• Weekly Technical Market Insight: 9th -13th November 2020

    Weekly Technical Market Insight: 9th -13th November 2020

    • November 8, 2020

    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

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  • Weekly Technical Market Insight: 2nd – 6th November 2020

    Weekly Technical Market Insight: 2nd – 6th November 2020

    • October 31, 2020

    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

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  • Weekly Technical Market Insight: 26th – 30th October 2020

    Weekly Technical Market Insight: 26th – 30th October 2020

    • October 25, 2020

    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

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  • Weekly Technical Market Insight: 19th – 23rd October 2020

    Weekly Technical Market Insight: 19th – 23rd October 2020

    • October 18, 2020

    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

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  • Weekly Technical Market Insight: 12th – 16th October 2020

    Weekly Technical Market Insight: 12th – 16th October 2020

    • October 10, 2020

    US Dollar Index: Down 0.8 percent last week, the US dollar (DXY) extended losses south of 94.65 daily resistance (March 9 low), a level benefitting from additional resistance by way of a daily trendline formation (102.99) and hidden RSI bearish divergence. As you can see, going into the close this landed things at daily demand

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  • Weekly Technical Market Insight: 5th – 9th October 2020

    Weekly Technical Market Insight: 5th – 9th October 2020

    • October 4, 2020

    US Dollar Index: Early week, the US dollar, as measured by the dollar index (DXY), tumbled lower from an interesting combination of daily resistance, consisting of 94.65 resistance (March 9 low), a trendline resistance (102.99), an ABCD resistance at 94.63 (together with a 2.0 BC projection at 94.58) along with hidden bearish divergence out of

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  • Weekly Technical Market Insight: 28th September – 2nd October 2020

    Weekly Technical Market Insight: 28th September – 2nd October 2020

    • September 27, 2020

    US Dollar Index: After penetrating the upper perimeter of a daily falling wedge pattern (93.91/92.55), upside performance was initially lacklustre, hampered by daily supply at 94.02/93.56 and the current downtrend, active since topping in March. A falling wedge can signify either a reversal or continuation signal – in this case the pattern implies a reversal.

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  • Weekly Technical Market Insight: 21st – 25th September 2020

    Weekly Technical Market Insight: 21st – 25th September 2020

    • September 20, 2020

    US Dollar Index (DXY) After breaching the upper rim of a daily falling wedge pattern (93.91/92.55), upside performance has been lacklustre, hampered by daily supply at 94.02/93.56 and the current downtrend, active since topping in March at 102.99. A falling wedge can signify either a reversal or continuation signal – in this case the pattern

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  • Weekly Technical Market Insight: 14th – 18th September 2020

    Weekly Technical Market Insight: 14th – 18th September 2020

    • September 13, 2020

      US Dollar Index: The beginning of the week observed price action prod through (and retest) the upper frame of a daily falling wedge pattern (93.91/92.55), fuelled amid recovery gains off daily support at 92.26, an active S/R level on the US dollar index (DXY) since late 2017. A falling wedge can represent either a

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  • Weekly Technical Market Insight: 7th – 11th September 2020

    Weekly Technical Market Insight: 7th – 11th September 2020

    • September 6, 2020

    US Dollar Index: Daily support at 92.26, an active S/R level on the US dollar index (DXY) since late 2017, commanded attention early last week, albeit suffering a whipsaw to YTD lows at 91.75. Recovery gains from the aforesaid support, as you can see, extended into the week’s close, consequently throwing light on the upper

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  • Weekly Technical Market Insight: 31st August – 4th September 2020

    Weekly Technical Market Insight: 31st August – 4th September 2020

    • August 30, 2020

    US Dollar Index: The response from daily support at 92.26 (August 19), an active S/R level since late 2017, was, as you can see, short-lived, topping ahead of daily supply at 94.02/93.56 (August 21). Down 1 percent on the week, the aforesaid support re-entered the frame Friday, approached by way of a dominant, almost full-bodied,

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  • Weekly Technical Market Insight: 24th – 28th 2020

    Weekly Technical Market Insight: 24th – 28th 2020

    • August 23, 2020

    US Dollar Index: Up 0.1%, the US dollar index put an end to an eight-week losing streak in recent trading, technically sponsored by support at 92.26, an active level since late 2017. Also providing additional impetus is a medium-term bear flag (between 95.72/97.45) take-profit target at 92.71, calculated by measuring the preceding move and adding

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