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Technical Analysis – Dollar index futures may lengthen bearish trend

Posted on January 22, 2020 at 11:12 am GMT

US dollar index futures are exposed to downside risks as regards the market trend. The first clue is the lower high and the lower lows registered below the 2 ½-year peak of 99.30 and second is the death cross created between the 50- and 200-day simple moving averages (SMA) after more than a year – if sustained. In terms of momentum, the short-term bias is currently viewed as neutral-to-positive as the RSI is moving sideways above its 50 neutral mark and the MACD [..]

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Technical Analysis – Dollar Index futures search for a rebound near pivot point

Posted on October 18, 2019 at 11:13 am GMT

The US dollar index futures crashed below the short-term ascending line drawn from 95.34 and are now set to beat a longer support line stretched from March 2018. The fast-Stochastics and the RSI, however, signal that the bearish action is running out of fuel and hence a rebound off the line is likely as the indicators are hovering near oversold levels. Note that the market action has been also taking place around the lower bollinger band, increasing the odds for an upside [..]

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Technical Analysis – Dollar index futures to hold positive above ascending trendlines

Posted on October 4, 2019 at 1:21 pm GMT

The US dollar index futures are set to close negative in the week after failing to retest the 28-month high of 99.30, with the RSI and the MACD foreseeing now a positive but softer short-term trading. On the downside, the ascending trend-line drawn from the 95.34 trough, currently seen around 98.20, could be an ideal place to look for immediate support. If the price clears that barrier, the sell-off could pick up steam towards 97.52, which is the 38.2% retracement [..]

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Technical Analysis – US dollar index futures spike above 99.00, enter overbought waters

Posted on September 2, 2019 at 4:33 pm GMT

The clear upside direction in the RSI and the positive slope in the Stochastics are framing a bullish picture for the short-term, though with the indicators entering overbought waters, the positive momentum could soften soon. Friday’s closing price above the upper Bollinger band is another indication that room for improvement could be limited. In case of a downside reversal, the 98.00 barrier could act as immediate support before last week’s trough of 97.50 grabs attention. Another step lower could bring the lower Bollinger band, currently [..]

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Technical Analysis – Dollar Index futures scope for further losses but short-term downside softer

Posted on June 24, 2019 at 1:39 pm GMT

The position in the US dollar index futures is on the back foot for the fourth consecutive day and near a three-month low of 95.47 following the rejection from the 20- and the 50-day simple moving averages (SMA). The price has so far fallen below the 200-day SMA, the previous low of 96 and the 50% Fibonacci of the 93.56-98.23 upleg, putting the January upward pattern into question. In the short-term, downside pressure may persist but potentially at a softer pace given that Stochastics [..]

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European Open Preview – Dollar looks to US jobs data; stocks advance

Posted on April 5, 2019 at 9:08 am GMT

US dollar steadies ahead of NFP report Euro and pound post soft move after ECB minutes and Brexit updates Stocks continue to advance as trade deal is close Nonfarm payrolls in the limelight The greenback extended gains versus Japanese yen earlier on Friday, reaching a fresh three-week high around 111.80 before returning slighlty lower. All eyes will be on the US employment report for March at 1230 GMT. Predictions seem to be optimistic compared to the preceding month. Nonfarm payrolls (NFP) are [..]

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Technical Analysis – Dollar Index futures could get more bullish in short term

Posted on April 2, 2019 at 10:45 am GMT

Following the close under the 200-day moving average (MA), the US dollar index future price (with an expiry date in June) regained considerable ground to overcome its MAs once again and return above the Ichimoku cloud, staying mostly green over the past two weeks. Technically, more upsides could be in store as the MACD keeps strengthening in the positive zone and above its red signal line, while the RSI is maintaining a steep positive slope well above its 50-neutral mark. [..]

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European Open Preview – Dollar down, stocks up on Powell’s flexible policy; China boosts liquidity

Posted on January 7, 2019 at 9:27 am GMT

US Jobs report impress, Powell backs flexible policy China cuts reserve requirements amid slowing economic activity Loonie jumps to 3-week highs Nonfarm payrolls impress but Powell sounds cautious; China takes further monetary easing steps The US Jobs report beat expectations on Friday, brushing away fears of a cooling labour market and a slowing economy. Nonfarm payrolls jumped by 312k in December, while November’s print was revised upwards by 22k. Average hourly earnings also picked up speed to reach a new decade high of 3.2% [..]

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European Open Preview – Brexit vote delayed and pound pays the price

Posted on December 11, 2018 at 9:03 am GMT

US-China discuss trade talks schedule, but markets keep risk-off behavior May delays Brexit vote in Parliament; pound drops below 1.26 Italian budget adjustments not ready yet US-China discuss roadmap for trade talks The Chinese Vice Premier, Liu He, is said to have exchanged views with the US Trade Representative, Robert Lighthizer and the US Treasury Secretary, Steven Mnuchin, on how to move trade talks forward on Tuesday, giving some grounds for optimism that a worsening trade war is not in the interest of either nation. [..]

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Strategy update: The trade ‘truce’, the Fed’s possible pause and May’s Brexit woes

Posted on December 5, 2018 at 3:05 pm GMT

Markets unconvinced by Trump-Xi trade rapprochement The Fed could slow rate hikes Market braces for Brexit turbulence as May struggles to convince Parliament Markets unconvinced by Trump-Xi trade rapprochement A major theme for global markets and the global economy is the uncertainty caused by the frictions between the United States and China. It was therefore an initially positive piece of news that the two countries would restart a new round of negotiations that would last for 90 days, that China would pledge to import [..]

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