US dollar index

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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 – US dollar index jumps above the upper Bollinger band; prints new high

Posted on August 1, 2019 at 9:39 am GMT

The US dollar index produced a new ten-week high of 98.67. The buyers clearly overwhelmed the sellers from the last swing, pushing up from the 96.30 level after the price tested the middle Bollinger band multiple times in a sideways move during July. It is worth mentioning that once after the price bounced off the mid band and rallied up, of the last nine days only two red neutral candles formed, confirming a volatile move north. Momentum indicators are currently [..]

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Technical Analysis – US dollar index completes 7-week high in ascending channel

Posted on July 24, 2019 at 8:58 am GMT

The US dollar index is heading strongly upwards at a new seven-week high of 97.45 after the jump above the 50-day simple moving average (SMAs), posting remarkable gains. However, the stochastic oscillator seems to be overbought as it is trying to turn lower, while the RSI is flattening in the positive territory but remains above the uptrend line. Should the price stretch north the two-year high of 98.25 could come into focus. If the buying interest extends, attention could then [..]

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Technical Analysis – US dollar index surpasses 50-day SMA, suggesting more gains

Posted on July 17, 2019 at 9:07 am GMT

The US dollar index had a successful daily close above the 50-simple moving average (SMA) suggesting remarkable gains, during yesterday’s trading session. The stochastic oscillator is moving higher after it completed a bullish crossover within the %K and %D lines, while the MACD is trying to strengthen its bullish momentum above zero line. Should the price stretch north and clear the 97.20 resistance, the two-year high of 98.25 could come in focus. If the buying interest extends, attention could then [..]

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Technical Analysis – US dollar index struggles below 200-SMA; long-term upward channel intact

Posted on July 2, 2019 at 12:09 pm GMT

The US dollar index has gained some remarkable ground after the climb above the 23.6% Fibonacci retracement level of the upward movement from 88.10 to 98.25 near 95.84. Currently, the index is failing to surpass the 200-day simple moving average (SMA), which coincides with the 96.40 resistance, flirting with a possible drop. However, the stochastic oscillator is fluctuating in the overbought mark and the MACD is recording a bullish crossover with its trigger line in the negative zone. Should the price [..]

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