DXY

Today, dollar index is looking positive and it will remain positive as the GDP of US is expected to come out in favor of USD. On 4-H chart, DXY has already achieved the second target (94.89 level.). It am confident that it will move above this level and aim for the next target i.e. 95.03 level.

Also, MACD line is above signal line and CCI is moving in the buying area, adding positive sentiments for the index.

On 1-H chart, we can see the head and shoulder pattern with second shoulder still in the process of completion. Today, the index will reach 94.62 level (complete the pattern). If the index manages to sustain below 94.62 level, more selling will come, taking it to 94.48 level.

Resistances are at 94.74, 94.78 and 94.89 levels.

On 4-H chart, dollar index has formed head and shoulder pattern and has already breached the neckline. In coming hours, i think it will go up to 94.87 level (shoulder target) and finally settle at 94.67 level (head target).

Happy Trading guys !!!!!

As of this moment, there is some short covering in DXY. Also, on 4-H chart, we can see the possibility of formation of head and shoulder pattern with creation of second shoulder on its way. I think today, the index can reach up to 95.64 level with intermediate targets at 95.48 and 95.36 levels.

Happy trading guys....

The index has completed the "W" pattern and has started to retreat towards lower side. further supporting the bears is the fact that the index has also dived below the trend line. Crucial level to watch is the 96.64. If we get a daily closing below this, we might see the index falling up to 96 handle.

Happy trading !!!!.

usdx possible PA , bull in action

My view on DXY: https://www.tradingview.com/chart/DX...Update-on-DXY/

Usdx future meet daily close top but not the high price as target yet and close yesterday below may to try continue to top and more before the due correction this time! Lets see today top range play.

mission 97.19 to react hard next!!

A great fall is about to commence

https://www.forexfactory.com/showthr...6#post12698886

DXY dollarIndex analysis:

It’s time to short the DXY
2020.2.14

Almost.

And just like that, USD is back, happy holidays, ho ho ho

Usdx readying next assault, bull today or nextday possible with or without just 96.43 correction down. If without may retest from new top possible next again.

Looks no real bull yet, last leg down still to through down. Take care

exaggerated but not through last leg down to up apparently, brent, gold perhaps crazy up in advance !

long tern dxy
https://www.forexfactory.com/news/11...h#post13924208

DXY appears to have stalled just below 99.5 on Monday, but the index managed to close above the key level of 99 yesterday, potentially indicating that USD bulls are simply taking a breather before another rally leading up to the FOMC Meeting.

The ban on Russian oil is bound to cause prices to rise further beyond the current elevated levels, adding to stagflation fears. If Thursdays CPI print also comes in in-line or hotter than expected, markets could once again begin to bet on a more hawkish Federal Reserve, and 50bps hike at the upcoming FOMC meeting. When combined with safe-haven flows stemming for the on-going geopolitical tensions, this could see DXY break 100 within the next few days.

However, weaker-than-expected CPI would likely take pressure off the Fed, and essentially confirm a tamer 25bps for March, which Chairman Powell seems to prefer. A close back below 99 today, could open the door to a deeper pullback for DXY as traders begin to take profits on long USD positions.

All trading carries risk, but it should be interesting to see how this plays out over the next few days.

though bull attempt perhaps matured in smaller tf , still may again fall now , and a little correction towards 98.3 or more down possible next , watching and in this indecision gold and oil likely fall to some extent