AUDUSD long ideaI like that 0.66200 held, I want to see 0.66320 hold and then new highs above 0.66615.
Weakdollar
Dollar Index: Vulnerable Support Ahead of CPI Inflation Data Ahead of this week’s CPI inflation print, the US Dollar Index has moderately bounced back from support at 102.78. Despite benefiting from additional channel support (taken from the low of 103.65) and the Relative Strength Index (RSI) recently shaking hands with oversold space (< 30.00), bullish resolve from the support has been uninspiring.
Lacklustre Rebound from Support
The lacklustre reply from support could be due to sentiment favouring bears; since topping at 106.13 in late June, sellers have dominated price action, pushing the unit through the 200-day Simple Moving Average (SMA) at 104.21.
Further Downside?
Should bulls change gears and extend the pullback from support, resistance at 104.02 calls for attention. This base also shares chart space with channel resistance (extended from the high of 106.13), and the 200-day SMA underlined above. Alternatively, in light of the feeble response from current support and sentiment favouring downside at this point, breaching current support could be on the table this week, with the pendulum swinging in favour of reaching support from 101.78 and 101.01.
Bitcoin Headed To The Golden Zone From swing low to swing high, we can see more than 78% retracement happened. Next is swing high to swing low, that's where i marked off the golden zone so 40K is possible again.
Also with the mighty dollar approaching its supply zone and heading into retracement, the market must take advantage of the momentum, as they should.
Patience wins all.
Keep rising.
Always Due Diligence!
$USDJPY YEN rollover Q2! LONG YENThis is not a test!!!
Yen is going to gain maximum strength in the next 90 days during the 2nd QTR.
I cannot legally say as to why but the hunch is strong. Looking for a soft rollover to close the month around 130 flat (3/31/23)
Q2 2022 we saw a major short begin on Yen pairs (USDJPY 122-150!)
We are now seeing the retracing PLUS to create a very strong Japanese economy.
THIS SHORT CAN GO ALL THE WAY TO 115! That is how overbought UJ is as a pair.
The Weekly + monthly shows this slow retrace gaining traction.
My FAV is USDJPY and GBPJPY both looking to short.
130.4 is a good entry to prepare for Q2. This can be volatile as many US trading platforms heavily short Yen as a makeshift safe haven.
133.5 can invalidate this short sell.
TP1: 125.1
TP2: 122.1
TP3: 117.2
****NOT FINANCIAL ADVICE****
XAUUSD ReversalHello traders.
Today's news for weak USD and falling yields impacted on this huge move for gold.
I 've change my point of view for the pair due to this vigorous price action.
But such a big candle means that the price has being fueled with big orderblocks and in someway left a 'gap' back.
I expect at least 50% retracement which will be a great entry point for long continuation as my first path line indicates (169x area).
What is more, the price may correct lower to 1683 area as for the retest which will be again great for buy (neglect in this case the resistance).
In a daily perspective, the bearish trendline has been violated and retested!! Which meant nothing until the moment of Gold bullish price action indicating reversal.
DXY has still further space for lower lows. Treasury yields too.
P.s. it may correct a little e.g. 1705 area and continue straigh up. My overall targets are 1730 - 1761-1802.
With such power I believe the recent supply of 1730 level will be past in the coming days. Important news from USA coming so keep an eye.
Awaiting your feedback!
Goodluck everybody!
The Fall of Dollar is Around the Corner ... Bearish Dollar?DXY is close to a premium array (-OB)
Dollar Price is Bearish Long Term. The Open of the OB (116.457) would be ideal to expect the sell come in...
Confirmation is vital in my trading so won't just enter straight away.
I will post another idea for the sell entry.
This is just to call y'all attention to what I see on DXY.
If the sell does come in then the First Target on Monthly TF would be 88.493.
Follow for more quality trade Ideas...Trade Safe ;)
DXY: TIME for USD PULLBACKS?Hey traders, in this week we are monitoring DXY for a selling opportunity around 104 zone, once we will receive any bearish confirmation the trade will be executed.u
we highly recommend to take a look at DXY at the beginning of every trading week if not everyday, that will help you to trade USD pairs more professionally and spot their direction!
Trade safe, Joe.
XAUUSD swings higher to test 1810-1830!Last week we were able to test the lows of 1783. We ended the year above 1800 only to dip the first week of 2022 possibly creating a makeshift bottom for the month.
I anticipate gold to swing higher to test minimum 1801-1804 levels and if volume permitting to rolling into 1810+.
If you look to the left my fixed range volume profile has the POC tapped from NFP and looking to swing to its highest up volume area of 1802-1808.
NFP on 1/7/22 did not provide the fuel for a real gold move.
Weak DXY failing 96.4 gives me confidence it wants to test 95 flat or high 94 levels as the US gov struggles to pull the cord + potential tech market crash.
MA 200 is at 1794 on 4HR (which it fully closed above)
MA 200 is at 1800 on Daily
My entries:
1790.5
1796.7
buy stop @ 1798
Move is invalid if 4HR close under 1785 support zone.
IF FAIL NEXT LEVEL IS RED 1760S and lower to 1730s
SHORT POSITION ON DXYAs we can see by the illustration we have an up trend that has broken to the downside with retest already completed. I am anticipating weakness od the dollar from here on in. Will update as time goes on, stay tuned!
