DXY update post FOMCJust an extension of my previous idea. Still expecting another wave higher after the support at 104 held its ground.Longby Goose960
Levels discussed on livestream 13th June13th June DXY: Could retrace, needs to stay above 104.60. If price breaks above 105, could retest resistance at 105.45 NZDUSD: Sell 0.6150 SL 20 TP 50 AUDUSD: Sell 0.6635 SL 20 TP 55 USDJPY: Look for reaction at 158 resistance Buy 158.20 SL 30 TP 115 or Sell 157.80 SL 30 TP 125 GBPUSD: Retrace and reject resistance Sell 1.2810 SL 20 TP 55 EURUSD: Sell 1.0880 SL 20 TP 80 USDCHF: Sell 0.8935 SL 15 TP 40 USDCAD: No setup for now Gold: look for break of 2307 to trade lower to 2280 supportby JinDao_Tai6
HAWKISH FED LIKELY TO CAUSE DOLLAR STRENGHTENWith the dollar index slowing down at the support level just in time when the FED report indicates hawkish outlook, dollars may likely continue to strengthen, creating more highs thereby hurting the pairs. N.B! - DXY price might not follow the drawn lines . Actual price movements may likely differ from the forecast. - Let emotions and sentiments work for you - ALWAYS Use Proper Risk Management In Your Trades #dxy #dollarLongby BullBearMkt1
Retest for a downtrend Price has also reached its highs of the quarter and with the end of the first quarter ending this June price could also fall closing near the opening price (104.452) of the month.by KhoraCapitalUpdated 0
Market Crash - The Greenback is Coming For Bulls DXY had a lot of weakness after the CPI release this morning, but has slowly been recovering since the fed minutes were released show a target rate of only one cut by year's end. DXY held trendline support and is heading back up for another breakout attempt. If it does breakout, it should lead to significant weakness on NQ. Longby AdvancedPlays0
Bullish DXY (Post FOMC Analysis 13th June)The DXY spiked higher from the 104.20 price level to 104.60 during the release of the FOMC interest rate decision and the press conference. The move higher has continued through the Asia session with the DXY now approaching the 105-round number level (around the 50% Fibonacci retracement level from the move yesterday) This bullish move in the DXY is likely due to the FOMC adopting a conservative undertone during the news release. Conservative due to - "We don't see ourselves as having the confidence that would warrant policy loosening at this time" - "We need further confidence, more good inflation readings but won't be specific about how many to start rate cuts" - Indicating the potential of only 1 rate cut decision to come for the 2nd half of the year - "Rate cuts that might have taken place this year, take place next year" If the economy progresses along its current path, the FOMC dot plot suggests that terminal rates for 2024 is likely to be 5.1%. Adopting a conservative stance on rates for 2024 (which could be offset by a more aggressive rate decision in 2025, 4 cuts expected) is bullish for the DXY as it indicates that rates could remain high for longer. Look for the DXY to continue climbing to the upside, toward the immediate resistance level of 105.60 (which coincides with the 61.8% Fibonacci retracement level from the longer term) Beyond 105.60, the DXY could retest the high from April at 106.40 Longby JinDao_Tai4
DXY bearish Elliot wave structure 1.DXY just like my previous idea came to the lower end of the expansion move now headed into a retracement to create the 5th and final bearish leg Meaning looking at xxxusd pairs to be bullish to end the week into next and usdxxx pairs be bearish 2 If it doesn’t break below the 3 leg then it has a probability of reversing / accumulating to the upside causing Xxxusd pairs to continue lower and usdxxx pairs to continue higher PAYtience pays Shortby Onlypips4xUpdated 1
Potential gartley pattern DXY Dxy currently expanding into the 4th leg of the macro bearish Elliot wave Looking for distro within the green lines then retrace down for the last drop down to the 5th leg Elliot wave combined with harmonics perspective Dxy expansion means Usdxxx pairs are bullish Xxxusd pairs are bearish (yes that includes crypto ;) Then once dxy makes the lower high it will start to retrace meaning Usdxxx pairs will be bearish Xxxusd pairs will be bullish ( and yes that means crypto :)by Onlypips4xUpdated 112
Dxy analysis for the week Dxy already hit tp1 and is now consolidating in a zone where it’s either creating a higher low (#2) of a bearish Elliot wave structure or expanding higher to break the range for its target of liquidity resting above the x and d legs of the harmonic Keeping eyes on it Correlation to keep In mind is: If Dxy bullish then Xxxusd pairs bearish USDxxx pairs bullish And vice versa by Onlypips4xUpdated 228
DXY SETUPExpecting the market to move as noted. Using SMC and price action makes it easy to understand the marketby LetsgototokyoUpdated 111
gold and us dollar adjusted for inflationRemember, this is what #gold tracks. gold and us dollar adjusted for inflationby Badcharts4
USD Index (DXY) Analysis Bullish Outlook Fundametnal Analysis: The US Dollar Index (DXY) is currently strong due to the high interest rate of 5.5% set by the Federal Reserve, steady GDP growth at 1.3%, manageable inflation at 3.4%, low unemployment at 4%, and robust consumer confidence at 69.1 points. These positive economic indicators attract foreign investment, bolstering the USD. Despite the trade deficit of -74.56 billion USD, the strong economic fundamentals support a resilient USD. Tip: I think the Fed will hold rates due to uncertain inflation rises until the end of the year or next months. As long as the Fed maintains or increases rates with positive indicators such as NFP in the future, the USD will gain more strength against other currencies. Technical Analysis: After the positive NFP news, the price broke a strong bearish trend, indicating a potential shift in market sentiment. If the price remains above the critical level of 105, there is a high probability that the bullish momentum will continue. This could drive the price up to the 106 level, which is the previous month's high (PMH). Maintaining this level would reinforce the bullish outlook, suggesting further upward movement in the near term. overall view From Strongets to Weakest Currency based on Fudametnal analysis Longby rTrader_officialUpdated 449
