September 2nd 2020: Upbeat ISM Manufacturing Survey Supports Modest DXY Recovery
- Daily Report, Recent Posts, Technical Analysis
- September 1, 2020
Against the US dollar, the price of Bitcoin staged another advance last week, adding +3.4% at the time of writing. Technical Headwinds on the Weekly Chart Technical headwinds remain on the weekly timeframe. This includes the channel resistance that recently made its way into the fight, extended from the high of $31,050, an ascending channel
READ MORESpot gold in $ terms (XAU/USD) recorded another smashing week, adding +3.5% and lifting the precious metal to the all-time high of $2,075 set in August 2020. As per the weekly timeframe, momentum remains to the upside, according to the Relative Strength Index (RSI), with room to push for overbought conditions. Break the All-Time High?
READ MORES&P 500 Chalks up Largest One-Month Gain since Mid-2022 November finished higher by nearly 9.0%; it was a cracking month for the S&P 500, chalking up its largest one-month gain since July 2022 and closing on the doorstep of the 4,607 top printed in July. You will note that from the monthly timeframe, we can
READ MOREEurope’s shared currency benefitted from the dollar downside in November, adding +2.9% and settling a whisker off best levels. Monthly Timeframe: Clear Downtrend Although the recent bid deserves notice—particularly as it followed a test of support on the monthly timeframe at $1.0516—the long-term trend leans in the seller’s favour, with a downtrend in play since
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