FP Markets Market Review 24/06/2022
- Featured Posts, Market Insights, Technical Analysis
- June 24, 2022
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
READ MOREUS 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
READ MOREUS 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,
READ MOREUS 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
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