Another 48h - Easy Come Easy Go In The DXY Price Action Last 48h

2024/11/07
Another 48h - Easy Come Easy Go In The DXY Price Action Last 48h
“yesterday a little more than a proud bullish price action of +1.6%!
today, lost down to -0.7% to the bears again? tomorrow more?”



Did we see some kind of anti-Trump price action today?
Because what rose sharply yesterday fell today ( US10Y & DXY & DJT for example) - and what fell yesterday rose today ( GC1! & DAX & HSI ). But how does Fed Chairman Powell react today to the prospect of Donald Trump's new presidency? It was considered certain that the Fed cut interest rates today - but what is less certain is whether there will be another rate cut in December. Because Trump not only threatens foreign companies with tariffs - but also American companies that produce in Mexico or other countries (which weakens their profitability). But WallStreet has only seen the positive so far - is probably, like every observer, primarily relieved and is carrying on as before. But what happened yesterday on the US stock markets has only happened three times so far, and has only ever happened at tops or bottoms in the last few decades. Which is why we should wait and see - at least this week.

104.799 : 2024/07/30 - July High Before Sell-Off
104.447 : 2024/08/01 - High Of W-Formation
104.343 - 2024/11/04 - last price action
102.624 : 2024/11/01 - High During Unemployment Data Release
103.820 : 2017/11/01 - Historical 2nd Mid-Term High
102.624 : 2024/10/04 - Low During Unemployment Data Release
103.104 : 2024/10/10 - High During Inflation Data Release
102.720 : 2024/10/10 - Low During Inflation Data Release
102.624 : 2024/10/04 - High During Unemployment Data Release
102.160 : 2024/08/05 - Low W-Formation
101.855 : 2024/10/04 - Low During Unemployment Data Release
I stick to our basic stance that an upward breakout from our W trend reversal formation is bullish. And/or also a breakout downwards is bearish. And I, if at all, will formulate only a long 4XSetUp or even a short 4XSetUp based on this! If any? Because with the “Another 48h - DXY …” series I want, first and foremost, to learn with you. Make an educational contribution every day that describes the decision-making process for a (not) imminent long and/or 4XSetUp. So let us wait until the DXY breaks out up or down from our w trend reversal formation - and then confirms it! How? By confirming the breakout at 104.447 points with a price action above 104.799 points in order to become bullish again for the following days and weeks! And/Or also with a downward breakout, from the w trend reversal formation, at 102.160 points, with a price action of below 101.855 points in order to become bearish for the following days and weeks!

“Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.”
George Soros

July, August and/or September were bearish red months for the DXY . In contrast to October, which was a juicy bullish green month. What we can also prove with the help of the fundamental Marko analysis, using US economic figures - such as the publication of the last two US unemployment rates. And or also based on the publication of the last US inflation rate. Because during all three publications, and especially afterwards, the price action of the DXY was not only traded and invested above the downward trend (from July, August, and or even September). no - since then the price action of the DXY has no longer been traded or invested within, let alone below, the price action of the published hour. So we can certainly speak of a bullish upward trend in the DXY since October, since the low for the year on September 27th at 100.157 points. So we can argue verified bullish, by using both technical analysis and fundamental analysis! How far can this take us optimistic bulls? How high can the DXY rise? I don't know that! But that is the learning material for this calendar week. For a calendar week that, for better or for worse, more or less, is likely to be the most exciting calendar week of the entire year 2024.

“Recent indicators suggest that economic activity has continued to expand at a solid pace. Since earlier in the year, labor market conditions have generally eased, and the unemployment rate has moved up but remains low. Inflation has made progress toward the Committee's 2 percent objective but remains somewhat elevated.”, with these words today`s FOMC statement started. The Fed said in the subsequent press conference that US inflation data and US labor market data would be published twice beforehand. So we can assume that the FED will depend on this - in terms of a further interest rate hike. Naturally, of course! What else?

105.441 points was the daily high yesterday, Wednesday.
However, today the DXY fell sharply again - by up to -0.8%! For 35h to 36h the price action was above the July`24 high, the last high before the W trend reversal formation. And that's are 104.799 points and/or 104.447 points. We are currently at 104.343 points - which is among the two important price actions; and can also be described as bearish. But nonetheless, the DXY is currently being traded and invested at more or less the same price as at the start of the week. And that's 104,349 points. From this pov (point of view) is important for bulls to defend tomorrow, on friday, last trading day this week, US president election week, following price actions - so that the bears don't take over a red bearish week. And bulls have a good outlook - even round about more or less above the w trend reversal formation of 104.447 points.

104.799 - 2024/07/30 - July High Before Sell-Off
104.447 - 2024/08/01 - High Of W-Formation
104.343 - 2024/11/04 - last price action
104.317 - 2024/11/04 - Top Line Bearish GAP At This Weekstart
103.970 - 2024/11/04 - Dow Line Bearish GAP At This Weekstart
104.232 - 2024/11/07 - SMA 120 hl/2 (1 Week Trendline)
103.909 - 2024/11/07 - SMA 120 hl/2 (4 Weeks Trendline)


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 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...