• 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
  • Weekly Technical Market Insight: 3rd – 7th August 2020

    Weekly Technical Market Insight: 3rd – 7th August 2020

    • August 2, 2020

    US Dollar Index: The US dollar index, measured by factoring in the exchange rates of six major world currencies, relinquished additional ground last week, dropping nearly 1 percent and processing a sixth successive weekly decline.  Early week, as you can see, had technical movement dethrone a daily bearish pennant (98.27/100.93) take-profit target at 93.97 (yellow).

    READ MORE
  • Weekly Technical Market Insight: 27th – 31st July 2020

    Weekly Technical Market Insight: 27th – 31st July 2020

    • July 26, 2020

    US Dollar Index: Cementing a strong bearing underneath support at 95.84 in early trade, the US dollar index, a measure of the USD’s value against a weighted basket of foreign currencies, logged a fifth successive bearish close last week and erased 1.7%. With 95.84 potentially now a distant memory, 93.97 takes centre stage this week,

    READ MORE
  • Weekly Technical Market Insight: 20th – 24th July 2020

    Weekly Technical Market Insight: 20th – 24th July 2020

    • July 19, 2020

    US Dollar Index: The June 10 recovery off daily support at 95.84, as you can see, launched a bear flag between 95.72/97.45. Recent weeks, though, observed price slip through the aforesaid flag’s lower boundary, introducing a sell signal and projecting moves as far south as 92.72 (take-profit target measured by calculating the preceding move and

    READ MORE
  • Weekly Technical Market Insight: 13th – 17th July 2020

    Weekly Technical Market Insight: 13th – 17th July 2020

    • July 12, 2020

    US Dollar Index: The June 10 recovery off daily support at 95.84, as you can see, established a reasonably compact bear flag between 95.72/97.45. Last week kicked off slipping below the aforesaid flag’s lower boundary, introducing a sell signal and projecting moves as far south as 92.72 (take-profit target measured by calculating the preceding move

    READ MORE