Connect with us

Hi, what are you looking for?

Alive Business PlanAlive Business Plan

Economy

The dollar index is at 103.60 level ahead of the NFP report

The dollar index is at 103.60 level ahead of the NFP report

The dollar index started well at the beginning of this week by jumping up to 104.30 levels.

Dollar index chart analysis

The dollar index started well at the beginning of this week by jumping up to 104.30 levels. We encounter resistance at that level and make a pullback to the 102.90 level on Wednesday. After that, the dollar gets support at that level, and we start a new recovery up to the 103.70 level. During the Asian trading session, we see that we are not able to break above, and we are pulling back slightly to the 103.60 level.

We need a negative consolidation and a drop below the 103.40 level for a bearish option. We would also fall below the EMA50 moving average, which would increase the bearish pressure on the dollar. Potential lower targets are 103.20 and 103.00 levels.

We need a positive consolidation and a break above the 103.70 level for a bullish option. Then we need to maintain above in order to stabilize there and initiate further recovery. Potential higher targets are 104.00 and 104.20 levels.

In today’s US session, important economic news awaits us: NFP, Unemployment and ISM Manufacturing PMI report later. This news could increase the volatility of the dollar index and all USD pairs.

The post The dollar index is at 103.60 level ahead of the NFP report appeared first on FinanceBrokerage.

Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    You May Also Like

    Editor's Pick

    Overview The world of business technology has evolved. Driven by the shift towards distributed work and cloud application delivery, enterprise infrastructure is undergoing a...

    Latest News

    Donald Trump’s defense attorneys Wednesday asked the federal judge handling the government’s classified documents case to allow the former president and his legal team...

    Economy

    Bitcoin Rebounds to $69,000 Quick Look Bitcoin rebounds to $69,000, influenced by optimistic FR statements and anticipation of the halving event. FR officials’ comments...

    Economy

    0xDistro ICO (DISTRO) is Live. What does it offer? In the world of decentralized finance, 0xDistro emerges as a promising project. It presented itself...



    Disclaimer: alivebusinessplan.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 alivebusinessplan.com