Category: Technical Analysis

US Dollar Index: The US dollar, measured by the US dollar index (DXY), remained depressed last week, down 1.2 percent at the close of trade. Squeezing out a third successive weekly loss, technical elements reveal price action toppled daily support at 90.99 and renewed year-to-date troughs, levels not seen since 2018. Closing Friday by way...

US and Australian markets remain buoyant as the news of a vaccine removes any immediate downside risk, with markets continuing to price in an improving economy fuelled by central bank liquidity. Volatility indexes have moved lower to a bullish outlook for equities. There is little risk being perceived by market traders as Index’s continue higher....

US Dollar Index: Shedding more than 0.6 percent, the US dollar, as measured by the US dollar index (DXY), unsurprisingly carved out a second successive losing week and renewed monthly lows. Feeble attempts at recovery off daily support from 92.26 throughout November demonstrated a lack of co-operation from buyers, ultimately allowing sellers to dethrone support...

US Dollar Index: With US elections sparking a risk-on rally (major US equity benchmarks finished strongly higher across the board), safe-haven demand for the US dollar, as measured by the US dollar index (DXY), declined considerably last week. Down 1.8 percent, the DXY drowned previous gains and crossed paths with daily support at 92.26. Although...

US Dollar Index: With US elections sparking a risk-on rally (major US equity benchmarks finished strongly higher across the board), safe-haven demand for the US dollar, as measured by the US dollar index (DXY), declined considerably last week. Down 1.8 percent, the DXY drowned previous gains and crossed paths with daily support at 92.26. Although...

This week will be dominated by the US election result, market commentary is split on the outcome for the equity and commodity markets from each candidate and volatility will rule in the coming days with potential price swings in each direction. Traders should remember markets are based on future economic outcomes, currently the overall bias is for...

US Dollar Index: The US dollar (DXY) outperformed last week, seizing dominant trendline resistance (102.99) and adding more than 1.2 percent. Going forward, resistance at 94.65 and 50% retracement level at 94.77 is on the frontline, which, as you can see, is in the company of an RSI trendline resistance (prior support). Fracturing the aforesaid...

With US elections and US stimulus news is continuing to drive market sentiment on a daily basis, daily volatility will remain for the coming weeks. European lockdowns are growing and continuing to bring uncertainty to the local bourses, while the US records its largest infection rate last week. Markets continue to range trade between support...

US Dollar Index: Harvesting fresh motivation from daily trendline resistance (102.99), the US dollar index, or DXY, sunk 1 percent last week and subsequently tested the resilience of daily demand at 92.71/93.14 (a drop-base-rally formation). With the lower portion of the aforesaid demand challenged, potentially with enough juice to test stops, and Friday’s candle finishing around session...

US Dollar Index: The US dollar flexed its financial muscle last week, consequently snapping a two-week losing streak. Adding 0.7 percent, buyers navigated from daily demand at 92.71/93.14 (a drop-base-rally formation) at the beginning of the week and eventually revisited a daily trendline formation (102.99), a level linked with a small area of daily supply...