Good Luck.
God Bless!
DOLLAR INDEX TIME FOR SHORT BREAKOUTThe dollar has been on a mission, which has shocked a lot of investors considering the FED keeps printing money!
When will this strange rally end?
We would love to see a slight pullback with signs of rejection before we sell off a wipe out a good chunk of buyers.
Breakout of this descending formed channel It'll push price downward thereby affecting USD Pairs.
The price is moving between strong key resistance and the breakout will move to target of key support 92.50
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STRONG EURUSD LONG IN WEEKS TO COME? Maybe Good day Friends
Ive been looking at EURUSD BECAUSE IT HAS FALLEN INT0 A SIGNIFICANT AREA.
We clearly know the month has been overall bullish (beginni. Marked by the black line), The market has reach a clear bullish exhaustion area (highest high). Price has broken a level/zone(Marked Red) meant to push price back down but it found resistance/supply later on a mid zone(marked white) and has reversed to use the previously broken zone as ground to lift off.
You can mark down lines and monitor H4 for bullish reversal candles, **bullish eng. pinbar
Kindly Share your ideas and questions in the comment section
AUDUSD long position!Confluences:
-enter on the retest of the break of consolidation
-broke out of the downward channel
-weak DXY
-strong bullish momentum to break the box
AUDUSD Correcting. Uptrend still intact.#AUDUSD:
(1D):
Also here the USD is getting weaker, resulting in a clear uptrend, which is confirmed by the 200 EMA as well. After last complex consolidation, the chart has been overextending for quite some time, so consolidation was to be expected.
(4H):
On a shorter period indeed, we have a downtrend. We recently had a fakeout to the downside, when sellers tried to accelerate without result.
(1H):
Right now, we have a range which means indecision in the market. This also means that we could see a deeper correction, as well as a strong uptrendtrend rebound if broken to the upside. This aligns with gold analysis (AUD positively correlates with XAU).
Bitcoin (BTCUSD) coming back to ATH?Recent price action is showing a 30% dip rejected by the 30k psychological level and proven support.
On the 4H we have a double bottom being broken to the upside, confirming the potential reversal. If we can see a break of the higher TF corrective structure, we will soon see ATH being touched once again.
EURUSD on the path to test 1.22#EURUSD:
(1D):
As expected from last week's analysis, EU came all the way back to support around 1.205 to bend to the upside once again, following the overall bullish direction. We are about to see 1.22 resistance being tested, where I will be looking for a bullish opportunity once broken to the upside.
(4H):
On the lower timeframe, we have more detailed information above the retracing leg down on 1D. Namely a falling wedge, eventually broken and retested.
(1H):
Price action has been quite choppy as of late. For this reason, i will be waiting for a bullish bullish continuation setup once across next resistance, aiming for the 4H wedge top. If developing on a larger scale, i will be interested to see 1.24 as next target.
short-term bullish dollar play UUPThe dollar has bounced off its bottom trend line. After having such a long period of weakening, it is due to bounce back a bit. It is extremely rare for the dollar to not reverse the trend after an extended period of strength or weakness.
It may not rally back much, but it will give you some gains in the short-term. Sell half when it hits the upper trend line and let the other half ride. There have been some contrarian calls on Wall Street for a surprisingly strong dollar.
UUP is a way to play the bullish dollar. I currently have a vertical call spread expiring 2/19 with the buy-strike being $24 and the sell-strike being $26.
DXY short ideaThe price just made a double top after filling yesterday's gap.
We are also near a strong trendline and i think that price is preparing to reach 89.00 with this pattern.
Let's see if my prediction is correct.
Like and follow for more!
USD WEAK WEAK WEAKUS Dollar is very weak against all currencies. We will be looking to sell usd on any retracement against all currencies.
US Dollar still bearish (USDJPY trade active)#USDJPY (Possible trade idea):
(1D):
The higher timeframe has been bearish for quite some time during 2020, and this trend hasn't changed. Still bearish bias confirmed by the 200 EMA and structure. Also fundamentally, US money printing won't stop any time soon. Technically, A wide range retest occurred, pushing the pair to the downside.
(4H):
Looking closer, the said retest on the daily timeframe resulted in a bearish continuation triangle, also broken to the downside.
(1H):
Recently, the price has been ranging in a smaller range and going through London session, it seems we have an interesting opportunity on its break and retest. Target would be at next support at 101.500
dxy tank to 92.60Struggling dollar going into a senior citizens election.
Wants to test 93.24 and may possibly rebound to attempt a 94 bullish impulse but shall inevitably fall to 92.60.
(can possibly fall lower to SUB 92)
Early 4th qtr test
Gold to test 1940-6**Struggling dollar vs safe haven. Gold standard to come
**May test 1898.3* if test 1895 then blown trade.
(can consolidate at 1920 to gain fuel for rocket)
Early 4th qtr test
Yen to SWIM to 104.4 levelsStruggling dollar vs pumping yen.
**May test 105.8** if test 106 then blown trade.
Early 4th qtr test
We Did It Again..So The Take Profit Was HIT!
Right from here onwards, on the hourly support in the past price has bounced back off to atleast 1700. So lets wait for the new hourly candle and see where this one takes us.
If it resists then GO LONG.
If it breaks then GO SHORT.
It's a simple equation.
