On Monday, where the U.S. dollar is being made, where is the U.S. dollar?

August. 24,2021
On Monday, where the U.S. dollar is being made, where is the U.S. dollar?

With the U.S. dollar index closing in a shooting star pattern with shadows last Friday, the whole situation becomes very interesting. From the perspective of the daily cycle, the US dollar index is actually in a slow rising cycle, and the price effectively broke through the previous high point of 93.45 and stood firmly above it. Therefore, from a technical perspective, the US dollar index opens up new upward space, and there is a demand for continued rising in the future.

However, we later discovered that the U.S. dollar index went out of the first rise and then depressed the market last Friday. The price rose first, and then began to decline, and this decline was still accelerating in the evening hours. Finally, the U.S. dollar index closed at around 93.45. , The daily chart is closed as a shadow line, and this is a typical shooting star pattern.

Friends who have studied K-line theory should all know what the shooting star represents? Yes, the shooting star is a typical top signal, implying that the market will reverse in the next step, and the future price is likely to fall.

But the problem is that the U.S. dollar index confirmed its uptrend on Thursday, and then went out of the shooting star form on Friday. This completely contradictory collision of two ideologies is really incomprehensible. As for the U.S. dollar index Will the rising market or the falling market come out this week? This answer is not so easy to get.

Ever since, in this state full of contradictions and stalemate, the dollar index has entered this week, and next, how should the dollar go? I believe this is the question in the minds of all investors. Because the U.S. dollar index is really getting more and more enchanting. In many cases, the trend is completely illogical, and it has no operational purpose. It feels more like a trend or even intrigue, so I want to judge the U.S. dollar index with common sense. Difficulty, we can only find another way to discover and tap more potential demand, maybe it is the way out.

Although from a technical point of view, the U.S. dollar index made an important breakthrough last Thursday, further opening up the upside, but with the closing of the daily line on Friday as the shooting star, the whole situation was completely disrupted and significant changes occurred; plus this morning. , The U.S. dollar index directly gives the down market without hesitation. It’s strange that you can understand the behavior...because no matter whether it is technical logic or fundamental logic, the dollar index trend does not follow the corresponding logic, but rather one. It is really difficult to judge such a situation, even more difficult to judge than Trump's trend.

Looking at the current trend, the U.S. dollar index is indeed running downwards, plus the downward sentiment passed on last week, can we directly determine that the dollar index will continue the sentiment of the previous week and gradually start the downward trend? For this question, we can only say that time can give the answer, and there is really no other way. Although this state is very embarrassing, but in the face of the current situation, we can only deal with it in this way, which is equivalent to ignoring the market last week. Continuing the market sentiment of the last week, this will give some reference to the market outlook and provide some reference to the transaction...

Trading Strategy:

EUR/USD:

In summary, today's operation in Europe and the United States should focus on doing more, try to choose valuable and reference points for layout, and give the following suggestions in combination with the board, and refer to the operation as appropriate. Wessang:

Buy in the 1.1700-1.1710 range, stop loss 20 points, target 1.1730, 1.1750, 1.1770

AUD/USD:

Today's second operation currency pair, choose Australia and the United States to trade. Continuing the low-volume thinking in operation, and then try to choose valuable points for layout, give the following suggestions, refer to the operation as appropriate, and wet warehouse:

Buy in the 0.7125-0.7135 range, stop loss 20 points, and target 0.7155, 0.7175, 0.7195.

Gold:

Gold has been oscillating for many days, which shows that the market is building a turbulent range. As time goes by, coupled with the gradual downward movement of the US dollar index, then gold will usher in a certain degree of upward movement. Pay more attention to this.

Today, I will give low-many suggestions. If the market gives a chance, do it, and wait and see if the market does not give it a chance. Wessang:

Buy in the range of 1776-1777, stop loss of 3 dollars, and target 1780, 1784, and 1789.