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Winning 5 in a row! I am now 6 wins and 2 losses respectively.
DXY continues as one of my best performing analyses in the platform.
Upcoming High Impact Economic Report
There are 4 US major economic releases remaining this week but the US Dollar has been sold heavily after a dovish FOMC statement with willingness to cut rates three times this year.
Inflation is still there but in my honest personal opinion, the Fed is more political than fixing the US economy.
The US Dollar depicted by the DXY index has continued an upward trajectory after ending its 23-day down trend last March 8.
In light of the Greenback’s recent sell-off, the index remains stronger macro-economically with the Fed continued battle against inflation and expected unchanged rates.
However, the FOMC statement is negative and the general markets has feasted upon it.
With an on-going geo-political tension through a potential Russian-Ukraine conflict expansion across the Europe, majority will sell stocks at the right time.
The US bond yields have eased today but tend to rise through a reawakening Dollar and may help sustain the newfound 12-day up trend.
Trade Plan
During mid week, the DXY index has successfully broke out on the weekly and re-tested above the 200-day SMA but lose it again.
There’s a strong rejecting pin bar on the weekly.
At time of writing this article, DXY is ranging intraday but after finding the long term 23.60% fib level as a support, it may re-test the lost 200-day SMA again at least!
The US dollar is a victim of buy rumors and sell news but I remain a buyer for now.
Its recent drop is a clear and clean pull back.
After confirming a nearby flipped S/R, I will enter a new long position through these orders:
Buy Entry: 103.45
Stop Loss: 103.15
Take Profit: 103.90
Risk to Reward Ratio: 1.50
Conclusion
I’m targeting the 4H 200-SMA as take profit while setting up the stop loss below intraday’s low.
Good luck.
Trading involves risk.
#DXY #USDollar
DXY continues as one of my best performing analyses in the platform.
Upcoming High Impact Economic Report
There are 4 US major economic releases remaining this week but the US Dollar has been sold heavily after a dovish FOMC statement with willingness to cut rates three times this year.
Inflation is still there but in my honest personal opinion, the Fed is more political than fixing the US economy.
The US Dollar depicted by the DXY index has continued an upward trajectory after ending its 23-day down trend last March 8.
In light of the Greenback’s recent sell-off, the index remains stronger macro-economically with the Fed continued battle against inflation and expected unchanged rates.
However, the FOMC statement is negative and the general markets has feasted upon it.
With an on-going geo-political tension through a potential Russian-Ukraine conflict expansion across the Europe, majority will sell stocks at the right time.
The US bond yields have eased today but tend to rise through a reawakening Dollar and may help sustain the newfound 12-day up trend.
Trade Plan
During mid week, the DXY index has successfully broke out on the weekly and re-tested above the 200-day SMA but lose it again.
There’s a strong rejecting pin bar on the weekly.
At time of writing this article, DXY is ranging intraday but after finding the long term 23.60% fib level as a support, it may re-test the lost 200-day SMA again at least!
The US dollar is a victim of buy rumors and sell news but I remain a buyer for now.
Its recent drop is a clear and clean pull back.
After confirming a nearby flipped S/R, I will enter a new long position through these orders:
Buy Entry: 103.45
Stop Loss: 103.15
Take Profit: 103.90
Risk to Reward Ratio: 1.50
Conclusion
I’m targeting the 4H 200-SMA as take profit while setting up the stop loss below intraday’s low.
Good luck.
Trading involves risk.
#DXY #USDollar
The US Dollar index (DXY) gives us further insights across the general markets. I am aiming to send regular updates on day-to-day basis.
Traders and speculators are fully aware that the DXY index is a relative measure of strength value against six major currencies namely Euro, Pound, Yen, Canadian Dollar, Swedish Korner, and Swiss Franc. The index was created in 1973, but remains useful to this day.
Based on my observations, the DXY index is one of the tools that is useful to get trading confluences or confirmations from to help me on my trading decisions across the markets I speculate/trade with including Forex, Cryptocurrency, Stocks, Commodities and Indices. Although one must not fully rely on it and do utmost due diligence.
The US dollar index can be directly traded depending on the broker of your choice. Trading involves risk.
