Another 48h - DXY (1h) Self-Sure Unsure
2024/10/18
Another 48h - DXY (1h) Self-Sure Unsure
“déjà-vu! hangover once again, like back than, in march 2017?”
Currently, in October 2024, while the TVC:DXY is currently trading at 103.526 on Friday evening, October 18, 2024 (Central European Time), this 103.820 price action area has proven to be the end of the rally for the time being! Why? Because a price action above 103.820 points clears the way for further highs in the medium term for the year 2025 - 106.517 (annual high in 2024) and/or also 107.348 (annual high in 2023)! But about this may be in the next few days. But let's zoom down from the big picture, the price action, to day-to-day business, today. And ask us the following questions today, which price action will answer for us in the coming days and weeks.
These 3 questions will not be answered in the next 48 hours. But surely later in the coming days and/or weeks. I have added Tuesday, November 5th, 2024 as an important date because the US elections will take place on that day. And that even though I don't know how to estimate the price action in this scenario! But who thinks that the elections have no influence?
103.511 points - (2024/10/18) - last price action
103.104 points - (2024/10/10) - high while last Inflation Data
102.720 points - (2024/10/10) - low while last Inflation Data
102.624 points - (2024/10/04) - high while last Labor Market Report
101.855 points - (2024/10/04) - low while last Labor Market Report
So let's focus on what we can define - from a technical analysis perspective - and determine what we will focus on. So on important price actions in order to then go long? to go short? or to keep the TVC:DXY on the watchlist? And then formulate a 4XSetUp again in the future. But at this point, in this post, we want to learn! And use technical indicators to measure the momentum of the upward movement to find out whether the strength, the dynamics of the price action can be enough for us to trade above 104.447 again? And these are, in addition to the highs and lows defined above on the relevant days of publication of the data, at least in my opinion, in addition to the highs and lows of the W formation (including the March 2017 hangover), 3 simple trend following indicators. Namely the 120, 480, and/or 1560 SMA.
103.511 points - (2024/10/18) - last price action
103.370 points - (2024/10/18) - SMA #3 120 HL2
102.230 points - (2024/10/18) - SMA #1 480 HL2
102.021 points - (2024/10/18) - SMA #2 1560 HL2
Because using the 120 SMA we have a visualized trendline that represents the trend of the last 5 trading days (1 week). And with the 480 SMA we have a visualized trendline that represents the trend of the last 20 trading days (4 weeks). And/Or with the 1560 SMA we have a visualized trendline that represents the trend of the last 65 trading days, even the last 13 weeks (1 quarter). So we can argue that if the price action continues to trade above all 3 trend lines, the probability of an upward breakout is still greater than a downward breakout. Because every price action always tends to move in a trend. And the trend, in the current week (SMA 120), in the current month (SMA 480), and or even in the current quarter (SMA 1560), is bullish. Why? Because the price action is above the respective SMA!
With best wishes
and with good intentions!
Aaron
Another 48h - DXY ... is pure information material.
By trying to give you even more information about the TVC:DXY every day to make even better trading decisions (buy/sell or do nothing). The goal of each day is from my side that you say to yourself after reading my daily analysis (Another 48h - DXY ...): "I didn't notice that before!" Because then you have received new information; yes - maybe even learned something!? If yes? Then give me a like - and continue reading tomorrow! Concrete 4XSetUps with entry price, target price and also stop price are available in the daily 4XSetUps...
Another 48h - DXY (1h) Self-Sure Unsure
“déjà-vu! hangover once again, like back than, in march 2017?”
Currently, in October 2024, while the TVC:DXY is currently trading at 103.526 on Friday evening, October 18, 2024 (Central European Time), this 103.820 price action area has proven to be the end of the rally for the time being! Why? Because a price action above 103.820 points clears the way for further highs in the medium term for the year 2025 - 106.517 (annual high in 2024) and/or also 107.348 (annual high in 2023)! But about this may be in the next few days. But let's zoom down from the big picture, the price action, to day-to-day business, today. And ask us the following questions today, which price action will answer for us in the coming days and weeks.
- Does The W Formation Resolve Upwards 104.702?
- Will The Wall Be Breached Above 103.820?
- Where US Data Strong Enough For Outbreak?
These 3 questions will not be answered in the next 48 hours. But surely later in the coming days and/or weeks. I have added Tuesday, November 5th, 2024 as an important date because the US elections will take place on that day. And that even though I don't know how to estimate the price action in this scenario! But who thinks that the elections have no influence?
“I believe the market prices are always wrong in the sense that they present a biased view of the future.”
George Soros
103.511 points - (2024/10/18) - last price action
103.104 points - (2024/10/10) - high while last Inflation Data
102.720 points - (2024/10/10) - low while last Inflation Data
102.624 points - (2024/10/04) - high while last Labor Market Report
101.855 points - (2024/10/04) - low while last Labor Market Report
So let's focus on what we can define - from a technical analysis perspective - and determine what we will focus on. So on important price actions in order to then go long? to go short? or to keep the TVC:DXY on the watchlist? And then formulate a 4XSetUp again in the future. But at this point, in this post, we want to learn! And use technical indicators to measure the momentum of the upward movement to find out whether the strength, the dynamics of the price action can be enough for us to trade above 104.447 again? And these are, in addition to the highs and lows defined above on the relevant days of publication of the data, at least in my opinion, in addition to the highs and lows of the W formation (including the March 2017 hangover), 3 simple trend following indicators. Namely the 120, 480, and/or 1560 SMA.
103.511 points - (2024/10/18) - last price action
103.370 points - (2024/10/18) - SMA #3 120 HL2
102.230 points - (2024/10/18) - SMA #1 480 HL2
102.021 points - (2024/10/18) - SMA #2 1560 HL2
Because using the 120 SMA we have a visualized trendline that represents the trend of the last 5 trading days (1 week). And with the 480 SMA we have a visualized trendline that represents the trend of the last 20 trading days (4 weeks). And/Or with the 1560 SMA we have a visualized trendline that represents the trend of the last 65 trading days, even the last 13 weeks (1 quarter). So we can argue that if the price action continues to trade above all 3 trend lines, the probability of an upward breakout is still greater than a downward breakout. Because every price action always tends to move in a trend. And the trend, in the current week (SMA 120), in the current month (SMA 480), and or even in the current quarter (SMA 1560), is bullish. Why? Because the price action is above the respective SMA!
With best wishes
and with good intentions!
Aaron
Another 48h - DXY ... is pure information material.
By trying to give you even more information about the TVC:DXY every day to make even better trading decisions (buy/sell or do nothing). The goal of each day is from my side that you say to yourself after reading my daily analysis (Another 48h - DXY ...): "I didn't notice that before!" Because then you have received new information; yes - maybe even learned something!? If yes? Then give me a like - and continue reading tomorrow! Concrete 4XSetUps with entry price, target price and also stop price are available in the daily 4XSetUps...
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