GBP / USD is targeting a breakout above 1.3200 amid Brexit optimism. Breakout of a bullish pennant and a gold cross are confirmed on the 1 hour chart. The RSI on the 1 hour chart remains bullish still below the overbought region. Amid the official resumption of Brexit negotiations and hopes for a possible mid-November […]
Tag: Index Dollar
Employment increased in almost all districts, growth remained slow
The Federal Reserve published the beige book report on US economic activity stating that employment increased in almost all districts, although growth remained slow. In addition, it states that economic activity continued to increase in all districts, with a growth rate characterized as mild to modest in most. Key notes Changes in activity varied greatly […]
Additional losses expected below 92.70
The DXY index extends the slide to multi-week lows near 92.70. Below this region is a Fibonacci level at 91.92. The DXY index accelerates downward movement after the recent breakout of key support at the 93.00 round level, hitting fresh multi-week lows in the 92.70 / 65 region. A deeper pullback now threatens to drag […]
NZD / USD extends bounce above 0.6600 as USD continues to weaken
NZD / USD bounces sharply from eight-day lows. USD weakens amid US stimulus hopes and risk appetite. The rebound in US Treasury yields could end the pair’s rally. The pair NZD / USD moves sharply higher during the European session on Wednesday, extending the previous day’s bounce towards the 0.6625 region amid the incessant selling […]
US Dollar DXY Index Extends Fall Below 93.00 Level
The DXY index extends the decline below key support at the 93.00 level. Mortgage applications, speeches by Fed members and the EIA report are prominent on today’s American calendar. The US Dollar DXY Index, which measures the strength of the dollar against a basket of major currencies, remains on the defensive and extends decline below […]
Regaining the 50-day SMA is critical to unleashing the further rally
GBP / USD is poised for a technical breakout on the daily chart. The RSI remains bullish, but the 50-day SMA is a tough nut to crack. The Brexit stalemate extends as the focus shifts to new US stimulus aid. With the deadlock in the Brexit trade deal between the European Union and the United […]
The US dollar index remains depressed near 93.20
DXY continues to trade on a lower bias on Tuesday. The appetite for riskier assets continues to weigh on the dollar. New homes, building permits improve in September. The US Dollar Index (DXY), which tracks the dollar against a set of its main competitors, remains depressed at the lower bound of the recent range near […]
More significant pullback could lead to a retest at 93.00
The DXY remains on the defensive and gradually approaches 93.00. A break of 93.00 would put the 92.70 region back on the radar. The US Dollar Index (DXY) trades through the multi-day lows at the 93.20 / 15 band on Tuesday, simultaneously extending the recent failure at the six-month resistance line. A deeper pullback further […]
WTI climbs back above $ 41 level before API data
WTI is looking to retest the monthly highs of $ 41.47. The USD weakens as risk appetite sentiment improves ahead of the US fiscal stimulus deadline. The OPEC + meeting offered no signs of further production cuts. The WTI (NYMEX futures) is moving higher during the European session on Tuesday, as the bulls struggle to […]
AUD / USD targets September lows of 0.7006 amid pessimistic RBA
AUD / USD has once again been hit by the bearish RBA minutes and comments from Kent. USD bulls hold firm as hopes for US fiscal stimulus fade. The focus is on the September lows of 0.7006, despite the rally in US equity index futures. The pair AUD / USD is extending its four-day losing […]
