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U.S. Dollar Index Futures

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DX1! trade ideas

Yellen’s new appointment and future of American DollarDollar bears love hearing that Joe Biden (if and when he takes control of the White House) will appoint Janet Yellen as the next Treasury secretary, making Yellen the first woman to hold the position. Traders see Yellen as a "dove", meaning she should be very accommodative and a strong proponent of rates staying lower for longer. Also, since she was formerly the Fed Chair and leader for the Council of Economic Advisors she will create a strong working relationship across the financial industry. Perhaps more than anything the market fully understands how Yellen communicates and views the economy. Remember, Yellen was Vice Chair under Fed Chair Ben Bernanke, during which they navigated the economy through the 2008 financial crisis. As Fed Chair, she maintained the Fed's ultra-low rate policy well into 2015 and presided over a period of tremendous job growth. Keep in mind, the head of the Treasury is typically the one negotiating with Congress on behalf of the White House, so it's seen as one of the most critical roles right now. Let's also not forget we have some serious political uncertainty still in the mix during the next 45-days. with the run-off Senate election in Georgia, and the ongoing debates and recounts surrounding the Presidential debates. This week we are waiting for Retail sales, the Empire State and Philadelphia Fed manufacturing surveys. Negative numbers plus virus cases rise, and lockdown fears may bring the dollar to new lows. With all that in mind, I want to focus on the monthly chart of the American dollar. It has a flagging pattern similar to the one we saw in 2017. Taking into account all the fundamentals, there is a big chance to see another breakdown in a long-term perspective. However, we are getting close to the end of the year, and the risk of potential massive profit booking is increasing. Closing of big positions may result in a rally to 96 range. I believe the 4h chart is the best option to focus on.
ICEUS:DX1!
by UnknownUnicorn1156963
6
Multi symbol analysis (weekly) : DXY seems to be moving lower!Now that the US elections are behind us, all the intentions of the weekly chart of US DOLLAR / DXY seem as if it's going to move lower! It is forming bearish order blocks (on Weekly), trapping longs all along the way since March 2020 & also there are a bunch of shorts trapped from April 2018 timeframe that would love an exit. Till price action reaches those zones, DXY is heading lower! What this means? USDXXX pairs to move lower XXXUSD pairs to move higher Equity to head higher Another reason DXY could head lower is if more stimulus gets announced for the US economy. I'll add more evidence from other forex pairs about why I think this move could be verified. PS : Another way DXY could move is in a consolidation - as below the current price, we have unidirectional price movement from Apr 2018 timeframe - which could counteract lower movement.
ICEUS:DX1!Short
by makuchaku
DXY (Dollar Index) 4H : Trapped buyers waiting to exit : SHORTTrade setup DXY (Dollar index) has trapped buyers at the top. When price comes back to this zone, they'd love an exit - giving us a short trade in the process. Risk management 1) Reduce 50% at 1R => Trade becomes risk free 2) Reduce further 25% at 2R AND move SL to break-even 3) Close trade at 3R 4) Winner = 1.75R Strategy Pickup a pair which is highly correlated to DXY (if trading DXY, ignore the correlation part) AND Wait for market structure to break, then trade the retest of that zone. Zone is drawn using the first candle which crossed the pivot high/low to begin trapping the traders AND Liquidity in form of equal highs/lows should not be present behind the stop loss AND Since the pair is highly correlated to DXY , the formation of HH/LL in DXY should support the trade's direction at the time of zone's formation
ICEUS:DX1!Short
by makuchaku
Dollar Inverted Head and Shoulders into Possible Cup & HandleHere we have several bull patterns on the dollar futures. First we established and broke out of a bull pennant, Then we moved onto another bullish pattern, inverted head and shoulders, and now we've developed a cup. Is this a handle that formed on the cup? Whichever way you look at it, this is very bullish price action on the dollar. What I'm looking for is the price to break through resistance and into the blue channel while flipping the resistance into support and ultimately capturing the top of the blue channel. ICEUS:DXY
ICEUS:DX1!Long
by jakelikesstocks
weekly in dollar index , 100 is very very important level (best place for sell) AC(or stoch 5-3-3) show pressure on dollar is down (AC 240min show + pressure) but for 2nd wave of corona , dollar 80% will go to up to 100 (put buystop on 4hour last high) (20%) if it can break low(91.5) can go down , so put sellstop in low ,buylimit near 88 effect on gold = gold can touch 1800 (heavy buylimit on it)and go to 2000then 2200 then 2400 forex= i feel (80%)dollar in forex (until end of 2021)will go down and euro,gbp will grow up
ICEUS:DX1!Long
by ramin_trader2006
Time for the USD to rise...Previous talk about USD destruction, etc. have come a long way, and the USD indeed has devalued due to fundamentals. However, it broke out of a falling triangle/wedge, tested and is on the break out. For whatever reasons, the skew in the markets have pushed the USD too far down, and it is time for a USD rise. Clearly, sparked off by fear and such... so much so that bonds, precious metals and crude will be affected. In retrospect, in mid-September, the signal was given as a preemptive warning. Now, it is in a true breakout and should have its effect on dropping Gold and precious metals such as Silver. Crude would suffer. Bonds should be in good demand, etc. Technically, the MACD (middle panel) is already showing support. The BMT (lowest panel) showing the relative strength and momentum is also breaking up with gusto, in good support for a size-able run up. The USD Index is about to have a massive run up towards the end of the year, targeting 102 possibly, based on chart pattern break out.
ICEUS:DX1!Long
by Auguraltrader