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DXY - Febuary Price Action Analysis on the DailyHi guys. As everyone knows DXY is inversely related with all RIsk ASsets. We've seen the major markets and crypto start consolidating and falling in price. As the Dollar rallies. This is on the Daily timeframe. Ive drawn 3 trend lines which i followed closely to make sure i take profits in my trades across the boards. First line we broke was the white trend line. Which pushed us to the next line, the red line. There was tremendous momentum seen with the size of the candles, especially the size of the one that broke out MASSIVE! We fought that for a couple days and ended up breaking through to get to the last trend line, the Orange line which coincides with our downtrend from the September highs. This indicates we may have changed trends from downtrend. Our next target is the white horizontal resistance line . Watch how DXY reacts here. ~Im in the camp that we will get rejected here in the short term when we reach.~ BUT if it consolidates around it, like price action did with the red line, it can break through. ANd come down to test support on either: 1. On yellow horizontal line 2. Or the Orange slanted line Indicator: Also if you notice the RSI, as we were breaking the white trend line, it broke above the yellow moving average with force, and created a higher high from the previous high of the RSI. This also show cased that we would move further up in price and break the red trend line. We are also getting to overbought terroritory on RSI marked by the 70 level or dashed line. And We've been above the yellow MA for some time now, eventually to come back to test it and move below it which would possibly coincide with when the broader market stops consolidating. This can also coincide with not breaking the white trend line in the shorrt term. Lets see whats up! Hope this made sense. Please comment, like and follow! Check out my other dxy ideas LINKED BELOW. Let me know what you think and where the market is headed! Thanks. Disclaimer: This is not financial advice and i am not a financial advisor. This is my opinion based on TA.
TVC:DXY
by SafofAllTrades
USD Index Targets 104.820 After US Federal Reserve Meeting?We have learned that almost all US Federal Reserve officials backed a 25-basis-points rate hike at the last FOMC meeting held on January 31 to February 1. Only a few officials favored a larger 50-basis-points hike at the meeting or said they "could have supported" it. Even so, many more dovish sentences were spoken in the latest meeting than compared to the December meeting. Although, officials did not go as far to consider a pause in rate hikes. The only time this topic was broached was in reference to foreign central banks and their potential strategies. Of course, the meetings also showed the obligatory note that, although the rate hikes have started to ease inflationary pressure, officials agreed that there was much more work to do to get inflation under control and were definitely aware of the risk of not doing enough, so the drip of dovish language will likely continue for some time before a dovish outlook overtakes a hawkish. Especially, because the meeting took place before the release of the hotter-than-expected jobs and retail sales data from January. This might go some way in supporting the USD in the short to medium term. Looking at the DXY after the release of the minutes, it looks to have helped the USD index push into the mid 104s, where it is encountering some resistance. The index only has to break into 104.700 to eclipse its recent one week high and return to its month high. A target above this range could include 104.820, which aligns with the 200-EMA and some peaks reached in January.
TVC:DXY
by BlackBull_Markets
1
DXY Chart Analysis.... DOLLAR INDEX MY VIEW- N.B- In this situation DXY chart create Bullish Flag Pattern's breakout @104.360. resistance level, then market Buy UP to 105:000; @ 105.500 and 106:000 resistance level. Then market need seems sell correction to nearest Support 105.500 level. AronnoFX will not accept any liability for loss or damage as a result of reliance on the information contained within this channel including data, quotes, charts and buy/sell signals. If you like this idea, do not forget to support with a like and follow. Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad.
TVC:DXYLong
by AronnoFx
2
DXYWe see the breaking of the trend line with a higher slope, due to the breaking of the 102.2491 range It can be expected to be touched around the second trend line with a lower slope. 1-102.7198 2-102.2491 3-101.3775 Objectives based on pivot points: 1-104.7767 2-105.3868 3-106.1712 It is not necessary to touch all the targets. If you have the confirmation for the negative divergence and the above candle, you can get the confirmation of entering the upward trend from the bottom time.
CAPITALCOM:DXY
by maryammh
Watching the DXY for Bitcoin Direction...The DXY is at a pivotal point here, and potentially breaking higher into a new upward trend channel. This would be bad for Bitcoin and crypto overall as the DXY has a strong inverse relationship. If the DXY stays in this area and drifts lower we could see a short-term crypto rally including Bitcoin and Ethereum. If it breaks up above the 103.5 to 104 level, then we're into a crypto pullback zone. If we continue dropping back into the downward trending channel then we're in the crypto rally a zone, and possibly even down below 100 into the crypto super pump rally zone. Hard to say here...
