US dollar set to bounce? Crude oil bulls eye $80, ASX 200 bears eye 6950
The US dollar held a key support level on Thursday, which could provide the platform for a bounce today if all goes well. Crude oil continues to hint at its own potential bounce, whilst the ASX 200 appears to have formed a swing high on the daily chart.
US dollar index approaches its 200-day MA as EUR/USD eyes resistance
With the US dollar continuing to soften during Monday’s Asian trade, we now wait to see if it can help EUR/USD break above a key resistance level. But with the 200-day MA nearby for the US dollar index, it might may hit a bump in the road.
Gold glistens as the US dollar plunges (XAU/USD, DXY)
It seems the dollar correction is finally underway, with the US dollar index suffering its worst single day in one year. And it shows the potential for further losses, even if it has found support for now. Gold also shows the potential to have another crack at $2000.
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USD/JPY rises to resistance, USD ready to retrace? Asian Open
If the BOJ were going to intervene, it could be argued they'd have done it already. But that doesn't mean the market can't do some of the work for them by sending USD/JPY lower from key resistance levels. And if the US dollar pulls back as I suspect, it places USD/JPY short onto the watchlist.
USD moves cautiously higher (for now) ahead of Fed speakers
We’ve seen a slight recovery in the US dollar, but this is to be expected following such a sharp selloff heading into the weekend. But with resistance looming, USD could be setting up for a potential swing trade short over the near term.
USD, DAX cling to support ahead of PMIs: European open – 24/10/2023
The USD is on the ropes as we enter this session, but it’s likely all down to yields as to where the dollar goes next. And we have enough data in the pipeline to make it go one way or the other. The DAX is also clinging to support, but I see the potential for some mean reversion ahead of its next leg lower.
S&P 500 and Dollar Index Analysis - Technical Tuesday
Welcome to another edition of Technical Tuesday. In this week’s report, we will get technical on the S&P 500 and Dollar Index. The benchmark index has bounced back as investors' focus turns to FOMC minutes, CPI and Consumer Sentiment, with US bank earnings also to start on Friday. Meanwhile, the Dollar Index chart shows a potential reversal signal ahead of all these events.
Q4 US Dollar Outlook: US Economic Exceptionalism to End?
The US dollar has surged on US economic exceptionalism so far this year, but that trend may change in Q4...
The US Dollar Milkshake Theory: A Sweet Deal for USD Bulls?
The US Dollar Milkshake Theory, in its essence, predicts a significant strengthening of the U.S. dollar against other world currencies - see why and it's potential implications!
Gold withstands USD strength (but for how long?): Asian Open – 23/08/23
The US dollar tracked the short-end of the yield curve higher on Tuesday, although gold managed to withstand dollar strength with spot prices flirting with a break above 1900. But having looked look at gold futures, I suspect the next level of support for spot gold prices could be around $1870 if momentum reverts lower.
Dollar analysis: EUR/USD and DXY approaching key levels - Forex Friday
Welcome to another edition of Forex Friday, a weekly report in which we highlight selected currency themes. In this week’s report, we will focus on the US dollar analysis, and provide updates on the EUR/USD outlook, before looking ahead to the next week, when we have global PMI data and the start of the Jackson Hole summit.
AUD/USD holds 64c as US dollar rally pauses: Asian Open – 18th August 2023
The risk-off tone of the week continued through to European and US sessions yesterday, with Wall Street indices falling for a third consecutive day. However, perhaps there is a bit of light at the end of the tunnel in hopes of stimulus. And with the US 2-year yield struggling to break 5% and the US dollar index stalling at the June high, perhaps there's some hope for AUD/USD just yet.
AUD/USD folds as the RBA holds (but DXY hints at support)
The RBA held their interest rate at 4.1% for a second consecutive month. And the fact AUD fell over -0.6% and the ASX touched a high of the week shows that not everyone was positioned for the outcome.
USD Index, AUD/NZD Analysis: Asian Open – 19th July 2023
US yields are showing signs of stability alongside the US dollar, hinting at a potential corrective bounce. And, whilst NZ CI was hotter than liked, I doubt it will be enough for another RBNZ hike which leaves a potential setup on AUD/NZD.
Canadian Dollar Analysis: Did USD/CAD Form a Bottom at 1.31?
A near-term bottom may be in for a USD/CAD rally back toward 1.3300+, depending on Canada’s CPI reading...
US Dollar Technical Forecast: USD Bulls Exhaust into Resistance
US Dollar is poised snap a three-week winning streak as DXY responds to technical resistance- risk for exhaustion. The levels that matter on the weekly technical chart.
US Dollar Short-term Outlook: USD Rips into Make-or-Break Resistance
A three-week rally in the US Dollar takes DXY into multi-month downtrend resistance- battle-lines are drawn. Levels that matter on the short-term technical charts.
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US Dollar technical forecast: USD defends support for a fifth week
The US Dollar sell-off halted at the 2023 range lows with the index coiling just above for the past five weeks. The levels that matter on the DXY weekly technical chart.
US Dollar short-term outlook: USD battle-lines drawn ahead of Fed
USD is attempting to breakout of a multi-week downtrend with the Fed on tap tomorrow- battle-lines are drawn. Levels that matter on the DXY short-term technical charts.
US Dollar short-term outlook: USD collapses to yearly low- DXY levels
USD is attempting a fifth straight weekly decline with the index now testing the 2023 lows-battle lines drawn. Levels that matter on the DXY short-term technical charts.
US Dollar technical forecast: USD battle lines drawn at key support
US Dollar plunged more than 4.2% off the yearly high with the index now testing major uptrend support. The levels that matter on the DXY weekly technical chart.
US Dollar short-term price outlook: six-days down into support
The USD post-Fed plunge is threatening exhaustion as a six-day sell-off approaches key technical support. Levels that matter on the DXY short-term technical charts.
US Dollar technical forecast: USD major support test ahead of Fed
US Dollar plunged more than 2.7% off the yearly high with the index testing a key support pivot ahead of the Fed. Levels that matter on the DXY weekly technical chart.