• Weekly Technical Market Insight: 7th – 11th February 2022

    Weekly Technical Market Insight: 7th – 11th February 2022

    • February 5, 2022

    Charts: Trading View (Italics: Previous Analysis Due to Limited Price Change) US Dollar Index (Daily Timeframe): Against a basket of six foreign currencies, the US dollar plunged 1.8 percent last week and engulfed the prior week’s gains. Following a peak just shy of Quasimodo resistance from 97.45, price slipped under trendline support at the tail

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  • Weekly Technical Market Insight: Week Ending 4th February 2022

    Weekly Technical Market Insight: Week Ending 4th February 2022

    • January 29, 2022

    Charts: Trading View (Italics: Previous Analysis Due to Limited Price Change) US Dollar Index (Daily Timeframe): According to the US dollar index—a geometric weighted average of the buck’s value against six international currencies—the US dollar flexed its financial muscle last week and climbed 1.7 percent. Clocking a high of 97.44, its highest peak since July

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  • Weekly Technical Market Insight: 24th – 28th January 2022

    Weekly Technical Market Insight: 24th – 28th January 2022

    • January 22, 2022

    Charts: Trading View (Italics: Previous Analysis Due to Limited Price Change) US Dollar Index (Daily Timeframe): Against a basket of six international currencies, the US dollar index settled the week in positive territory, up 0.5 percent. Following a bullish outside reversal from support at 94.65 (complemented by a 61.8% Fibonacci retracement at 94.68) earlier in

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  • Weekly Technical Market Insight: 9th -13th November 2020

    Weekly Technical Market Insight: 9th -13th November 2020

    • November 8, 2020

    US Dollar Index: With US elections sparking a risk-on rally (major US equity benchmarks finished strongly higher across the board), safe-haven demand for the US dollar, as measured by the US dollar index (DXY), declined considerably last week. Down 1.8 percent, the DXY drowned previous gains and crossed paths with daily support at 92.26. Although

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  • Weekly Technical Market Insight: 2nd – 6th November 2020

    Weekly Technical Market Insight: 2nd – 6th November 2020

    • October 31, 2020

    US Dollar Index: The US dollar (DXY) outperformed last week, seizing dominant trendline resistance (102.99) and adding more than 1.2 percent. Going forward, resistance at 94.65 and 50% retracement level at 94.77 is on the frontline, which, as you can see, is in the company of an RSI trendline resistance (prior support). Fracturing the aforesaid

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  • Weekly Technical Market Insight: 26th – 30th October 2020

    Weekly Technical Market Insight: 26th – 30th October 2020

    • October 25, 2020

    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

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  • Weekly Technical Market Insight: 19th – 23rd October 2020

    Weekly Technical Market Insight: 19th – 23rd October 2020

    • October 18, 2020

    US 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

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  • Weekly Technical Market Insight: 12th – 16th October 2020

    Weekly Technical Market Insight: 12th – 16th October 2020

    • October 10, 2020

    US 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

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  • Weekly Technical Market Insight: 5th – 9th October 2020

    Weekly Technical Market Insight: 5th – 9th October 2020

    • October 4, 2020

    US 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

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  • Weekly Technical Market Insight: 28th September – 2nd October 2020

    Weekly Technical Market Insight: 28th September – 2nd October 2020

    • September 27, 2020

    US 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.

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  • Weekly Technical Market Insight: 21st – 25th September 2020

    Weekly Technical Market Insight: 21st – 25th September 2020

    • September 20, 2020

    US 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

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  • Weekly Technical Market Insight: 14th – 18th September 2020

    Weekly Technical Market Insight: 14th – 18th September 2020

    • September 13, 2020

      US 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

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