Vikinsa's Indices Journal

DXY (Dollar Index) represents the strength of the dollar against major currency pairs. But it is more than that. Nearly all financial markets are so far dependent on the usdollar directly or indirectly. That means if dollar moves up and down nearly all markets including indices (us500, dow jones etc.) , cryptos (Bitcoin, ethereum etc.), commodities (gold, silver, usoil etc.) will move up and down.

Traders, DXY has been bullish since it hit 89.89 level which we predicted in August 2020. Since then the progress has been slot but stead as well. Now DXY can look for a minor correction just to support the previous bearish move down. Remember we are in a corrective phase at the moment so the market will try to resume the bearish momentum at least once more. So what opportunities are there or how the USDOLLAR can affect the markets next week. Lets find out.



Previous DXY analysis:

Traders, Dollar has been bullish as expected for months and ultimately it will keep on rising because on higher time frames it is forming a W pattern. These are the factors for its bullishness:
1. W pattern on multi year monthly time frame
2. Sideways Channel on Monthly time frame
3. Double bottom on monthly time frame
4. W pattern formation of Weekly time frame
5. 200 SMA attracting price on weekly time frame

Traders, Dollar has been holding its position firmly on the weekly time frame. On smaller time frames also last week, there was not much of bearish movement. This suggests that so far it has found stability in this region and may continue to consolidate. On the last day of the month it showed a huge move to the upside but that may not last depending on how the market opens. If it breaks our of this range then the most bearish possibility is 90.6 sort of level and if it breaks bullish can it can really go parabolic all the way to 98 or even 100 level. So the current levels on the weekly time frames are very important. In this DXY (Dollar Index) Technical Analysis & Forecast we explore all the possibilities and important levels.





Previous DXY analysis:

Traders,
Dollar has gone parabolic as expected and has been gaining strength. We have been holding our long bias since 89 level. DXY can go much higher from here is the momentum picks up further. However there are few levels on dollar index which you should be aware of. In our analysis we always look at both bearish and bullish scenarios so that we can plan our trades better and are aware of possible risks. In this DXY (Dollar/USD) Technical Analysis & Forecast, lets find out what dollar has been doing and what levels we should be aware of.
On the bull side we have:
1. Inverse head and shoulders pattern
2. Double bottom
3. W pattern formation
4. Channel upper end level
5. Parabolic nature
On the bear side we have:
1. FCP zones above ahead
2. Gaps left at the bottom which will get filled at some point sooner or later
3. Slightly over bought conditions


Previous DXY analysis:

Traders, Dollar has hit all of out bullish targets so far. Now it is at a critical level which was tested last week. It is still bullish but after collection of liquidity it failed to go higher. If dollar breaks this level to the downside, we can see a huge downfall. But in this complete in-depth analysis we see all possible scenarios including a very bullish case for it which may take weeks to unfold.

SnP500, Dow Jones & NASDAQ Fell last Week – Why?


Traders and Investors,
In June 2022, the SnP500 (SPX) was making a base and was preparing to a ride upwards. This was simply because of the previous bullish momentum during the covid 19 times and a fall after that. The market moves in waves. So the latest was simply a correction which was going to come to an end in June 2022. Soon after that the market started to move higher and although it had a week start, it finally pushed through some of the major levels.
Last week it reach a major fib 61.8 and trend line confluence on the weekly time frame. Whereas the Daily time frame also had 200 sma there. This created a extraordinary combination of technical for the market to fall and react as it is did. In our FCP methodology we look for these powerful confluences and trade them.
Here are few charts and below is the premium custom analysis report that we shared with our clients on June 12, 2022 expecting these moves.

Dow Jones (US30) has been falling straight 3 days. The first of the September also has extended the losses. But it seems like it may be reaching a 61.8 fib with VATA Envisage's projected bearish targets. This can be a good "buy the bounce" opportunity if we get a confirmation on daily basis.

https://lnkd.in/d5PhAJ3v

Another Target Reached! SNP500 last week hit our long-term target of 4420 which was given on Sep 26, 2022.

So much for complex discussions and posts on social media around interest rates, the bond market, recession, COVID recovery, war and whatnot. It was even termed a "Bear Rally". Now almost everyone is talking about how bullish the stock market is.

We analysed charts around various indices including US30, NADDAQ, FTSE100, CAC, DAX, FTSE100 and NIFTY and spotted a good bullish bounce pattern.

Keep it simple and read the charts. Charts do not lie because they represent past and present market data. It is data which is the best tool we have in our toolbox to analyse and make decisions on in markets. Rest is a risk simply trade and management.




https://www.linkedin.com/feed/update...6871690067968/


https://www.tradingview.com/chart/SP...ssible-Bounce/

NIKKEI:

The Japanese stock market index has gone up by approximately 21% since we last analysed and posted about it in Feb 2023. The target of 32753 has been reached and if this holds we can expect it to rise much higher.

Bonus Tip: Watch USDJPY closely with it on your charts for further indications.

https://www.linkedin.com/feed/update...7537395875841/

NASDAQ has been rising and other indices have also been going up. For the latest updates join free telegram channel: https://t.me/VikinsaFx