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dxy analysis (Fri, 10 May 2024)dxy is currently bearish toward 104.89 but upon reaching to this level will decide which way go if break 104.89 will go down further if hold 104.89 and can not break the level will up toward previous high but key points: Weak labor market data has fueled speculation among investors about potential Federal Reserve rate cuts later this year. Market sentiment is being swayed by expected shifts in U.S. monetary policy due to weak economic indicators. A dovish shift in monetary policy could support higher bond prices and potentially pressure the dollar if inflation continues to cool.
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short (Fri, 10 May 2024)
https://www.tradingview.com/chart/wfRC4XLX/ sell set up
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USD on the Rise? Concerns for the EUR. We'll see at 07:30 CST (Fri, 10 May 2024)
USD trying to gain a foothold after yesterdays lows due to a Higher than Expected Unemployment Claims report. The DXY dipped high in the morning from around 105.740, dropping to a low of around 105.200 and then went up slightly into a consolidating in a range from 105.332 high to 105.204 low. https://www.tradingview.com/x/avCjyqsk/ That being said USDCAD took a hard drop yesterday. These moves were beneficial to the AUDUSD & NZDUSD pairs as AUDUSD soared to a high of around 0.66230, retracing back to around 0.65994 before rising slightly into a consolidation pattern. NZD had the same affect reaching a high of around 0.60400 before retracing to a low of 0.60142, retracing near the high before settling down into consolidation. https://www.tradingview.com/x/gbGxI3gc/ EUR pairs having the same reaction . https://www.tradingview.com/x/pFNxYSD4/ GBP & EUR news releases early this morning being mostly favorable for the pairs, USD trying to get a footing with the demand of Gold & Silver still on the rise, we're seeing some uncertainty in the market as we come to an end of weeks closing. Awaiting further CAD Unemployment Claims report scheduled later this morning at 07:30 CST, this could be a make it or break it moment for the USD as we come to a close, pushing us into a Reversal for the week ahead or pushing us further down. Good Hunting Traders.
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Dxy projection (Fri, 10 May 2024)
Dxy(dollar strength) after a pullback in respect to the manipulated unemployment claims ... the moment tum starts to build ... from the price 104.700's ,swift movement to 105.900's is now being expected in the NYS . Follow for more insights , comment , boost and follow
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Levels discussed on 10th May Livestream (Fri, 10 May 2024)
10th May DXY: Consolidating, look to retest 105.50, then trade lower to 105 round number support. NZDUSD: Sell 0.5975 SL 15 TP 40 (Possible double top) AUDUSD: Waiting, looking for a reaction at 0.6660 USDJPY: Test and reject 156 (breakout of bullish channel) Sell 155.80 SL 40 TP 130 GBPUSD: Buy 1.2550 SL 25 TP 55 EURUSD: Sell 1.0790 SL 20 TP 60 USDCHF: Choppy at current level USDCAD: Sell 1.3660 SL 20 TP 40 Gold: Needs to stay above 2345, above 2371 could climb to 2400
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Don't demonise the dollar (Fri, 10 May 2024)
Weekly 1 2 3 reversal. Higher high higher low. Price may end on a positive tone this week. Yes in the short run price is volatile; but usd is stable. US is can be seen to be sorting out their internal problems from the extremists. Once they realize protecting american citizens will bring more capitalistic money in their wallets and more freedom; the democrats and republicans may actually hold their hands together. As both side need each other. The age of secret of hardwork is key applies. Usa is the everyone trusts the sp500 as the standard of world progress and majority of which is in usa. There is no alternative to the dollar for now; so take advantage of it. Use it for carry trades for ease of use. Just remember the few extremists in the Usa are but 1%. The rest are still sane.
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DXY Next Move (Thu, 09 May 2024)
"After the sharp decline in the US dollar index due to the recent employment data and unemployment rate, we are facing an important event, which is the inflation data. If the data comes in high, this will be a shock and surprise to the market, and the index will rise again above 106. The second scenario is a decrease in inflation, which is possible at the moment. If the data comes in low, the Federal Reserve will have a great opportunity to lower interest rates soon, especially in July and September, and most experts anticipate the decrease in November. This will be very negative for the dollar, and it will decrease to around 102. Watch the chart carefully to understand, as the scenarios are depicted on it. Good luck!"
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Dollar Index (DXY): Bearish Outlook After News (Thu, 09 May 2024)
https://www.tradingview.com/x/aXxdafb5/ Today's US fundamentals are very bearish for Dollar Index. After a test of a key daily horizontal resistance, the price formed a strong bearish imbalance and violated a support line of a rising wedge pattern on a 4H time frame. I think that the fall may continue. Next support - 104.9 ❤️Please, support my work with like, thank you!❤️
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Dxyusd up US Dollar Index News: Read the Latest Analysis on DXY (Thu, 09 May 2024)
The US Dollar Index, also known as DXY, is used by traders seeking a measure of the value of USD against a basket of currencies used by US trade partners. The index will rise if the Dollar strengthens against these currencies and will fall if the Dollar weakens against these currencies. Plan your technical analysis of the US Dollar Index by tracking its price in the chart and keep up with the latest market movements with news, advice pieces, and the dollar index forecast. Average True Range It is often useful to gauge an asset’s volatility against its prior observed range when assessing potential directional moves. Spikes in volatility would result in readings above 100% of the average true range, while massive drops in volatility will typically head towards 0% of the average true range.
