DXY US Dollar Index 4hr Bearish Engulfing Candle at Resistance
4 Hour Chart
- As per the post from yesterday on approaching resistance, we now have this bearish engulfing candle at major resistance while most majors are at support
Outlook Trade opportunity
Short on a pullback with very small risk in pips.Good thing about this trade is on a Daily chart, RSI and MACD has negative divergence
Risk Level LOW -
Tips -
Always take note of any economical news event on our provided calender below
Résuméabuiyad
DXY US DOLLAR INDEX Update - 5th November 2014
Daily Chart
- Approaching Resistance - haven't seen these levels since 2010
- Above there the next resistance is at around 89.00 however, in this range it could be very choppy according to the price action from 2004-2006
- Although False breakouts are statistically lower odds than real breakouts, the chance for a false break / or reversal are higher due to the obvious negative divergence on MACD and RSI. Perhaps we will know by end week as we have Non Farms on Friday.
Outlook Trade opportunity
Cautious at these levels
Risk Level __
Tips -
Always take note of any economical news event on our provided calender below
Résuméabuiyad
US Dollar Index DXY & USDCHF Potential failing rally on a Cypher Pattern - 27th Oct, 2014
Hourly Chart
Outlook Trade opportunity
The Cypher on the DXY chart is a much better 78.6 where it is at a good Resistance level, however on the USDCHF its not as significant. How we may play this is we can also anticipate that the dollar strength might fail to rally to new highs for the meantime and some weakness is to come. Being the case we could play the majors dollar crosses and find the strongest currency against the USD to go long.
Risk Level __
Tips -
Always take note of any economical news event on our provided calender below
Résuméabuiyad
DXY Forecast and Trade Setup for the week ending 29th August, 2014
Weekly Chart
- What a huge week for the DXY, clearly broke through resistance and having a huge bullish Candle closing at the highs
- At the time of writing this, we opened Monday gaped up, so we will monitor this.
Daily Chart
- Supply and Demand is at 82.5-82.60 area,
- RSI Negative Divergence
- If prices do surpass the supply and demand zone, then the next resistance could be around the 83.00 level which is the upper channel of perhaps the andrews pitchfork? (dunno how to draw it but i think it looks the same!)
Outlook Trade opportunity
During asia, i am taking advantage of the gap up higher but stalled at shy of 82.60 (supply and demand) and choosing the Aussie for a small scalp to the long side.
Perhaps a small position to short the DXY with stops above 82.60
Risk Level __
Tips -
Always take note of any economical news event on our provided calender below
Résuméabuiyad
DXY Forecast and Trade setup for the week ending 22nd August, 2014
Weekly Chart
- MACD is pointing north and staying above the bullish line
- Although there are a shooting star candle, the body did not close in the body of the previous candle, therefore it is not a clear signal for a trend reversal as yet (Neutral)
Daily Chart
- Rising Macd also shown on the daily chart, however there is a cross which possible could signal some correction before another leg up perhaps
- Ascending Channel
- Next Key Resistance is around 82.50 where its the 61.8 and previous supply and demand zone
Hourly Chart
- We see a negative divergence in both MACD and RSI
- Support should hold at the confluence area of Weekly S3 Pivot, Monthly PIvot and fib 38.20
Outlook Trade opportunity
Buy Limit at approx 80.90-81Risk Level LOW
Tips -
Always take note of any economical news event on our provided calender below
Résuméabuiyad
DXY - Update Friday 15th, August, 2014
Daily Chart
- This contradicts my forecast earlier in the week of potential dollar weakness from last weeks price action. Earlier Mid week we did see short lived dollar weakness and capitalized on the move., However as week ends, price is holding quite well in this zone, (broken resistance which now becomes support) and oscillators are giving buy signals
- Therefore perhaps the case builds to upside potential favours
Tips -
Always take note of any economical news event on our provided calender below
Résuméabuiyad
DXY Forecast and Trade setup for the week ending 15th August, 2014
Weekly Chart
- Price action giving us a exhaustion candle at resistance
Daily Chart
- Fridays Candle was a bearish engulfing
- MACD is very close to crossing over
Hourly Chart
4hr Chart
- Broke the steep ascending trendline
- MACD Negative divergence
1Hr Chart
- 1Hr chart shows our first Lower high and lower low swings
Recommendation:Overall, i see a start of a short term bearish trend, perhaps to the 81.10 level .
Tips -
Always take note of any economical news event on our provided calender below
Résuméabuiyad