For the intraday, I am expecting the index to find support on 103.90-104.10 range if it cannot trade back inside the two 4H FVGs I drawn in the chart below.
The index just printed a new 82-day high as our immediate resistance confirmed by the double top candles shown. Switch to the daily chart to see the double top clearly.
On top of that, there’s also a huge 1D gap as massive resistance to be cleared first if dollar wants to go higher.
However, if price goes back inside the two 4H FVG territories especially if able to completely retrace the bearish FVG, then there’s a probability for a new high!
On fundamental side, the Greenback gained bullish momentum with no possible March rate cuts, strong NFP and unemployment data recently.
Next week will have CPI figures report and the index is still likely to have strong bids.
Full read here:
https://www.finlogix.com/analysis/20240207/us-dollar-dxy-index-intraday-analysis-for-february-7-2024
#Write2Earn #DXY #USDollar #USD #Dollar
Traders and speculators are fully aware that the DXY index is a relative measure of strength value against six major currencies namely Euro, Pound, Yen, Canadian Dollar, Swedish Korner, and Swiss Franc. The index was created in 1973, but remains useful to this day.
Based on my observations, the DXY index is one of the tools that is useful to get trading confluences or confirmations from to help me on my trading decisions across the markets I speculate/trade with including Forex, Cryptocurrency, Stocks, Commodities and Indices. Although one must not fully rely on it and do utmost due diligence.
The US dollar index can be directly traded depending on the broker of your choice. Trading involves risk.
For the intraday, I am expecting the index to find support on 103.90-104.10 range if it cannot trade back inside the two 4H FVGs I drawn in the chart below.
The index just printed a new 82-day high as our immediate resistance confirmed by the double top candles shown. Switch to the daily chart to see the double top clearly.
On top of that, there’s also a huge 1D gap as massive resistance to be cleared first if dollar wants to go higher.
However, if price goes back inside the two 4H FVG territories especially if able to completely retrace the bearish FVG, then there’s a probability for a new high!
On fundamental side, the Greenback gained bullish momentum with no possible March rate cuts, strong NFP and unemployment data recently.
Next week will have CPI figures report and the index is still likely to have strong bids.
Full read here:
https://www.finlogix.com/analysis/20240207/us-dollar-dxy-index-intraday-analysis-for-february-7-2024
#Write2Earn #DXY #USDollar #USD #Dollar
The US Dollar DXY index remains bullish on according to the Yearly candle with the Monthly changed to Green Top with both long head and tail wicks suggesting equal buyers and sellers’ strength for this month.
Meanwhile, the weekly and daily candles dips have confirmed the 50% fib retracement again as support. The previous October 2023 high and December 2023 low are the reference points of this fib level.
The recent 91-day high double top candles proved to be the new resistance while the previous 82-day high double top candles failed to offer immediate support as a result these two levels will be the resistances respectively.
With few hours on the New York trading session to open, I am going to create a new trade plan.
Trade Plan
From what I’m seeing, DXY is likely to fall after a consolidating rally, its up trend might end even the macroeconomics and geopolitics weigh in favor of the Greenback. I change to look for sell setups.
There’s still a large 4H FVG that has not been tested yet if DXY wants to go higher again or lower changing the current trend.
I will setup a short order against the intraday rally attempts with a stop loss above the 82-day supply and taking profit by attacking the 50% fib retracement of that 4H FVG.
All for a 1.55 risk to reward score.
Conclusion
For now this will be my playbook for the US dollar DXY index.
Good luck on this one.
Stay tune to my next analysis.
Trading involves risk.
Full read here:
https://www.finlogix.com/analysis/20240221/us-dollar-dxy-index-intraday-analysis-for-february-21-2024
#Write2Earn #DXY #USDollar
Meanwhile, the weekly and daily candles dips have confirmed the 50% fib retracement again as support. The previous October 2023 high and December 2023 low are the reference points of this fib level.
The recent 91-day high double top candles proved to be the new resistance while the previous 82-day high double top candles failed to offer immediate support as a result these two levels will be the resistances respectively.
With few hours on the New York trading session to open, I am going to create a new trade plan.
Trade Plan
From what I’m seeing, DXY is likely to fall after a consolidating rally, its up trend might end even the macroeconomics and geopolitics weigh in favor of the Greenback. I change to look for sell setups.
