Fed Holds Target Rate Unchanged; Revises Growth and Inflation Forecasts
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- March 19, 2025
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 MOREUS 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 MOREUS 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 MOREUS 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 MOREUS 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 MOREUS 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 MOREUS 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 MOREUS 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 MOREUS 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 MOREUS 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 MOREUS 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 MOREUS 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
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