Another 48h - DXY Start Week With GAP! What's Going On?

2024/11/04
Another 48h - DXY Start Week With GAP! What's Going On?
“the crucial week of the year 2024 has just started within a bearish gap!
are bulls getting cold feet yet? Or is it just a flash fire from the bears?”



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 this year 2024 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.

The price action on Wall Street starts inconsistently at the start of the week. It's the showdown of the year - on Tuesday: US presidential election, on Thursday: Fed interest rate decision, and on Friday: US consumer sentiment. It's the week of 2024! In addition to the US elections on Tuesday, the focus is on the FED meeting. Which almost hardly gets any attention in the published opinion, but is also crucial for our DXY . Key interest rates are expected to be cut by 25 basis points on Thursday. As far as the outcome of the election is concerned, there is still uncertainty. On the betting market PredictIt.org, Harris has now been slightly ahead of Trump since the weekend.

“When I had more money than I needed for myself and my family, I set up a foundation to promote the values and principles of a free and open society.”
George Soros

The reporting season is almost two-thirds through, although I don't want to ignore a few highlights for this week - in addition to ARM & ABNB & SQ & FTNT & NYSE:PLTR and/or even QCOM are reporting their numbers thsi week before next weekend. BRK.A misses its earnings targets, weighed down by high catastrophe losses in the insurance segment. Warren Buffett's investment company has not bought back a single share of Berkshire Hathaway for the first time since the second quarter of 2018. Cash was also expanded by approximately $50 billion to $325 billion compared to last quarter, it was reported. During the quarter, AAPL stake was reduced by 25 percent, or 100 million shares, to 300 million shares. It is also now clear that INTC will be replaced by NVDA in the DJIA . And or also that DOW will be replaced by SHW . We maintain our long 4XSetUp in the YM1! with a stop price at 40000 points.


104.799 : 2024/07/30 - July High Before Sell-Off
104.447 : 2024/08/01 - High Of W-Formation
102.624 : 2024/11/01 - High During Unemployment Data Release
103.799 - 2024/11/04 - last price action
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 my 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 short 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!

104.317 - 2024/11/04 - Top Line Bearish GAP At This Weekstart
103.970 - 2024/11/04 - Dow Line Bearish GAP At This Weekstart
103.799 - 2024/11/04 - last price action
This week started with a bang for the DXY . A bearish GAP! Although not earth-shattering - but very informative for hard-working and docile students like us. Because it shows the nervousness that prevails on the foreign exchange market - since hardly every week starts with a GAP. On the contrary - we entered the weekend at the same closing price from last weekend! So I don't want to describe it like Cassandra; "but that sounds like a bit of a calm before the storm as far as price action is concerned! Or?" Of course, it is also philosophically and psychologically understandable, because all (not) involved traders and/or investors in the foreign exchange market want certainty - both bulls and/or bears want to know what will happen next. Whether they want buy or sell because of Trump or Harris. Or wait and see. However, the current level of price action is therefore also interesting. Because the price action currently seems to be turning, from the low of 103.577 before the start of trading on WallStreet. And that's just below the Friday low before the last US jobs report was published. And/Or just below the four-week trend line. It therefore remains to be seen whether the trend from October 2024 will continue. And/Or was the bears' attempt to recapture the ground to the historic medium-term trend line of 103.820 points just a one-week flash in the pan, the last calendar week that just ended?


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...