There’s still a large 4H FVG that has not been tested yet if DXY wants to go higher again or lower changing the current trend.
I will setup a short order against the intraday rally attempts with a stop loss above the 82-day supply and taking profit by attacking the 50% fib retracement of that 4H FVG.
All for a 1.55 risk to reward score.
Conclusion
For now this will be my playbook for the US dollar DXY index.
Good luck on this one.
Stay tune to my next analysis.
Trading involves risk.
Full read here:
https://www.finlogix.com/analysis/20240221/us-dollar-dxy-index-intraday-analysis-for-february-21-2024
#Write2Earn #DXY #USDollar
I called the US Dollar DXY index to rally this week after a 23-day down trend.
Developing a small up wave towards the 200-day SMA.
From there it can drop but till then it will rally.
Will adjust further developments soon.
Complete Finlogix analysis here:
https://www.finlogix.com/analysis/20240313/us-dollar-dxy-intraday-analysis-and-trading-plan-for-march-13-2024
Trading involves risk.
#DXY #USDollar #Trading
Developing a small up wave towards the 200-day SMA.
From there it can drop but till then it will rally.
Will adjust further developments soon.
Complete Finlogix analysis here:
https://www.finlogix.com/analysis/20240313/us-dollar-dxy-intraday-analysis-and-trading-plan-for-march-13-2024
Trading involves risk.
#DXY #USDollar #Trading
The DXY index has printed a fresh 48-day high during the intraday rally.
Markets remained in volatile sessions as we head into the mid-week.
Re-assessing the US Dollar DXY index high timeframe candles:
Yearly Candle: Last check is a Green Shaven Bottom with a Diminishing Head Wick now a Green Body
Monthly Candle: Previous close is a Green Long Lower Shadow current is a Green Body
Weekly Candle: Previous close is a Green Small Bodied Doji current is a Green Body
Daily Candle: Previous close is a Green Body with a Longer Head Wick current is developing a Small Green Spinning Top
The strong March macroeconomic reports has sustained for DXY bids resulting in a 25-day uptrend continuation.
The last time I checked DXY’s March candle, it was in a green dragonfly doji formation that has extended its bullish trajectory by closing in a green long lower shadow.
Today’s high has broken yesterday’s top and according to the current daily candle formation mentioned above, we can see a bullish opening gap.
This gap must not be fully retraced if the index wants to continue higher avoiding a double daily top formation.
Trade Plan
With the DXY refusing to give up the newly reclaimed 105 level, I think the index will continue to rally upwards challenging the strong 105.50 to 106.60 premium levels.
My plan is to set a bid on potential pullbacks, and wait for them patiently.
Although, the current price is a tempting buy position but better to observe and wait for pullbacks first.
New buy orders:
Buy Entry: 104.75
Stop Loss: 104.40
Take Profit: 105.90
Risk to Reward Ratio: 3.29
Conclusion
Whether or not the intraday opening gap is fully retraced, the Greenback will have lots of buybacking pressures.
This is what I see for now.
I’m targeting the November 10, 2023 swing high order blocks to take profit while setting up a stop loss below yesterday’s low.
Trading involves risk.
#USDollar #DXY
Full read:
https://www.finlogix.com/analysis/20240402/dxy-intraday-analysis-and-trading-plan-for-april-2-2024
Markets remained in volatile sessions as we head into the mid-week.
Re-assessing the US Dollar DXY index high timeframe candles:
Yearly Candle: Last check is a Green Shaven Bottom with a Diminishing Head Wick now a Green Body
Monthly Candle: Previous close is a Green Long Lower Shadow current is a Green Body
Weekly Candle: Previous close is a Green Small Bodied Doji current is a Green Body
Daily Candle: Previous close is a Green Body with a Longer Head Wick current is developing a Small Green Spinning Top
The strong March macroeconomic reports has sustained for DXY bids resulting in a 25-day uptrend continuation.
The last time I checked DXY’s March candle, it was in a green dragonfly doji formation that has extended its bullish trajectory by closing in a green long lower shadow.
Today’s high has broken yesterday’s top and according to the current daily candle formation mentioned above, we can see a bullish opening gap.