INDEX:DXY
by BrettFogle
DXY is set for a rise!Currency Pair : DXY Possible direction : Bullish Technical Analysis : After market opening DXY has broken out the resistance with strong liquidity grab from the strong support zone. it is highly likely price will continue to rise as long term trend is bullish and we have seen multiple liquidity grab along the way Possible trade recommendation : Bullish as per chart sketch Press like button if you enjoy. Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and is not suitable for all investors. Past performance is not indicative of future results. The high degree of leverage is dangerous and can work against you as well as for you. Before deciding to invest in foreign exchange or any market you should carefully consider your investment goals, level of experience, and risk tolerance. It is EXTREMELY LIKELY that you will sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. No representation is being made that any account will or is likely to achieve profits or losses. Past performance is not indicative of future results. Individual results vary and no representation is made that clients will or are likely to achieve profits or incur losses comparable to those that may be shown. You acknowledge and agree that no promise or guarantee of success or profitability has been made between you, and Forex Trading Wizard. Do your own research and talk to a professional financial planner in order to be aware of all the risks associated with foreign exchange trading and investing and seek advice from an independent financial advisor before risking any capital.
TVC:DXYLong
by ForexWizard01
Dollar Index Chart Analysis.... In this situation DXY chart create Bullish Flag Pattern.So,If breakout @103.777 resistance level, then market Buy UP to 103:999 ; @ 104.720 and 105:600 resistance level. Then market need seems sell correction to nearest Support 104.950 level. AronnoFX will not accept any liability for loss or damage as a result of reliance on the information contained within this channel including data, quotes, charts and buy/sell signals. If you like this idea, do not forget to support with a like and follow. Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad.
TVC:DXYLong
by AronnoFx
DXY - understanding RISK ON or RISK OFFHi guys. Trying to get better at expressing what i see so This is for educational purposes. Ill try to express my take on the relation of DXY to either a RISK ON or RISK OFF scenario with my go to trading tools. RISK ON = BULLISH RISK OFF = BEARISH DXY can be a powerful tool in TA when trading equities or crpyto currency. It is known to be inversely related to Equities and Crypto. Meaning when DXY goes up, mentioned assets go down & when DXY goes down, the assets go up. I use it as such for my trades. Okay so firstly: Price Action: As you can see current price action on the Daily time frame shows us trying to break the red trend line. This is the 4th touch point, which as me oogling heavy on this at the moment. For risk on situation, we would like to NOT break this trend line and rather have price action move back down. If so we would fall to the WHITE support line. Breaking this support would be even better for RISK ON. Also notice the orange trend line this coincides with the top we had. If we break this, thats a major trend change, potentially to the upside. That may coincide with recession talks, S&P, Dow, Nasdaq, Crypto all going down to new lows (In my opinion). Now Indcators: 1. RSI - We've clearly printed a higher high on the RSI. Notice the 2 Red horizontal lines, one above is resistance, one below is support. We want to stay below the resistance line and not breach it and let it flip support. That would indicate major trend shift in the RSI and could lead to RISK OFF. Ideally, we want to hit support and break down or move sideways to maintain the current situ in market. 2. MACD - Momentum indicator - we are picking up a little in omentum but its more or less just average power. For it to pick up, which would be RISK OFF situ, the blue/orange line would go above the 0 level. Ideal situ, to stay below 0 as long as we can, or if we breach 0 quickly come back down as drawn in red. 3. ADX & DI - Momentum indicator - When red line is above the green line it indicates bearishness and when green line above red line its bullish momentum. As you can see the gray rectangle i think we will be in a period highlighted by previous gray box. Where momentum just chops sideways with continuous overtakes by both colors (green & red). 4. STOCH RSI - Momentum indicator - Here we would like to see cross below the 80 level which would indicate RISK ON. If orange line catches up to blue and begins to go horizontal as shown by red arrow, that could indicate RISK OFF. Please note we would like to see confluence among multiple indicators for the direction to be more probable. If one goes RISK OFF, other 3 RISK ON, it could be possible for RISK ON but i would like to see all 4 show one direction. For more clarity i would use other tools as well in my toolbelt. But i like these cuz there simple and works well for me countless times. So keep a close eye on DXY! Great indicator of whats to come for the markets overall. Thank you. If your into TA please join in and let me know what you think! Lets learn together! ***Btw this is not financial advice, i am not a financial advisor. Im just a student of the markets, wanting to reinforce my understanding.
TVC:DXY
by SafofAllTrades