US dollar index

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Technical Analysis – US Dollar index plunges towards an almost 3-month low

Posted on June 3, 2020 at 1:16 pm GMT

The US dollar index plummeted to an almost three-month low of 97.24 earlier today, continuing the sell-off of the last six days. The price penetrated the 200-day simple moving average (SMA) and the 61.8% Fibonacci retracement level of the up leg from 94.50 to 103.80 at 98.06, opening the path for a bearish picture in the short term. The RSI turned lower near the oversold territory. At the moment, it has flattened near the 30 line in support of a [..]

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Technical Analysis – US dollar index holds in consolidation after March peak

Posted on May 28, 2020 at 12:10 pm GMT

The US dollar index looks to be mostly neutral after a descent from the March 20 peak of the three-year high of 103.80, returning the price back below the 101.00 barrier and below the 20- and 40-day simple moving averages (SMAs). The decline in the MACD oscillator and the flattening mode in the RSI in the negative region are suggesting more losses in the near term, pushing the market towards the 98.40 support level, which overlaps with the 200-day SMA. Clearing this significant zone, the [..]

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Technical Analysis – US dollar index ticks up; bullish in medium term

Posted on April 23, 2020 at 9:48 am GMT

The US dollar index continues to rise above the short-term simple moving averages (SMAs) following the bounce off the 98.30 support level. According to the MACD, positive momentum could push for further gains in the near-term as the indicator picks up steam above its trigger line. The RSI is also marginally advancing above the neutral threshold of 50. In the positive scenario, where the price continues to expand, a new top could be formed around the 101.00 barrier, where the upper [..]

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Technical Analysis – US Dollar index recoups some strong losses; neutral in very short term

Posted on March 30, 2020 at 12:26 pm GMT

US dollar index futures have been recouping some of the preceding days’ losses following the plunge from the three-year peak of 103.80. The price is currently hovering above the 20- and 40-day simple moving averages (SMAs), while the RSI is turning higher near the 50 level. However, the MACD oscillator is still moving beneath the trigger line, continuing the sell-off on price action. To the upside, immediate resistance could come from the 50.0% Fibonacci retracement level of the up leg [..]

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Technical Analysis – Dollar index bounces off 17-month low, closing the negative gap

Posted on March 10, 2020 at 1:52 pm GMT

US dollar index futures jumped above the 17-month trough of 94.60 today and spiked near the 96.00 number, filling the negative gap posted on Monday. The RSI penetrated the downtrend line to the upside in the oversold zone, suggesting a potential upside correction of the aggressive selling interest, while the MACD is still falling below its trigger and zero lines. If the market corrects higher, the bullish action may pause initially near the 23.6% Fibonacci retracement level of the downward wave from 99.80 to 94.60 [..]

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Technical Analysis – Dollar Index futures bulls may face big challenge near the flat 200-day SMA

Posted on January 10, 2020 at 11:04 am GMT

The US dollar index futures rose above the short-term 20-day simple moving average (SMA) and is approaching the 40-SMA, creating the fourth green day in a row. The price is still developing within a downward sloping channel since October 2019. The fast Stochastics and the RSI, signal that the bearish action is running out of fuel and hence a rebound of the price off the line is likely as the indicators are moving up. Furthermore, the MACD oscillator surpassed the trigger line, completing a [..]

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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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