This gap must not be fully retraced if the index wants to continue higher avoiding a double daily top formation.
Trade Plan
With the DXY refusing to give up the newly reclaimed 105 level, I think the index will continue to rally upwards challenging the strong 105.50 to 106.60 premium levels.
My plan is to set a bid on potential pullbacks, and wait for them patiently.
Although, the current price is a tempting buy position but better to observe and wait for pullbacks first.
New buy orders:
Buy Entry: 104.75
Stop Loss: 104.40
Take Profit: 105.90
Risk to Reward Ratio: 3.29
Conclusion
Whether or not the intraday opening gap is fully retraced, the Greenback will have lots of buybacking pressures.
This is what I see for now.
I’m targeting the November 10, 2023 swing high order blocks to take profit while setting up a stop loss below yesterday’s low.
Trading involves risk.
#USDollar #DXY
Full read:
https://www.finlogix.com/analysis/20240402/dxy-intraday-analysis-and-trading-plan-for-april-2-2024
I’m on a 6-win streak with an overall record of 7 wins and 2 losses since January.
Stay with me to the end as I unfold another idea.
Upcoming High Impact Economic Report
Only 1 US major economic data left due later tonight.
When everyone thought of a weakening US Dollar, I’ve seen the opposite way!
Yesterday is a roller coaster ride for the DXY index.
After an initial sell-off from from the dovish toned FOMC speech early morning, Greenback has retaliated in the evening with fashion from a split majority 3 economic inflation barometers favoring it!
Even breaking its week’s high at press time!
Intraday Analysis
The US Dollar DXY index has defied the odds against a bearish thesis!
After able to find willing buyers through its long term 23.60% fib level, it sustained the weekly breakout and re-gained control on the 200-day SMA trading highly above it.
The US bond yields have eased since yesterday. A confirmed rise may further sustain the index’s newfound 12-day up trend.
Trade Plan
Exactly as planned yesterday, so today I continue buying the Dollar on its strength.
Yes it’s has entered a strong supply from previous 23-day down trend, but as said earlier, it has re-conquered the 200-day SMA as a strong support so the Greenback stays bid to finish Friday’s sessions.
On the 4H chart, we can see multiple rallies that are helping the flipped S/R area as a support that continued the new up trend.
The strong rejecting pin bar on the weekly view has been mutated into a Green bodied candle suggesting strong willed DXY bulls.
I maintain to buy intraday pull backs with the following new buy orders:
Buy Entry: 104.19
Stop Loss: 103.89
Take Profit: 104.89
Risk to Reward Ratio: 2.33
Conclusion
This time I’m targeting the 48-day up trend high formed last February 14 with stop loss set on a complete annihilation of today’s low.
Good luck again.
Trading involves risk.
More details at:
https://www.finlogix.com/analysis/20240321/us-dollar-dxy-intraday-analysis-and-trading-plan-for-march-21-2024
#DXY #USDollar #Trading #Analysis
Stay with me to the end as I unfold another idea.
Upcoming High Impact Economic Report
Only 1 US major economic data left due later tonight.
When everyone thought of a weakening US Dollar, I’ve seen the opposite way!
Yesterday is a roller coaster ride for the DXY index.
After an initial sell-off from from the dovish toned FOMC speech early morning, Greenback has retaliated in the evening with fashion from a split majority 3 economic inflation barometers favoring it!
Even breaking its week’s high at press time!
Intraday Analysis
The US Dollar DXY index has defied the odds against a bearish thesis!
After able to find willing buyers through its long term 23.60% fib level, it sustained the weekly breakout and re-gained control on the 200-day SMA trading highly above it.
The US bond yields have eased since yesterday. A confirmed rise may further sustain the index’s newfound 12-day up trend.
Trade Plan
Exactly as planned yesterday, so today I continue buying the Dollar on its strength.
Yes it’s has entered a strong supply from previous 23-day down trend, but as said earlier, it has re-conquered the 200-day SMA as a strong support so the Greenback stays bid to finish Friday’s sessions.
On the 4H chart, we can see multiple rallies that are helping the flipped S/R area as a support that continued the new up trend.
The strong rejecting pin bar on the weekly view has been mutated into a Green bodied candle suggesting strong willed DXY bulls.
