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Dollar

Where is the Dollar heading next ?• Dollar has been showing weakness in recent weeks as markets are expecting the FED to deliver its first rate cut in September. • The index fell from levels near 106 to 103.60 and then corrected to 104.90 (50% Fibonacci retracement). • If the jobs report tomorrow shows additional weakness, the Dollar should face selling pressure and break the previous support at 103.60 potentially down to 102.41. • Breakouts are occasionally re-tested. Therefore, the index could potentially breakdown to 102.41, re-test 103.60 and then make another leg lower and so on. • Same principle applies for upward breakouts, which should be the case if the jobs report points to increasing wages and tight labor market.
TVC:DXY
by RamziAbouAbdallah-CMT
The USD and US bond yields immediately decreased.The DXY index - measuring the fluctuation of the USD compared to six major currencies in the world - decreased from 104.8 points (8:00 p.m., July 30) to 103.94 points (8:00 p.m., July 31, Vietnamese time). Male). Thus, there are more positive signs for the US economy. This is a factor that may cause the US Federal Reserve (Fed) to have a plan to lift monetary policy at a faster pace to ensure the US economy does not fall into recession in the future. Accordingly, in July the number of jobs created in the US was 122,000 jobs, lower than the forecast of 147,000. The USD and US bond yields immediately decreased.
TVC:DXYLong
by FalCol_TradingMaster
DXY: Anticipating Long Opportunities Amid Fed Policy and NFP RepThe US Dollar has experienced a decline due to expectations that the Federal Reserve will deliver dovish guidance in its upcoming policy statement. Investors anticipate the Fed will recognize progress in curbing inflation and highlight growing risks to the strength of the labor market. Following the Fed's policy announcement, the US Non-Farm Payrolls (NFP) report for July will become the crucial trigger for the US Dollar's movement. In our analysis, we've identified a potential demand area around $103.177. At this level, we are opening our first long position with a minimum target of 2R. Should the price continue to fall, we are prepared to shift our focus to the next demand area at $101.422 for additional long opportunities. Given the current market conditions and our analysis, we are strategically looking for long positions on the DXY, anticipating a rebound from these key demand areas. ✅ Please share your thoughts about DXY in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
TVC:DXYLong
by FOREXN1
1
EURUSD 28/7/24This week in the EU, we are looking to meet a couple of key points. Overall, we are focusing on the price shifting back into the bearish higher timeframe trend. Currently, the price has been moving lower. We opened up a gap on the daily timeframe, indicating a likely drop. Since then, we have moved lower and created short-term liquidity lows, suggesting the price will sweep out these levels and continue its downward movement. The key points we want to see met this week are as follows: 1. Price to sweep out one of our short-term highs and create a BOS (Break of Structure) downwards, giving us a clean sweep and break move. 2. We have an area of supply that we may tap into. If we reach this high, it would be ideal for short moves and selling positions. 3. If we tap into this supply and break higher, I will look for the daily high to be reached. We are more inclined to see a sell move to follow the higher timeframe trend. The target for this short move is the demand zone marked in green and the liquidity low marked just above that zone. Ideally, this zone will fail, and the price will move lower. However, we may react at this zone and go higher. We will follow what the price shows us! Follow your rules and stick to your plan! Trade safe.
by PipSurfingSociety
(DXY) Dollar - Break out pending from its consolidationThe DXY is currently in a consolidation phase, and I expect it to break out soon. Regardless of the direction, we have marked points of interest (POIs) that will help us capitalize on trading opportunities. - Scenario 1: Price Breaks Upwards If the price breaks above the consolidation, I anticipate it will fill the imbalance and tap into the supply zones marked on the 30-minute and 8-hour charts. - Scenario 2: Price Breaks Downwards If the price moves down, I expect it to mitigate the 16-hour demand zone. This zone appears to be a strong buy setup, likely pushing the dollar back up. There’s also an imbalance above this demand zone that needs to be filled. Overall, I am favoring an upward move, as this aligns with my bearish outlook on GOLD, EUR/USD, and GBP/USD.
TVC:DXYLong
by Hassan_fx
DXY:Will Fed Cut Rates in September?Hey Traders, In today's session, we're eyeing a potential selling opportunity in the DXY around the 104.600 zone. Currently, DXY is in a downtrend and is undergoing a correction phase, approaching the key support and resistance area at 104.600. From a fundamental perspective, the downtrend in inflation and easing economic conditions in the US suggest that a rate cut might be on the horizon in September. This dovish environment could weaken the dollar further. Stay cautious and trade safe, Joe
TVC:DXYShort
by JoeChampion
7
GBPUSD Medium cycle GBPUSD was in the bullish channel and now its broken that and its on a supportive level. According to my last idea, i said if its hunt the channel sooner that we expected its show the bearish trend power. Then the bullish channel broke. but now the price on a supportive level and i think the trend can reversal. also the DXY confirm that because its in a resistance level. its show dollar will be weak. Its just my personal comment please don't trade whit this. I have no responsibility for your money.
Long
by Arco-ir
DXY - 4H bullish soonDXY is currently consolidating under a support zone, but from my perspective, this is just a stop-hunting trap. The bottom of the channel is likely to provide strong support for the index. Historically, such setups often lead to a reversal, and the current price action suggests a similar outcome. Additionally, with the US government likely to support their currency before the upcoming election, this could be a critical time to watch for a bounce. It's essential to consider the broader economic and political context, which may drive the dollar index higher, especially if the support holds and the consolidation phase concludes.
TVC:DXYLong
by Sober_Trading