The Dollar
index has been weakening since a couple of weeks ago, but it has found some
good support on the 94.00 zone and bounces to the upside as shown on the daily
chart. Janet Yellen’s speech at Jackson Hole and some comments by key FED
members have supported the Dollar and that is why we see that the index has
gained some bullish momentum and it accelerates towards the 200 day exponential
moving average, around the 95.74 level, but it is possible for that zona to become
resistance from where the Dollar may bounce again to the downside. Above the
200 day EMA, its next resistance could be the 96.59 level followed by the high
at the 97.62 zone. To the downside, the 95.00 level may act as its first
support, followed by the low at the 94.00 level.
Subscribe to:
Post Comments (Atom)
WTI oil at the 200 day EMA
WTI oil breaks below the 66.27 support zone and accelerates its bearish momentum towards the 200 day EMA around the 64.30 level. We have b...
-
Great events, great Webinars during this month of November by ActivTrades. Paul Wallace will be conducting an interesting event on Thursday...
-
The Dow Jones industrial index reaches for the first time in its lifetime the 20000 points, prolonging what it has come to be known as “the ...
-
The EUR/USD has made a very good bearish retracement from the 200 day EMA around the 1.0770 level, which has taken it below the 1.0700 leve...

Thank you for the analysis.
ReplyDeleteThanks for such an informative post.
ReplyDeleteVery helpful assessment.
ReplyDeleteGood analysis!
ReplyDeleteGreat take on markets!
ReplyDelete