I maintain to buy intraday pull backs with the following new buy orders:
Buy Entry: 104.19
Stop Loss: 103.89
Take Profit: 104.89
Risk to Reward Ratio: 2.33
Conclusion
This time I’m targeting the 48-day up trend high formed last February 14 with stop loss set on a complete annihilation of today’s low.
Good luck again.
Trading involves risk.
More details at:
https://www.finlogix.com/analysis/20240321/us-dollar-dxy-intraday-analysis-and-trading-plan-for-march-21-2024
#DXY #USDollar #Trading #Analysis
Took a profit in yesterday's call and here's a new one.
Intraday Analysis
Re-assessing the US Dollar DXY index high timeframe candles:
Yearly Candle: Still an Inverted Green Hammer since last check
Monthly Candle: Still a Red Body with Longer Tail Wick since last check
Weekly Candle: Last check is a Small Green Spinning Top now a Green Long Upper Shadow
Daily Candle: Previous close is a Green Long Upper Shadow current is a Red Doji
Yesterday’s CPI results have gone in full favor of the Greenback as expected.
The US Dollar index is not giving up its gains just yet.
There is a chance of a new up wave after support sustenance on the 101.90-102 levels.
If the yearly candle is able to hold and close in the inverted green hammer pattern is it in right now dragging to April, then it is safe to say that DXY might go up again.
Both the current weekly and yesterday’s daily candle close in Green Long Upper Shadow suggesting that a quick profit taking has occurred creating a swift pullback towards nearby support levels.
Trade Plan
DXY will have strong bids for the day.
I think it will seek a higher high this week before a potential drop.
I remain a buyer for now trying to buy the pullbacks and sell to the next possible highs.
These are the following new long entries:
Buy Entry: 102.93
Stop Loss: 102.65
Take Profit: 103.40
Risk to Reward Ratio: 1.68
Conclusion
In yesterday’s trade, I took profit on the bearish 4H FVG full retracement which actually happened.
So I will buy a market price again but this time targeting a higher high near the 4H 50-SMA and OB residing in the 38.20% fib retracement from February 14 swing high to March 8 swing low with a same stop loss a little below March 10 lows.
Good luck again.
Trading involves risk.
Full read:
https://www.finlogix.com/analysis/20240313/us-dollar-dxy-intraday-analysis-and-trading-plan-for-march-13-2024
#DXY #USDollar #Write2Erarn
Intraday Analysis
Re-assessing the US Dollar DXY index high timeframe candles:
Yearly Candle: Still an Inverted Green Hammer since last check
Monthly Candle: Still a Red Body with Longer Tail Wick since last check
Weekly Candle: Last check is a Small Green Spinning Top now a Green Long Upper Shadow
Daily Candle: Previous close is a Green Long Upper Shadow current is a Red Doji
Yesterday’s CPI results have gone in full favor of the Greenback as expected.
The US Dollar index is not giving up its gains just yet.
There is a chance of a new up wave after support sustenance on the 101.90-102 levels.
If the yearly candle is able to hold and close in the inverted green hammer pattern is it in right now dragging to April, then it is safe to say that DXY might go up again.
Both the current weekly and yesterday’s daily candle close in Green Long Upper Shadow suggesting that a quick profit taking has occurred creating a swift pullback towards nearby support levels.
Trade Plan
DXY will have strong bids for the day.
I think it will seek a higher high this week before a potential drop.
I remain a buyer for now trying to buy the pullbacks and sell to the next possible highs.
These are the following new long entries:
Buy Entry: 102.93
Stop Loss: 102.65
Take Profit: 103.40
Risk to Reward Ratio: 1.68
Conclusion
In yesterday’s trade, I took profit on the bearish 4H FVG full retracement which actually happened.
So I will buy a market price again but this time targeting a higher high near the 4H 50-SMA and OB residing in the 38.20% fib retracement from February 14 swing high to March 8 swing low with a same stop loss a little below March 10 lows.
Good luck again.
Trading involves risk.
