Another 48h - DXY (1h) Soft Landing Scenario Seems To Inspire

“I developed a theory of salesmanship based on the principle that one must not on any account identify oneself with the merchandise one is selling. Selling is a game where you score when you make a sale. If you allow your ego to be involved, the customer can brush you off and you lose; but if you do not identify yourself with your work you will be able to redouble your efforts when you are rejected, and if you make a sale you come out the winner.”
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Another 48h - DXY (1h)#
Soft Landing Scenario Seems To Inspire
"according to the latest us labor market data & us inflation data"

104.426 points - (2024/08/02) - Intraday high, which manifests the high left side w formation
103.820 points - (March 2017) - mid-term high
103.536 points - (2024/10/16) - last price action
102.992 points - (2020/03/20) - Intraday high while 2 Weeks Corona Virus Outbreak
102.160 points - (2024/08/05) - Intraday low, which manifests the high left side w formation

These are the basic important technical price levels in DXY . At the beginning of August 2024, the DXY traded below 103.820 for the first time. And that quite clearly strong bearish - intraday high with 104.426 points on Friday, August 2nd, 2024 & intraday low with 102.160 points on the following Monday, August 5th, 2024. That´s why low prices of 100.514 points (August 2024) and/or also 100.157 points (September 2024) follows. End of September 2024, everything was programmed for the fall of 100 points in the DXY - the expectation and mood was like that. Last month I personally assumed that the US presidential election campaign would dominate the headlines - and that the US dollar would therefore come under pressure. When it comes to fiscal policy, both candidates seem to be more than outdoing each other when it comes to spending. But things turned out differently! Why? The soft landing scenario!? I can't explain it any other way?! Which is why I would like to use the last two major US economic data figures as the basis for this (hopefully) educational analysis post.

103.536 points - (2024/10/16) - last price action
103.104 points - (2024/10/10) - Intraday 1h high while last Inflation Data release
102.720 points - (2024/10/10) - Intraday 1h low while last Inflation Data release
102.624 points - (2024/10/04) - Intraday 1h high while last Labor Market Report release
101.855 points - (2024/10/04) - Intraday 1h low while last Labor Market Report release

Both good numbers that seem to confirm the current expectations of a soft landing scenario. Price action at least seems to reflect that. Because the DXY is continuously rising. What the last Pivot HL of the last 24 hours, in the last few weeks seem to confirm.

103.536 points - (2024/10/16) - last price action
103.358 points - (2024/10/14) - 24h HL Pivot of this week (high)
103.178 points - (2024/10/10) - 24h HL Pivot of last week (high)
103.031 points - (2024/10/15) - 24h HL Pivot of this week (low)
102.687 points - (2024/10/04) - 24h HL Pivot of last week before (high)
102.292 points - (2024/10/08) - 24h HL Pivot of last week (low)

Nevertheless, I am currently still basically neutral in DXY Because in my opinion the breakout from the W formation in the daily chart is crucial! Either bullish upwards, with price action above 104.426 points? Or bearish with price action below 102.160 points?

With the best intentions and wishes :
Aaron



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