Possible Goals For The US Dollar - DXYHow far will the US Dollar fall?
A first and sound goal is this open gap at the level of 98.99.
After closing the gap the DXY will perhaps change it's direction and start moving bullish.
I think this is a good way of orientation for all other major pairs.
What are you thinking about?
Any comments are welcome.
Good luck and a lot of pips for you all!
Usdollaranalysis
Prepare your USD longs!From the chart we can see that the US downtrend will probably end around the 3rd of Feb. A bounce around 12200 and break from the red line, would clearly indicate the end of the pullback after the strong USD rally.
Many important news are coming at the end of this week and during next week, which could really speed things up depending on how good or bad they are for the US trading pairs. I don't expect the fundamentals to be that bad for the US economy and I think the most important things to look at is the FED meeting on the 1st of Feb, as well as the unemployment, non-farm payrolls and the ISM non-manufacturing data on the 3rd of Feb.
www.dailyfx.com
$USDOLLAR Bullish Wolfe Wave @ Geo's Off-Set RuleHello Traders,
A while back I posted a Bearish Wolfe Wave on the Dollar Index(Linked below). That is a weekly view of strength of the dollar. Zooming in we can see that the dollar is not quite ready to make a move to the downside.
Here we have a perfect setup for a bullish move.
1. The larger Wolfe Completed at 5'. This give the Geo's Off-Set Rule @12211 as a target.
2. The smaller Wolfe Wave in the triangle also gives a signal of bullish moves ahead.
If you'd like to learn more about the Wolfe Wave and Geo's Off-Set rule you can visit the links below:
wolfewave.com
www.tradingview.com