Full read:
https://www.finlogix.com/analysis/20240313/us-dollar-dxy-intraday-analysis-and-trading-plan-for-march-13-2024
#DXY #USDollar #Write2Erarn
🚀 Saudi Arabia Ditches the U.S. Dollar: Implications for Crypto 🚀
Saudi Arabia has made a groundbreaking move by reducing its reliance on the U.S. dollar in international trade, signaling a shift towards economic diversification. This decision aligns with the country's broader strategy to enhance its financial sovereignty. The shift could bolster the adoption of cryptocurrencies like Bitcoin and Ethereum as alternative payment methods. By embracing digital currencies, Saudi Arabia could further diversify its financial ecosystem and mitigate the risks associated with traditional fiat currencies.
#SaudiArabia #USDollar #Cryptocurrency #Bitcoin
#Ethereum
$ETH
$BTC
Saudi Arabia has made a groundbreaking move by reducing its reliance on the U.S. dollar in international trade, signaling a shift towards economic diversification. This decision aligns with the country's broader strategy to enhance its financial sovereignty. The shift could bolster the adoption of cryptocurrencies like Bitcoin and Ethereum as alternative payment methods. By embracing digital currencies, Saudi Arabia could further diversify its financial ecosystem and mitigate the risks associated with traditional fiat currencies.
#SaudiArabia #USDollar #Cryptocurrency #Bitcoin
#Ethereum
$ETH
$BTC
🌍💼 **Global Financial Shift: US Dollar’s Dominance Declines** 💼🌍
Recent data from the IMF reveals a significant drop in the dominance of the US dollar on the global stage. 📉 This shift is reshaping international trade and economic relations, signaling profound changes in the financial landscape. 🌐💸
---
🔍 **What This Means:**
- **International Trade**: Countries are diversifying their currencies for trade, reducing reliance on the US dollar. 🌍🔄
- **Economic Relations**: New alliances and economic partnerships are emerging, altering global power dynamics. 🌏🤝
- **Financial Markets**: Investors and markets are adjusting to a more multi-currency world, impacting investments and strategies. 📊💹
---
🧐 Why It Matters:
- Stability & Risk: Reduced dollar dominance could lead to greater currency stability and diversification, but also new risks. 🏦🔀
- Geopolitical Influence: The US might see a shift in its geopolitical influence as other currencies gain prominence. 🌎⚖️
---
🌟 Stay Informed:
- Follow Trends: Keep an eye on currency markets and global trade news. 🌐📈
- Diversify Assets: Consider diversifying investments to hedge against currency shifts. 💰🌍
---
📢 Join the Conversation:
Share your thoughts on this evolving financial landscape! 💬🌐
#GlobalEconomy #USDollar #IMFReport #InternationalTrade #EconomicShifts $BTC $ETH $BNB
Recent data from the IMF reveals a significant drop in the dominance of the US dollar on the global stage. 📉 This shift is reshaping international trade and economic relations, signaling profound changes in the financial landscape. 🌐💸
---
🔍 **What This Means:**
- **International Trade**: Countries are diversifying their currencies for trade, reducing reliance on the US dollar. 🌍🔄
- **Economic Relations**: New alliances and economic partnerships are emerging, altering global power dynamics. 🌏🤝
- **Financial Markets**: Investors and markets are adjusting to a more multi-currency world, impacting investments and strategies. 📊💹
---
🧐 Why It Matters:
- Stability & Risk: Reduced dollar dominance could lead to greater currency stability and diversification, but also new risks. 🏦🔀
- Geopolitical Influence: The US might see a shift in its geopolitical influence as other currencies gain prominence. 🌎⚖️
---
🌟 Stay Informed:
- Follow Trends: Keep an eye on currency markets and global trade news. 🌐📈
- Diversify Assets: Consider diversifying investments to hedge against currency shifts. 💰🌍
---
📢 Join the Conversation:
Share your thoughts on this evolving financial landscape! 💬🌐
#GlobalEconomy #USDollar #IMFReport #InternationalTrade #EconomicShifts $BTC $ETH $BNB
If you're looking to trade crypto 24/7 automatically even while you sleep then you need this crypto Robot.
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The software searches for buy an sell positions where you will always be in profit. $120 usdt a year is what you pay for this software. You purchase and connect it to your crypto account.
I have been making serious money for the past 1 year with this. Nobody has access to your account besides you.
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