The U.S. Dollar index (DXY) is on a strong green 1M candle, already halfway through the month of October, as it is rebounding after making an exact test of the 1M MA50 (blue trend-line), the long-term Support.
On this chart we can see the DXY's multi-year price action. Even though it was on a heavy downtrend since the February 1985 High, it managed to break above...
The U.S. Dollar Index is heavily bullish on its 1D technical outlook (RSI = 65.833, MACD = 0.380, ADX = 45.822) as it has been rising strongly since the Sep 27th Low, not over its 1D MA50. The price action is identical to the rebound that was initiated on December 28th 2023 and reached the 0.618 Fibonacci level only to get rejected there back to the 0.5 Fib....
We finally saw the USD rebound I was beating the drum about back in September. But now it's hit a decent resistance zone, I weigh up its potential to hold its ground or producer a deeper pullback. Markets covered include the USD index, EUR/USD and gold.
MS.
Last time we looked into a such a long-term (multi-year) time-frame on the U.S. Dollar Index (DXY) was 10 months ago (December 15 2023, see chart below) where we gave the most optimal buy entry at the time:
We now take it to the 1M time-frame where the long-term trend gets more clear and the pattern as you can see is a Channel Up since the March 2008 bottom...
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against basket of other six major currencies, extends its losses for the 5th consecutive week in a row, hovering below 102 points during the U.S. regular hours on Monday, August 19.
Over the past week, Gold spot (XAUUSD) has topped $2500 per ounce psychological high also, minting new all...
The U.S. Dollar index (DXY) following the Fed's -0.50% Rate Cut, hit on Wednesday its 1W MA200 (orange trend-line) for the first time in 8 months (since the week of January 10 2024). This is obviously the strongest Support on a long-term basis and technically should attract the first wave of buying pressure.
However, the multi-year pattern, being a Channel Up,...
The USD saw a sharp reversal higher despite a 50bp cut, simply because the markets were positioned for a more dovish dot plot. I have argued in prior analysis the USD exposure is a bit stretched over the near-term, so perhaps shorting the USD is getting a bit stale. We also have several key markets at inflection points after a risk event. Matt Simpson takes a...
We stand back to admire the long-term chart of the US dollar index, and yes there could be further downside over the coming weeks. But a quick check on the daily timeframe makes us wary of jumping into an already well-established short, given potential support levels nearby and the fact everyone and their dogs seem to be bearish the dollar.
Market corrections are tricky and in this post you can see why.
Dollar index weekly chart shows signs of large sideways consolidation (aka flat correction, range) after a strong drop marked with the orange down arrow 1.
This consolidation passed halfway as we can see all first moves are completed.
The first major yellow counter-move is done; it will be connected...
The Dollar Index (DX1!) has been in an uptrend since the spring-summer of 2008, when it reached its lowest point.
Since October 2009 (after the first leg down of the uptrend), whenever the net positions of retailers in the CoT report turn negative (or approach zero) AND retailers reach an extreme low in the CoT index (either in the short-term OR long-term), a...
The U.S. Dollar Index (DXY) has been trading within a 19-month Channel Up pattern and this week (as well as on August 05), it almost reached its bottom (Higher Lows trend-line). This is a Double Bottom formation so far, which is a bullish pattern, that was also formed on the 1D RSI.
The last time the RSI completed this formation, we've had a bottom that gave way...
US CPI data may not have been as soft as some would have liked, but it retains the view that the Fed will cut rates and achieve a soft landing.
The US dollar index reversed earlier CPI-induced losses to close the day flat on Wednesday and form a small bullish pinbar. Its low almost perfectly respected trend support from the July 2023 low, and shows that demand...
The U.S. Dollar Index (DXY) has been trading within a Channel Down pattern since the May 01 High, which is a technical Bearish Leg inside the long-term Channel Up structure. The price is already very close to the bottom of the Channel Down and with the previous Bearish Leg completing a -2.36% decline, we believe this is the right time to buy again on the...
Pair : DXY Index
Description :
Completed " 12345 " Impulsive Waves and " A " Corrective Waves
Break of Structure
Demand Zone
Fibonacci Level - 50.00% / 61.80%
Bearish Channel in Long Time Frame
Pair : DXY INDEX
Description :
Completed " 12345 " Impulsive Waves and " ABC " Corrective Waves
Break of Structure
RSI - Divergence
Bullish Channel as an Corrective Pattern in Short Time Frame
Demand Zone
TIME TO SELL NASDAQ
Price finally reached weekly bearish selling zone (Akka in Spanish "area de ventas").
I expect a strong sell towards SMA 30 @ W1 changing weekly tendency from strong bullish into strong bearish.
TP areas will be triangle cuspid and 50-61.8%
The U.S. Dollar Index (DXY) hit both Targets that we set on our January 24 analysis (see chart below):
Yet again, a new buy opportunity is emerging as the price not only hit the 1D MA50 (blue trend-line) - 1D MA200 (orange trend-line) Support Zone but also the bottom of the (dotted) Channel Up, which is essentially the Bullish Leg of the 1-year Channel...
The U.S. Dollar Index (DXY) hit the first out of our two bullish targets (January 24, see chart below), and despite a minor divergence, remains well within our pattern:
That is the 2nd Bullish Leg of the long-term Channel Up pattern. We are past a 1D Golden Cross with the short-term pull-back finding support on the 1D MA50 (blue trend-line). The last 1D...
