Introduction The Dollar is trying to hold off from a tremendous re-balancing as the Euro begins to gain steam against the greenback. There had to be a time when, eventually, the hyper-money printing during COVID-19 would have its effect. Are we seeing that now? The Fed recently cut rates, and they signal that further rate Read More…
Overview of the U.S. Dollar Index (DXY):The U.S. Dollar Index (DXY) is currently trading around 101.724, showing a recent bounce from a key support level. The DXY has been in a broad descending wedge pattern, which is generally considered a bullish continuation pattern. The bounce from 100.8 to 101.724 is significant, as it coincides with Read More…
The March CPI data has delivered a significant boost to the US dollar, effectively wiping out expectations of a June rate cut by the Fed. This development will prove frustrating for the central bank, though the strong economic growth provides them the luxury of patience. The high inflation figures have several key implications. Firstly, they Read More…
Weekly Chart The U.S. Dollar shows a symmetrical triangle pattern, which is typically indicative of a continuation or a reversal pattern depending on the breakout direction. Price is sitting at the top end of the triangle and is also in a multi-year support/resistance zone. Key Levels to Watch on the Weekly: Daily Chart On the Read More…
Weekly Chart Starting with the weekly chart, the Dollar has shown significant strength. Bulls have clearly taken control as indicated by the 4 weekly green closes in a row. We have successfully reached our first bullish target at 103.821, from our analysis last week. The current movement suggests that we could see further upside momentum, Read More…
Introduction The dollar is flat for the year after, at one point being down 4%, then swinging to the upside and gaining nearly 8% from the lows in July. The Fed’s stance indicates that we should see Dollar weakness, but what do the charts tell us? 1-Year Daily Chart Here is an improved version: The Read More…
