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Usdshort

USDCAD, price topped out, short term correction to form. Hi Traders, Looking at the price action on USDCAD, you can see a few bullish continuations which bulls took off, however has seem to fail to push any higher. Instead, we saw a reversal Impulse which should give us a short term correction. I do expect another leg higher in next coming week or so, keep an eye out on this pair for the next impulse. Good Luck! I would love to hear your analysis on this pair. Share a comment below and let's discuss it. Thanks!
Short
by ktlfx
USDCHF WEEKLY SHORT Strong Down Trend Leg On Weekly Leg1 Start Price: 0.98491 (open) Date: March 23rd 2020 End Price: 0.89027 (close) Date: Jan 04th 2021 Leg 2 (Entry Sell) Entry: 0.93386 Stop Loss: 0.94602 Date: 17th March 2022. Take Profits: Price has been stuck in a sideways range since 22nd Feb 2021. This is a weak pullback in based on structure and price action. Price Action stated that strong trends usually take the form of TWO with trend legs. WAIT to enter on a Low 1 entry on the 4HR TF (@0.93386). Take Profit Calculation: Fib Retracements Fib Extension of previous weekly Swing High: (March 4th - 16th) Target 1 = 0.8999 (R;R = 2.98) Target 2 = 0.87418 (R:R = 5.49) Fundamentals Backdrop Short USD ~ High Inflation ~ Debt from Stimulus and Ukraine Aid ~ Swiss Frank is risk off currency ~ Swedish Central Bank is keeping interest rates at current levels which is Less hawkish than US Fed Quantitative Tightening Fiscal Policy. Cheers! First Trade Post Ever! :)
Short
by hgidharry
3
Dollar index in the near futureThe dollar index is approaching a resistance. At the same time, divergences can be seen in the indicators. In case of reacting to this resistance, this index can initially drop to around 93.5 and if it breaks its white support line, it may fall to 92. But if this resistance is broken by the good news, this analysis will be rejected. Technically, there is a high probability of a fall, but for this we have to wait for the news. A lot of news is on the way this week. If this analysis helped you, please support us with likes and comments. Thank
ICEUS:DX1!
by farshadtn
DXY Trend Direction Breakdown - Aug. 2nd, 2021DXY confirmed bearish on a break of 91.980. Using structure to determine 90.581 as my current farthest short target, with multiple levels/zones to pass through first; shorts started around 92.186. Price retests and ranges within 92.186 - 92.333 are stuck in a zone that I personally will not attempt to trade within. The bullish trend was held above 91.800 at first, and just recently adjusted higher to 91.980, which weakened the overall previous trend and caused me to switch to a bearish bias. My personal new long orders would start around 92.333 with the current farthest target being 93.088, with multiple levels/zones to pass through. Analysis referenced the daily, 4h, 1h, with 4h being the main reference.
TVC:DXYShort
by TonyAiello