Trading Ideas
Tue, 24 Apr 2018 09:42:23 -0500
Loos like DXY is forming a bearish Shooting Star
Tue, 24 Apr 2018 09:28:30 -0500
DXY has established a new high but failed to break resistance. Though I think on Friday it would give us a better picture of Bull or Bear.
DXY: Is The Low In?
Tue, 24 Apr 2018 08:27:42 -0500
Comments on the chart.
Dollar Index Analysis
Tue, 24 Apr 2018 06:59:43 -0500
The Dollar Index is a fantastic tool for forecasting movement on the major currency pairs. Here I give a comprehensive analysis and prediction for the dollar index. If you find this interesting please give me a like. Why not have a look at my site logicfxtrading. I'll update my ideas as they develop First rule of trading - Protect your capital Anyone trying to learn Elliott Wave Theory can find a FREE comprehensive Building Blocks video course on my website. See my profile for the link. You can also sign up for a comprehensive training program and daily trading room. You can also follow updates via twitter (link from my TV profile) Always wait for an entry set up before risking your money. This is not investment advice - it is purely for educational and discussion purposes. Your Ideas, comments and questions welcome Good luck Steve Nixon - logicfxtrading
US Dollar - Daily - Will it continue?
Tue, 24 Apr 2018 05:09:46 -0500
Trade Alert! Potential Long. Don't forget your SL.
DXY broke out of a flag to the upside
Mon, 23 Apr 2018 23:46:44 -0500
The fundamentals of rising U.S. interest rates are the backdrop for this rise in the U.S. dollar. Technically speaking, one can see positive divergences (in red) between the price and both the MACD and RSI indicators. Moreover, an EW may be forming, and if so, we are likely at point 3 in that case. Finally, the price seems to have broken out of a flag to the upside. However, if you are not already long, consider waiting for a re-test of the breakout line. The intraday charts suggest there could be a pause but you should use a chart of US bond prices and/or yields to help you triangulate your entry decision.
Dollar index: Type 2 reversal
Mon, 23 Apr 2018 23:06:45 -0500
On the last analyses the bullish crab was testing all number in the PRZ. The final test was revealed it to be a type 2 reversal. There is get correlation between the dollar index and the euro that also revealed extreme price action on the pair. If the dollar index closes as is there's greater probablilty of the pair reaching 80 - 90 % key level which will cause further decline for the euro.
USDX approaching resistance, potential drop!
Mon, 23 Apr 2018 21:29:51 -0500
USDX is approaching our first resistance at 90.93 (horizontal swing high resistance, 38.2% Fibonacci retracement, 61.8$, 100% Fibonacci extension). A strong reaction might occur below this level, pushing price down to our major support at 89.88 (horizontal overlap support). Stochastic (55,5,3) is also approaching our major resistance and a reaction off this level might be a good precursor for a potential drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Mon, 23 Apr 2018 19:35:37 -0500
Good potential risk reward here, could be a pullback wait for entry.
DXY Nearing Confirmation Point for Larger count.
Mon, 23 Apr 2018 18:27:02 -0500
Price is yet to breakout of this latest congestion zone and allows for two competing counts. The chart has the easiest description pictorially...with the WXY for the wave 4 of the major wave ii of 3/B bottom, Or, we already have the wave ii of 3/B bottom in place at the mid Feb low completion. Both counts look for strong upside into 2019, just timing of kickoff...already or into summer.
Dollar Index
Mon, 23 Apr 2018 18:25:31 -0500
Honestly I have no idea what the bull case is here other than an oversold technical bounce. Maybe you sniff up toward 92 but I doubt it even gets that far. Been hearing Dollar bottom calls the whole way down from DXY 103-104. Getting long USD here beyond short term seems like a suicide mission to me. Rising inflation pressures domestically will put downward pressure on the Dollar in the FX market, that's just how it works. Open to hearing ideas about what the bull case is though.
Mon, 23 Apr 2018 15:12:23 -0500
My current bias on DXY is bullish.
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