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Weekly Technical Market Insight: 25th – 29th May 2020
- May 24, 2020
US Dollar Index: Down 0.5%, the US dollar index, or DXY, witnessed buyers take a back seat last week, snapping a two-week winning streak. On the technical front, supply at 101.79/101.00 is located in an ideal site to facilitate a fakeout setting above tops at around 100.88 this week. It was stressed in the previous
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May 20th 2020: Cable Exhibiting Weak Technical Tone Ahead of Inflation Data
- May 19, 2020
EUR/USD: Monthly timeframe: (Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves) March, evident from the monthly chart, left behind a long-legged doji indecision candle, with its extremes crossing paths with heavyweight supply at 1.1857/1.1352 (intersects with a long-term trendline resistance [1.6038]) and demand at 1.0488/1.0912. April, as
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May 19th 2020: Upbeat Risk Sentiment Sends DXY Sailing Back Through 100.00
- May 18, 2020
EUR/USD: Monthly timeframe: (Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves) March, evident from the monthly chart, left behind a long-legged doji indecision candle, with its extremes crossing paths with heavyweight supply at 1.1857/1.1352 (intersects with a long-term trendline resistance [1.6038]) and demand at 1.0488/1.0912. April, as
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Weekly Technical Market Insight: 18th – 22nd May 2020
- May 17, 2020
US Dollar Index: Over the course of last week, the US dollar index, or DXY, gained speed, recording its second successive weekly gain and adding 1.27%. Double-top resistance (blue arc) at 100.88, particularly after having its neckline broken at 98.82 (April 15 low), has likely lured sellers into play. Unfortunately, with price action concluding the
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Weekly Technical Market Insight: 11th – 15th May 2020
- May 10, 2020
US Dollar Index: The US dollar index, measured by factoring in the exchange rates of six major world economies, staged a vigorous recovery in the early stages of the week. Things turned sour mid-session, however, encountering strong headwinds off 100.40, with Friday’s candle reclaiming much of the earlier growth and closing at its lows. Technicians
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Weekly Technical Market Insight: 4th – 8th May 2020
- May 3, 2020
US Dollar Index: The US dollar index, or DXY, found thin air above 100.00 last week, finishing the session sub 99.00, lower by 1.60%. Technical pattern traders will note the sprightly pullback pencilled in the final leg of a double-top scenario off 100.88, with Friday tunnelling through the neckline of the formation (98.82). Within the
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Weekly Technical Market Insight: 27th April – 1st May 2020
- April 26, 2020
US Dollar Index: Having recently pencilled in a v-shaped bottom a few points off demand at 98.18/98.65, the US dollar index (DXY) finished the week in positive territory (+0.58%), though off best levels Friday. Although reasonably snug above the 100.00 handle, the DXY is closing in on eye-catching supply from 101.79/101.00. On top of this,
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Weekly Technical Market Insight: 20th – 24th April 2020
- April 19, 2020
US Dollar Index: Mid-week movement witnessed the US dollar index, commonly referred to as the ‘DXY’, carve out a bottom a few points ahead of demand at 98.18/98.65 and finish the week 0.24% in the green. Technicians will also note the 200-day simple moving average (SMA) at 98.21 interacting with the underside of the aforementioned
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Weekly Technical Market Insight: 13th – 17th April 2020
- April 12, 2020
US Dollar Index: Despite a recent v-shaped recovery out of demand at 98.18/98.65, the US dollar index, a leading benchmark measuring the value of the greenback relative to a basket of 6 major world currencies, folded over last week. Topping a few points south of supply at 101.79/101.00, price finished 1.19% in the red. Technically
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Weekly Technical Market Insight: 6th – 10th April 2020
- April 5, 2020
US Dollar Index: The US dollar index, a leading benchmark measuring the value of the greenback relative to a basket of 6 major world currencies, chalked up a spirited recovery last week, adding 2.42% and reclaiming a large portion of recent losses. Aside from Tuesday forming a ‘shooting star’ Japanese candlestick pattern within the parapets
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Weekly Technical Market Insight: 30th March – 3rd April 2020
- March 29, 2020
US Dollar Index: Down 3.57%, the US dollar index, or ‘DXY’, witnessed an unwinding of long positions last week south of multi-year highs a touch off the 103.00 handle. Bolstered by clear-cut RSI bearish divergence, supply-turned demand at 101.79/101.00 broke down, as did supply-turned demand at 100.03/99.37, exposing the 200-day SMA, currently circulating nearby the
READ MOREWeekly Technical Market Insight: 23rd – 27th March 2020
- March 22, 2020
US Dollar Index (DXY) The US dollar index, measures the value of the greenback against a basket of six major world currencies, experienced rampant demand over the past week, adding 3.3%, a week after the V-shaped recovery from levels not seen since September 2018. The buck’s credentials as a universal currency appear intact. Regardless of whether US
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