dollar index

Technical Analysis – Dollar Index futures hold at 4-month high; lack direction in long-term

Posted on February 10, 2020 at 8:54 am GMT

The US dollar index reached a fresh four-month high of 98.56 as the price extended its bull run well above the Ichimoku cloud and the moving averages lines. Prices broke above the 98.47 barrier and the technical indicators are suggesting a weaker bullish move. The MACD is holding above the trigger and zero lines, while the RSI flattens near the 70 level. It is worth mentioning that the 20-day simple moving average (SMA) crossed above all the short- and long-term [..]

Technical Analysis – Dollar Index futures pull back in downward sloping channel

Posted on January 31, 2020 at 10:22 am GMT

The US dollar index bounced off the upper boundary of the downward sloping channel at the 98.00 psychological level and fell towards the 100-simple moving average (SMA). The price is exposing to downside risks and the first clue is the lower highs and the lower lows registered below the 28-month peak of 99.30. In terms of momentum, the short-term bias is currently viewed as neutral-to-negative as the MACD is flattening above its zero line and the stochastic is moving lower [..]

Daily Market Comment – Year end flows hit dollar, but gold can’t capitalize

Posted on December 30, 2019 at 9:49 am GMT

Greenback takes a hit in thin markets – a prelude to 2020? Gold unable to take advantage of weaker dollar and lower US yields Calendar empty, scarce liquidity still a theme No news is bad news for the US dollar News flow in financial markets remains non-existent as things wind down heading into the New Year, but that hasn’t stopped investors from cutting their exposure to the US dollar, which continues to bleed amid year-end flows. Many argue that [..]

Technical Analysis – US Dollar Index approaches 2-year high again; positive profile in long term

Posted on May 30, 2019 at 9:24 am GMT

The US dollar index is edging higher towards the two-year high of 98.25 over the last three consecutive days, remaining well above the long-term ascending trend line and the moving averages. The short-term bias is tilted to the upside as the RSI indicator is turning marginally higher in the positive region, while the trigger line of the MACD oscillator is rising in the positive region. If the index moves higher, the two-year high of 98.25 could attract traders’ attention once again and any violation above this [..]

Technical Analysis – US Dollar Index tries to hit 23-month peak; remains bullish in medium term

Posted on May 22, 2019 at 12:57 pm GMT

The US dollar index is still rising above the 50-day moving average, edging towards the 23-month high of 98.05 achieved on April 25. However, the short-term bias is tilted to the downside as the RSI indicator is turning marginally lower in the positive region, while the stochastic oscillator posted a bearish crossover within the %K and %D lines in the overbought territory, indicating an overreached rally. If the price posts a bearish retracement as the momentum oscillators signal, support is coming at the 96.85 level, which stands near [..]

US retail sales eyed as markets price in a 2019 Fed cut – Forex News Preview

Posted on May 14, 2019 at 12:40 pm GMT

The main event for the dollar this week will be the US retail sales for April, due on Wednesday at 12:30 GMT. Amidst an escalating trade conflict, markets have fully priced in a Fed rate cut by December, yet the dollar has barely retreated. This highlights that the greenback is still the ‘only game in town’, with a rebound in European growth needed to change that. Market bets for a Fed rate cut in 2019 were pared back after [..]

Technical Analysis – US Dollar Index retreats below 23-month high

Posted on May 8, 2019 at 12:32 pm GMT

The US dollar index has reversed back down after finding resistance at the 23-month high of 98.05 achieved on April 25. However, the price has remained above the 50-day simple moving average (SMA) over the last five weeks as well as above the uptrend line, which has been standing since September 2018, suggesting upside tendency in the medium term. The short-term bias is tilted to the downside as the RSI indicator is turning marginally lower near its 50 level, while the stochastic oscillator posted bearish [..]

Technical Analysis – Dollar index pares losses but trend signals are still negative

Posted on March 21, 2019 at 10:58 am GMT

The US dollar index is paring some losses from yesterday above the 23.6% Fibonacci retracement level of the upleg from 88.10 to 97.65 and closer to the 200-day simple moving average (SMA). On Wednesday, the price dropped below the rising trend line, which had been holding since March 2018, giving negative trend signals for the near future. However, the short-term bias is tilted to the upside as the RSI indicator is turning marginally higher below its 50 level, while the stochastic oscillator is sloping up after posting a bullish crossover within the [..]

Technical Analysis – Dollar index reverses up in sideways channel; neutral in medium term

Posted on February 21, 2019 at 10:14 am GMT

The dollar index found strong resistance around the 97.20 obstacle, driving the price lower. Currently, the price has been developing in a sideways channel over the past five months with upper boundary the 97.50 resistance and lower boundary the 94.60 support. Chances for a reversal in the short-term are increasing as the price failed to drop beneath the 50-day simple moving average (SMA). The short-term bias looks positive as the RSI indicator keeps gaining ground above its 50 level, while the stochastic oscillator is [..]

Fed’s ‘patience’ on rates lifts gold; can it run even higher? – Commodity News

Posted on January 31, 2019 at 2:39 pm GMT

Gold prices have staged a remarkable rally in recent months, supported by a weakening dollar, growth risks and volatility in the broader market, as well as central banks expanding their reserves. There’s little on the horizon to suggest a change in this upward pattern, though for the bulls to manage to clear the $1355-1365 zone, some new trigger may be needed. After a relatively rocky year in 2018, which saw gold prices close marginally lower (-1.5%), the yellow metal has [..]

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