but at the first daily closing over 96,300 I will prepare for BUY until area 99 ... but for now it seems very unlikely
THIS WEEK... DXY still keeps the premises of forming a pattern that it has been following since May 2020!
Just like I told you, DXY is in a very difficult area and even if it can force you and reach the 97480 area ... I will look for SELL in the next period
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GREAT ATTENTION:
*This information is not a Financial Advice.
DXY tethering in the balance. We favour the upsideThe dollar index is holding the top of the channel and could break to the upside anytime from here. If in the off case, the macro sentiment changes, the price could break back down into the channel.
BULL CASE
Our price targets last week of 97.5 stands, price looks good at these levels if you can enter once market opens next week.
BEAR CASE
If there macro situation clears up and there is clarity on when the fed will raise rates, we should see price drop to 94.2. I'm less in favour of the bear case.
DXY looks ready for more consolidation.The DXY's breakup to the upside has been confirmed by a retest of the top of the channel and a hold. We expect to see farther price moves upwards from here. But this level is where some consolidation can happen.
BULL CASE
Price moves up immediately next week to our target levels at 97.768
BEAR CASE
We see some consolidation at the 96 level before a break up higher. If price beaks below into the channel, we will reevaluate our bias.
The Dollar $DXY going to 117-120 Next year will be the year where stagflation turns into deflation. The dollar will roar and destroy Emerging Markets. This will cause a rush to the dollar as their economies blow up. The debt bubble will finally collapse as Central Banks resort to even more money printing pushing up the dollar in response past 120. Precious metals will capitulate worse than ever seen - and will present the best buying opportunity in our lifetimes.
DXY- A lot of bullish confirmationsSince 10th November, DXY has become strongly bullish with the index breaking above VERY IMPORTANT 94.60 resistance.
If we look at a longer daily chart we can easily see that at this moment we have a major shift of trend and DXY has a lot of bullish confirmations, starting with this break, but also with a double bottom in 90 zone and, after the second bottom in June, a lot of higher lows and a major rounded bottom break.
I expect USD to remain strong for the rest of the year and 94.60 is now strong support
Rallies in EurUsd, GbpUsd, AudUsd and NzdUsd should be sold
DXYThe weekly price chart below shows the U.S. Dollar Index printed a bullish candlestick last week, making its highest weekly closing price in over one year. The price is showing weak short-term bullish momentum, and the price is of course above its levels from 3 and 6 months ago, which shows that the long-term bullish trend in the greenback is still valid. The best strategy in the Forex market over the coming week will probably be to look for long trades in stocks or commodities, or in long USD Forex trades.
DXY- Entering very strong resistance and sell zoneLast week I was wondering if we will have a break above 94.50 resistance, and indeed, we had it.
After this break, the index has accelerated its gains and now is trading near a very strong resistance and sell zone
I expect at least a correction from this zone and a drop to 93.50 support
Traders should look for buying opportunities in EurUsd, GbpUsd and NzdUsd
DXYDear traders,
As I have been accustomed to in recent months and this time my technical analysis had an accuracy rate of over 95% and I will try to continue to keep this percentage as long as possible
as I said on last weeks ...as I said last week, I will look for SELL on DXY if it closes even for 1 day below 93200 ... but because it did not make it ... DXY went up again to 94200 from where it rejected for the moment!
in the next period I will look for SELL again in the 93400 area but at a possible closure even for 1 day above the 94300 level I will look for BUY up to 96300
THIS WEEK...As I was telling you last week, DXY went down but did not reach my target in the 93200 area ... and went up again in the strong area from 94250 from where it rejected ...
in the next period I will continue to look for an entry on SELL to the mentioned area but any closure even for 1 day over 94300 ... will make me enter BUY up to 96300!
however ... I will rely on the theory of the letter W and will continue to search for SELL
NOTE: Please, give a LIKE if you find this idea useful!
GREAT ATTENTION:
*This information is not a Financial Advice.
DXY- Will we have a break?Since the end of May, DXY is trading in a clear up trend, putting in higher lows and higher highs on our chart
At this moment the index is trading exactly in resistance and NFP today could be the trigger for a break
Such a break could accelerate gains towards the next important resistance at 96 zone
DXY #Dollarindex Monthly ViewDXY (Dollar Index) on a monthly chart. We are at the long term line of S/R (Support and Resistance) and depending on which way it moves it will definitely show what will happen to the different market (stocks, crypto, housing, etc).
It's interesting to see the parallel channel formation and the trend line it is walking on since 2008.
What are your thoughts? Comment below and hit the like please. Thank you!
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk #bitcoin #altcoins
DXY , Where we are Hello guys
Are you ready for this week ??
In here , this idex is between these 2 R & S zone that shown on chart
But we have a key in chart ( key : the point of change trend ) , And now at this time the trend of idex is downward and we need best zone and area to take short position and sell
At first when the price is coming to our sell zone area then take signal like ... then take short position and sell
Dont forget use stop loss and attention to money management
Good Luck
Abtin
DXY messy structure forming. Market indecisiveA messy structure is forming up for the dollar index. Price rebounded strongly after a retest of the mid channel line and it can really go either way right now. We have a slight and short-term bias to the but price should be capped to the top of the channel and will need to take out the leverage longs before it can move higher for extended periods of time.
BULL CASE
A timebased correction where price hovers around the current levels can happen before another pump up to test the top of the channel at 95
BEAR CASE
A correction down to the 93.710 can happen rapidly and we will want to enter long at the test of the mid channel.
PS: Manage your position size, structure is messy and price range is capped. Do not hold positions for too long as we near the end of the year.
November Forecast - Continue the rally ?Currently, DXY is precisely at the trendline. There's no clear indication yet that it would reject the trendline or not. As long as it stays above the daily trendline, I reckon DXY will make a new high beyond 94 zones.
Next week we are all waiting for the US data to understand better the next DXY direction.
Catalyst:
- ISM Manufacturing PMI
- ADP Non-Farm Employment Change
- ISM Services PMI
- FOMC
- Unemployment claims
- NFP
DXY (Dollar Index) | The best area for correction♻️Hello traders, DXY in 1-hour timeframe, this analysis was prepared in 1-hour timeframe but has been published for a better view in 2-hour timeframe.
Dollar Index In the previous analysis, we considered two possibilities: in the first probability, a direct ascent to 94,000 and in the second probability of a descent to the lower side of the triangle and then a resurgence.
The first possibility occurred and the ascent was done. This ascent is related to wave c of wave 1, which is formed as five waves, and we assume that from this ascent, five waves of waves 1, 2 and 3 are complete, and now we are inside the fourth wave, wave 4 as The flat is formed and its last wave returns to the previous wave a of 2, and we assume from this other ascent point to Fibo 1.618 for wave c .
(But if the resistance or the end of wave 1 of wave c is broken, the hope of climbing decreases)
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DXY- More growth to come?After reaching a local high at 94.60, DXY corrected and dropped to 93.50 support
Yesterday, a bullish Engulfing has formed from this support and we can expect more growth in the next few days.
94.60 can be bulls target and selling rallies for eurusd, gbpusd, audusd and nzdusd can be a good strategy