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DXY long (Thu, 09 May 2024)
- we on a daily BISI on a Thursday how interesting is that. -look for 1hr to 4hr CHOCH to the upside. - Killzones I'm looking for its probably London session tomorrow. -Don't to check if there's fundamentals before taking a trade.
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Will the Dollar continue his Downtrend? #DXY (Thu, 09 May 2024)
This morning we're seeing the Dollar going down due to the Unemployment Claims news. Will the Dollar continue his Downtrend? Levels taken from Forex Factory: Unemployment Claims Actual: 231K Forecast: 212K Previous: 209K References: https://www.forexfactory.com/ https://www.reuters.com/markets/us/us-weekly-jobless-claims-increase-more-than-expected-2024-05-09/
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Shorting DXY: A Calculated Gamble on a Weaker Dollar (Thu, 09 May 2024)
Shorting DXY: A Calculated Gamble on a Weaker Dollar, But Beware the Dragons The DXY, or US Dollar Index, measures the greenback's strength against a basket of major currencies. With rising global tensions and a potential shift in global power dynamics, the question lingers: is it time to short the DXY, betting on a weakening dollar? Let's explore the arguments for and against this strategy. The Case for Shorting DXY: A Multi-Pronged Approach • America's Shrinking Lead: The US, while still a dominant economic force, faces challenges. Its manufacturing base has shrunk, its national debt is ballooning, and infrastructure crumbles. These factors could erode confidence in the dollar's long-term stability. • The Rise of the Rest: China's economic power is undeniable. The yuan's internationalization efforts are gaining traction, potentially chipping away at the dollar's dominance as the world's reserve currency. Other economies like the Eurozone are also maturing, offering alternatives. • A Concerted Effort: Imagine a scenario where the US's major allies, concerned about American dominance, decide to weaken the dollar. This could involve measures like central banks diversifying reserves away from the US or pegging their currencies to a basket that excludes the dollar. While a hypothetical scenario, it can't be entirely dismissed. China: The Dragon in the Room China's displeasure with a weakening dollar is a significant risk factor. A weaker dollar makes Chinese exports more expensive, hindering their economic growth. China holds a significant amount of US Treasuries, and a devalued dollar would erode the value of those holdings. This could lead to China dumping US Treasuries, further weakening the dollar in a vicious cycle. Beyond China: Other Considerations • US Response: The US Federal Reserve has tools at its disposal to counter a weakening dollar. Raising interest rates, for instance, could entice investors back to the dollar for higher yields. • Global Instability: A devalued dollar could create global economic turmoil as countries scramble to adjust exchange rates and inflation spikes. This could be particularly damaging for developing economies. • Unpredictable Markets: Shorting any asset is inherently risky, and the currency market is especially volatile. Unforeseen events can drastically alter currency valuations. So, Should You Short DXY? The decision to short DXY depends on your risk tolerance and investment goals. Here's a breakdown: • For Aggressive Investors: If you believe in a long-term decline of the US dollar and have a high tolerance for risk, shorting DXY could be a potential strategy. However, careful risk management is crucial. • For Cautious Investors: The potential consequences of a weakening dollar, particularly China's reaction, are significant. It might be wiser to stick with less volatile investments or consider options strategies that limit your downside risk. Alternative Strategies Instead of shorting DXY directly, consider these alternatives: • Invest in a Diversified Currency Basket: Spread your risk by investing in a basket of major currencies, potentially benefiting from a weakening dollar while mitigating some of the risk. • Look to Emerging Markets: If you believe in the rise of other economic powers, consider investing in their currencies or stocks poised to benefit from a weaker dollar. The Final Bite The future of the US dollar is uncertain. A combination of factors could lead to its decline. However, the potential consequences, particularly China's response, are significant risks to consider. Carefully weigh the arguments before taking a short position on DXY. Remember, diversification and a measured approach are key in navigating the ever-fluctuating currency markets.
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DXY ANALYSIS FOR FRIDAY (Thu, 09 May 2024)
Hi traders, we share here the analysis of DXY. please see the full video for understand
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DOLLAR INDEX - BEARISH MOVE (Thu, 09 May 2024)
https://www.tradingview.com/chart/DXY/GDU4dYg1-Dollar-Index-DOUBLE-TOP/ Previously, The Dollar Index Formed a Bearish Double TOP Pttaern. At The Moment, The Price Has Pulled Back to The Neckline and Failed To Break it ! So, I Expect a Bearish Move ----------- TARGET: 105.08
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Dollar is set to go higher from here or that FVG (Thu, 09 May 2024)
The dollar has made a big bullish reaction during the NFP. The whole week it was trading up now we are getting the first pullback, I think it can dip just to the discount and continue up as stated on this idea below. https://www.tradingview.com/chart/DXY/iLDjtwrg-Last-stage-of-accumulation-before-explosive-up-move-to-buyside/ Always follow these rules - Accumulation / Manipulation / Distribution - No liquidity raid = No trade - Never buy high and never sell low “Adapt what is useful, reject what is useless, and add what is specifically your own.” Dave FX Hunter ⚔
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