• 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

    READ MORE
  • 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

    READ MORE
  • 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

    READ MORE
  • 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

    READ MORE
  • 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.

    READ MORE
  • 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

    READ MORE
  • 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

    READ MORE
  • 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

    READ MORE
  • 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,

    READ MORE
  • 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

    READ MORE
  • Weekly Technical Market Insight: 17th – 21st August 2020

    Weekly Technical Market Insight: 17th – 21st August 2020

    • August 16, 2020

    US Dollar Index: Down 0.32%, the US dollar index (DXY) found itself on the backfoot once again last week, unearthing an eighth consecutive weekly decline. Wrapping up July, price action crossed paths with 92.71, a daily bear flag (between 95.72/97.45) take-profit target, measured by calculating the preceding move and adding the value to the breakout

    READ MORE
  • Weekly Technical Market Insight: 10th – 14th August 2020

    Weekly Technical Market Insight: 10th – 14th August 2020

    • August 9, 2020

    US Dollar Index: After scoring a 27-month low at 92.52 heading into the second half of the week, a strong-willed recovery emerged. Albeit inspiring, the US dollar index (DXY) still marginally closed in negative territory (-0.10 percent), recording a seventh successive weekly decline (falling more than 4 percent in July). From a technical point of

    READ MORE