DX1! trade ideas
Dollar Index with VFI, Modified RSI and WMA.This is a way to track the move or trend of any instrument. Works very well when tracking BTC, Stocks, Dollar Index, ETH, Forex, as tested and also any other instruments such as futures.
A modified RSI, VFI and WMA are used to confirm each move with technical indicators.
US Dollar breaks trend line dating back a yearI am looking at US Dollar today. It has broken a major trend line going back a year or more. In April of 2018, it broke a major trend line and started a strong push-up. WIll that happen this time? Well, first let's start with a 3 monthly Linear Regression tool. I use 3 months for a trend. Pearson's R value is 0.6955 closer to .50 than it is to .9. This is important because it is telling me that price is separating further than the mean and that could be a sign of a slowdown in direction. Next, Money Flow Index has clearly shown a push to the upside from the 89s which is where we bounced in April 2018. This confirms the Pearson's R-value and the overall slow down. And lastly, Volatility. the Normalized ATR is showing increasing volatility in a trending upward slope. How do I know that the US Dollar will start its push up? I don't but I will be looking for increased volatility and VOLUME. Volume will be key the rest of this week and next.
United States Dollar Looking BullishThe United States Dollar is looking bullish. Shorter timeframe chart has formed an Inverse Head and Shoulders Pattern, the longer timeframe chart has formed a Falling Wedge. A breakout of these patterns will signify more upside and potentially some trouble in the US Stock Market.
DXY - LONG; Looks like "King Dollar" is outta here - UP!As long as that 88.00 level holds - and it sure looks like it is - this is going nowhere but up, up, and away!
Don't forget to dump the "commodity currencies", like this one;
... or, especially this one!
Also, don't forget dump the precious metals, while at it!
USD looks like it is about to explode...The DX1! US Dollar futures weekly chart suggests that it is about to explode upwards.
It is nearing the end of the falling wedge, and MACD just crossed up, with the RPM ready to turn upwards. Oddly enough, the candlestick pattern signals a conflicting stall though... hence, a strong event needs to happen, for a breaking and explosive move... UP
DX1 during Dec'20looking at broad picture, it seems DX1 would be in a down trend during Dec'20 expecting to visit maximum 88.000 level so far.
Hence reversal sould be early 2021 and if there is good pace would make a top by Dec 2023, if market move little bit slow then top can be achived by Dec 2025.
