Fed Holds Target Rate Unchanged; Revises Growth and Inflation Forecasts
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- March 19, 2025
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 MOREUS 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 MOREUS 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 MOREUS 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 MOREUS Dollar Index: The recovery from daily support at 95.84 and daily AB=CD pattern completion at 96.16 (the latter is regarded as a basic bullish configuration among harmonic traders) has placed price action within close proximity to daily supply at 98.18/98.65. Traders will also note the recovery is establishing what appears to be a bear
READ MOREUS Dollar Index: The recent recovery from daily support at 95.84, accompanied by a daily AB=CD pattern at 96.16, with the latter regarded as a basic bullish configuration among harmonic traders, witnessed last week’s action put forward a prominent weekly lower shadow, suggesting additional recovery gains could be in store. Seen overhead, however, daily supply
READ MOREUS Dollar Index: The rebound from daily support at 95.84 and recent completion of a daily AB=CD pattern at 96.16, regarded as a basic bullish configuration among harmonic traders, witnessed additional recovery gains last week. Finishing the week +0.6%, the US dollar index, or DXY, could experience a further surge in demand this week until
READ MOREXJO WEEKLY: Last week’s low saw the retest of the 6890 completed, with a high close in the range.
READ MOREUS Dollar Index: Renewed upside momentum, fed by daily support at 95.84, watched the US dollar index (DXY) snap a three-week losing streak to close at +0.14%. Support also benefitted from the completion of a daily AB=CD pattern at 96.16, regarded as a bullish configuration among harmonic traders. The rebound from support, according to the
READ MOREUS Dollar Index: The US Dollar Index (DXY), a measure of the buck’s value against a basket of six major currencies, nosedived 1.4% last week, recording its third successive weekly decline. Recent trade, by way of eight consecutive daily bearish candles, sliced through the lower limit of a bearish pennant configuration (98.27), subsequently taking on
READ MOREXJO WEEKLY: Last week’s low saw the retest of the 6890 completed, with a high close in the range.
READ MOREUS Dollar Index: Following a timid start off best levels a few points ahead of 100.00, buyers fazed into the background last week. Erasing 1.5%, the US dollar index, or DXY, extended losses for a second successive week and penetrated heavy-duty support on the daily timeframe. Thursday cut through the lower limit of a bearish
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