Weekly Technical Market Insight: 7th – 11th February 2022
- Daily Report, Market Insights, Recent Posts, Technical Analysis
- February 5, 2022
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
READ MOREUS 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
READ MOREUS 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
READ MOREUS 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 MOREUS 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
READ MOREUS Dollar Index (DXY) The US dollar index, calculated by factoring in the exchange rates of six major world currencies, is seen closing in on its 99.00 handle after toppling the 200-day SMA around 97.80. The breakdown in oil prices, down nearly 20%, coronavirus evolving into a global epidemic, according to the World Health Organisation
READ MOREUS Dollar Index: Over the course of last week, traders sold the dollar index en masse. as the US Federal Reserve cut its benchmark interest rate by 50 basis points, fearing the US economy may fall into a recession due to the coronavirus. Benchmark 10-year US Treasury yields hit all-time lows at 0.65%, while upbeat
READ MOREUS Dollar Index: Battered and bruised, the US dollar index (DXY) wrapped up the week extending losses south of multi-year highs at 99.91, capped within long-term daily supply at 100.03/99.37. Overthrowing 99.00 and local daily trendline support (96.36) in the later stages of the week, the 200-day SMA, currently circulating around 97.83, is in the firing range
READ MOREDespite Foreign exchange (forex) standing as the largest financial market in the world, boasting 24-hour access five days a week, one might expect the holiday season to be the busiest time of the year. This just isn’t the case – liquidity actually diminishes across global markets. The primary driver behind price movement in the forex
READ MOREUS Dollar Index: The US dollar index (’DXY’), which measures the value of the US dollar relative to a basket of foreign currencies, firmed for a third successive week, gaining 0.18%. After eclipsing the 99.67 October 1 st high, the index clocked highs at 99.91, just south of the 100.00 handle which is enclosed within
READ MOREEUR/USD: Monthly timeframe: Outlook brought forward from previous analysis – Despite a healthy attempt at recovery from demand at 1.0488/1.0912 in October 2019 – a particularly noteworthy area given the momentum derived from its base – EUR/USD failed to sustain gains, and had the unit retesting its upper boundary last week. Price, however, as you
READ MOREXJO WEEKLY: Last week’s low saw the retest of the 6890 completed, with a high close in the range.
READ MOREStart Trading with a Global Broker
By supplying your email you agree to FP Markets privacy policy and receive future marketing materials from FP Markets. You can unsubscribe at any time.