EUR/USD is struggling to extend the recovery above 1.0400. The US dollar remains in flux despite risk aversion going full throttle. ECB officials are said to want to have a new policy instrument ready by the July meeting. The EUR/USD is attacking 1.0400, unable to sustain recovery near 1.0425 area as EUR bulls remain unimpressed […]
Tag: DollarIndex
USD/CAD Price Analysis: Bullish pennant looming, 1.3000 seems inevitable
USD/CAD finds support on dollar rebound and WTI weakness. The pair glimpses a potential hookup pennant on the 4H chart. The bullish crossover of the 50 and 100 SMAs supports the rise. The USD/CAD remains on the upside near 1.2950 as bulls continue to capitalize on the renewed US dollar rally fueled by risk aversion […]
Gold Forecast: XAU/USD trades around $1,820 after Fed decision
Gold is under pressure as the US dollar firms because of the Fed. the price of gold has reacted little to what was a well-anticipated move by the Federal Reserve on Wednesday. The central bank has raised the reference interest rate by 75 basis points to leave the target range at 1.50% – 1.75%. This […]
USD/JPY defends 134.00 level as dollar pullback stops ahead of US PPI.
USD/JPY bounces off 134.00 as dollar bulls regain control. European indices are back in the red, underpinning safe-haven dollar demand. The US PPI is expected, while a 75 basis point Fed rate hike in June seems likely. The USD/JPY attempts a small recovery during the European session, reversing a sell off at the 134.00 area. […]
USD/CAD bulls take over to prevent a move to Apr 21 lows
USD/CAD corrects latest downward push from lows. The bears seem to be moderating at 1.2458, which could be taken advantage of. In 1.2552, the USD/CAD is up around 0.2% at the time of writing, recovering from fresh cyclical lows hit earlier in the day at 1.2517, as the US dollar returns to be the best […]
US Dollar Index Price Analysis: Decent resistance emerges at 102.80
DXY is trading volatile around 102.40/50 on Wednesday. For now, gains remain capped by the weekly high near 102.80. The US Dollar Index (DXY) maintains erratic performance above 102.00 so far this week. Considering the ongoing price action, further consolidation should not be ruled out as occasional upside attempts seem capped by weekly highs in […]
USD/JPY Price Analysis: Overbought near 133.00 but bulls refuse to stop
USD/JPY soars and challenges the 133.00 barrier. The dollar rises along with the new rise in US Treasury yields. Kuroda’s intervention fails despite the pair being overbought on the daily chart. USD/JPY is at its highest level in the last 20 years, just below the 133.00 barrier, as the bulls take a breather before the […]
US Dollar Index Price Analysis: Further losses not ruled out in the short term
DXY turns lower and retests the 102.00 zone on Monday. Immediately to the downside, the 55-day SMA emerges. The US Dollar Index (DXY) fades part of Friday’s advance amid a better environment in the universe associated with risk. Although dollar gains appear to be capped by the 102.70/75 area, a resumption of the downtrend could […]
AUD/USD Price Analysis: Bulls need acceptance above key 0.7230 barrier, watch RBA
AUDUSD breaks above the 0.7200 barrier, but bulls find it difficult to move higher. News of China reopening and US dollar retreat support the Aussie. The pair defies critical daily resistance, with all eyes on Tuesday’s RBA. The AUD/USD looks to extend the swift recovery beyond the 0.7230 offering zone as bulls refrain from placing […]
US Dollar Index Price Analysis: Is Short-Term Top in Place?
The US dollar index (DXY) recovers some of the ground lost on Thursday. June highs at 102.73 limit the upside so far. The US Dollar Index (DXY) regain some composure and look to extend the bounce past 102.00 on Friday. So far this week, upside attempts seem capped by the June 1 high at 102.73. […]
