Tuesday, February 27, 2018
The Dollar rallies on the back of the FED
Today’s
comments by the new FED chairman, Jerome Powell, has caused the Dollar to rally
amid the possibility of higher interest rates. On the daily chart of the Dollar
index we can see that the instrument has rallied really fast, but at the
moment, the 90.46 level is acting as resistance as it did at the beginning of
February. The 55 day EMA (purple line) may also contribute for that zona to
become a resistance. Above the 55 day EMA, the 91, 92, or 93 levels may act as
resistance to the 200 day EMA (blue line). To the downside, the 89.53 level may
act as support, because the 200 month EMA is right at that level. The lows at the
88.14 level may also act as support.
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Interesting analysis.
ReplyDeleteSeems like it made a double bottom.
ReplyDeleteThe move to the upside continues.
ReplyDeleteUseful information.
ReplyDeleteThat's good to know, thanks.
ReplyDeleteExcellent assessment.
ReplyDeleteThanks for such an informative analysis.
ReplyDelete