DXY Cheat Sheet Hello Traders, By looking at the dollar index, we can see a zigzag pattern ( 5-3-5 ) forming. Zigzag pattern is made of 3 waves: Wave A = 5 waves Wave B = 3 waves Wave C = 5 waves We are now in wave C= 5 waves, currently in subwave 3. Expecting USD weakness means XXXUSD Strength and USDXXX Weakness. See lower timeframe: DXY 4H - Ideally price retraces back to 50% - 61.8% fib. Wait for price to come back and then you can get in: XXXUSD LONG USDXXX SHORT by TradenessfxUpdated 2214
10 year T Bond Yield & Dollar10 year yield at 4.26% DXY at 104 Corelation lately 0.5 Overall interest rates should head lower ( though not below 4%) , hence the demise of Dollar is over hyped.by SWFguy0
DXY starting the next leg downSo it appears. Will smash through the key level of 100 and onto the 94 area.. The dollar moves have massive ramifications for every financial asset , commodity & currency. lets see what it gives us. Shortby BallaJiUpdated 32
Bull Reversal on DXYExpecting a bullish reversal as pointed out by all technicalsLongby rejoicem76Updated 4
Bearish/Bullish DXYDxy is looking to retrace at 104.800 as in technical bias, looking to go short then bullishby rejoicem76Updated 2
DXY KEEPS TO BE APPRECIATING After the declining sweeps into 103,00's Nfp was banked on by the bulls, which lures to the mitigation of the substantial demand and GOLD begins to short .... sit tight and anticipate the moves .follow for more insights as the next insight will be published i the comment session . Longby Ak_capitalistUpdated 334
DXY Sort/Medium term outlook 12/06/24feds cutting rates? We will see later today. I am predicting bearish DXY. Came back to equilibrium of range into the consequent encroachment of weekly inversion fair value gap, taking out buyside liquidity whilst rebalancing a daily volume imbalance. Shortby joeljohnrussell2
Market Watch: Markets Await Fed Decision on Interest RatesAfter the Bank of Canada and the European Central Bank reduced interest rates by 25 basis points, the markets are now awaiting the reaction of the US Federal Reserve. The Fed is set to announce its decision on interest rates today at 10:00 pm Dubai time. Currently, US interest rates are at their highest level in 23 years, at 5.5%. Recent job data, which showed an increase to 280K jobs and exceeded expectations, indicates continued inflationary pressures. This suggests that the US economy is not slowing down as the Fed hopes, which is necessary to achieve a continuous decline in inflation towards the target level of 2%. Today's inflation data, which will be released at 4:30 pm Dubai time, will have a significant impact. It will influence not only the Fed's perspective on interest rates at its meeting but also its outlook on when it might begin a monetary easing policy. This is especially crucial with only four meetings remaining until the end of the current year. Looking at the expected scenarios, if inflation remains above 3%, the Fed is likely to maintain its current policy and keep interest rates high for a longer period than the markets expect. Conversely, if inflation drops below 3%, we may anticipate a shift in the Fed's tone, potentially leading to an interest rate cut. From a technical point of view, the dollar is currently trading between the levels 100 and 106.5, breaking or exceeding these levels will determine the path of the dollar. by CFI3
[Off the Charts w Mysfft] CPI and US FED interest rate decision US CPI data and US Fed Interest rate decision both falling on the same day. (This only happens 13 times since 2008!!) Here, I look to share my thoughts on how the CME_MINI:ES1! (S&P index futures) along with the USD Dollar Index ( TVC:DXY ) can be expected to move in light of the 2 important economic news. This is just me sharing from a top down analysis along with multi-asset point of view. Will be happy to see your comments and know your thoughts. ps. MYSFFT stands for: Master yourself, flee from temptation. Just like in the world of trading, it's always about mastering ourselves and avoiding the FOMO, GREED, TRIGGER FINGER, REVENGE TRADES. Its to be a misfit in the world of trading and to be a game changer. Cheers! Trade safe and stay safe peeps.Long18:03by laughingchartist3
Levels discussed on Livestream 12th June12th June (FOMC Decision Pending) DXY: Could test and reject 105.60 resistance before trading lower (dovish FOMC) down to 105 support. NZDUSD: Buy 0.6170 SL 25 TP 45 (DXY weakness) AUDUSD: Sell 0.6560 SL 20 TP 65 (DXY strength) USDJPY: Look for reaction at 158 resistance Buy 158.20 SL 40 TP 115 or Sell 157.70 SL 40 TP 115 GBPUSD: Sell 1.2750 SL 25 TP 60 (DXY strength) EURUSD: Buy 1.0770 SL 50 TP 120 (DXY weakness) USDCHF: Sell 0.8950 SL 25 TP 55 (DXY weakness) USDCAD: Buy 1.3795 SL 20 TP 50 (DXY strength) Gold: wait for a reaction at 2280 support levelby JinDao_Tai7
$DXY [WEEKLY] OUTLOOK TVC:DXY major grounds to cover on the upside. bullish momentum remains but some major retracements to be made this week. 105 remains a key zone for next runby Bankhead0070