Welcome all to the usd killer page
here we analyse the market by using the dxy to determine the direction of the market
i trade eur usd, gbp usd, usd jpy, xau usd, xag usd and usd chf
im a swing trader but i day trade gold and silver.
Lets all bring our ideas onboard so we can all learn together.
EXPECT WEEKEND MARKET ANALYSIS ON THE DOLLAR PAIRS
I have a strong bullish bias for the dxy and here's why.
Attached Image (click to enlarge)
we have a tap into an order block and a fib level(50). the gap also got filled and we have a strong rejection from my psychological level of 98.
Attached Image (click to enlarge)
gap clearly filled and low key looks like the classic break and retest. we might see the dxy rise to 101(might). that's because there's an unfilled gap at that level.
Dollar is supposed to go up, but it's not yet time. The gap wasn't fully closed. Wait for it to reject 97.50 and then look for sells in gbpusd,eurusd, usdchf,usdjpy, xauusd
EURUSD outlook:
Price has been consolidating in this area for an extended period, suggesting potential accumulation before the next major move.
Current macro conditions remain supportive for EUR strength:
- DXY continues to weaken
- Gold remains strong
- Oil prices are rising, supporting inflationary pressure and weighing on the USD
My current view is that EURUSD may first take a short-term pullback before attempting another move higher.
Plan:
I will wait for the pullback to complete and monitor lower timeframe structure. I am only interested in longs if price breaks and closes above the recent high with confirmation.
Until then, I remain patient and avoid chasing price inside consolidation.