USDOLLAR trade ideas
US Dollar is Bottoming ! Hello Traders,
Recent US Dollar action (H4) and the next week or two is bottoming pattern. Like what we had in EUR/USD daily (ceiling). I copied the bar pattern from EUR/USD and mirrored it to make it more clear what I mean by that.
A broad bottoming out in US Dollar (H4) suggests that each lowest low could be a reversal but I will pay attention to those which happens during the time cycles zones or near them.
I pointed out two time cycle zones (two green rectangles) on the chart. If price makes swing low during these time cycles then there would be a high probability of reversal. It might also have a reversal between them or near them.
Here is the EUR/USD ceiling that I mentioned above. By putting the bar pattern on US Dollar I don’t mean that it will move exactly like that. Just tried to make it clear what I mean by bottoming.
Please Like and follow if you enjoyed my analysis.
Please check my previous forecasts to see how these time cycles work. I put few links below for your attention:
Good luck
USD Beginning to Shows Signs of Trend Change- Price was in a strong downtrend since the start of November to beginning of January
- New year came along, Dollar has been consolidating/accumulating just slightly higher than the lows of the downtrend.
- Bears have made multiple attempts at breaking the lows of the range but have not succeeded thus far.
- If we do bounce from the bottom again, pay attention the midrange as it's tending to have strong downward pressure at that level.
During natural market movement, we will always see price ebb and flow. Even if price seems to be trending for a long time, there will be a period of time where that trend will end and price will revert to fair value before continuing the trend move or reversing completely. To spot this we look for exhaustion. This will usually be signalled by a break of the trend. Price will, more times than not, begin to accumulate, especially if it has trended for a significant period of time. There will however be instances where price will just create a new high outside of the trend, retrace back and then continue making new higher highs and higher lows. In this example we see a very nice period of consolidation/accumulation. During this phase we are simply just ranging, we will be looking for longs at the bottom and shorts at the top until we actually do break out to either side. Bias is to break the upside but we will prepare for either.
USDOLLAR DJINDEX FXCM short on daily chartSL = 12260
ENTRY ORDER = 12010
TP1 = 11760
Two positions with the same stop loss and x1 target for the first position
The stop loss of the second position to breakeven when the first position hits the target1.
The second position has no target, only exit
Risk= 2% of account capital (1% each position)
USDOLLAR Bullish ReversalHope you all had a good weekend. Recently, the USDOLLAR has been getting hammered recently skewing all i's currency pairings and in my humble opinion defying what would be normal good entry and exit points from a day trading perspective. Well, I think it might be about to have a change of direction, making me reenter the market with some reversal trades this week which favor the USDOLLAR . If you throw some strong fundamental news in along with this chart i think we can see a nice uptick this week, ending a miserable few months for the USDOLLAR . The confirmation of the US approving Pfizer's vaccine for the COVID-19 virus is excellent news and should come in to play in the USD currency pairings.
You can see from my chart, we are approaching a historic DEMAND zone which also forms as a really strong support level for the USDOLLAR . I see a nice bounce off support giving us a +2.5% return to the SUPPLY zone , also a strong resistance and AREA OF VALUE.
AUDUSD - Short
EURUSD - Short
GBPUSD - Short
USDCHF - Long
Good luck all
Watch the USDOLLAR and USD currency pairs this week!Hope you all had a good weekend. Recently, the USDOLLAR has been getting hammered recently skewing all i's currency pairings and in my humble opinion defying what would be normal good entry and exit points from a day trading perspective. Well, I think it might be about to have a change of direction, making me reenter the market with some reversal trades this week which favor the USDOLLAR. If you throw some strong fundamental news in along with this chart i think we can see a nice uptick this week, ending a miserable few months for the USDOLLAR. The confirmation of the US approving Pfizer's vaccine for the COVID-19 virus is excellent news and should come in to play in the USD currency pairings.
You can see from my chart, we are approaching a historic DEMAND zone which also forms as a really strong support level for the USDOLLAR. I see a nice bounce off support giving us a +2.5% return to the SUPPLY zone, also a strong resistance and AREA OF VALUE.
AUDUSD - Short
EURUSD - Short
GBPUSD - Short
USDCHF - Long
Good luck all
US Dollar Index. Expected to move upYo traders,
Been a long time since i have posted trades.
Here is a one which i rarely trade but looks good for a setup.
US dollar has been very weak for a long time now and is expected to be weak going forward for the next few months with the printing of money taking place.
But looks like to fall down further there might be a pull back.
If you look at the charts the the price has approached and rejecting the weekly support.
RSI has also given a divergence on the daily TF giving a multiple confluence for a movement upward.
I will wait for a bullish close on the daily and look at 4HR chart on the daily before taking entries.
with Bullish indication on US index affects all USD pairs. Trade accordingly.
Please like comment and share for support
thanks
Madtradex
