Connect with us

Hi, what are you looking for?

Alive Business PlanAlive Business Plan


The dollar index is breaking above the 104.00 level

The dollar index is breaking above the 104.00 level

The dollar also continues to dominate this week, forming a new August high at 104.30

Dollar index chart analysis

The dollar also continues to dominate this week, forming a new August high at the 104.30 level. Yesterday, we had less instability in the dollar’s value, falling to 103.30. There, we got new support and started the previous bullish trend. During the Asian trading session dollar breaks above 104.00, pushing us to today’s high. Potential higher targets are 104.40 and 104.50 levels.

We need a negative consolidation and a pullback of the dollar below the 104.00 level for a bearish option. This could be the first sign of a potential decline in the dollar index. Potential lower targets are 103.80 and 103.60 levels. We would get additional support in the zone around 103.50 in the EMA50 moving average, which was our support throughout August.

Later in the US session, we will have a report by Fed Chairman Jerome Powell on future monetary policy moves, interest rates, inflation rates, etc. Next week, we are expecting the US GDP news and the NFP report.

The post The dollar index is breaking above the 104.00 level appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    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...

    Latest News

    Decrying what he saw as the liberal bias of ChatGPT, Elon Musk earlier this year announced plans to create an artificial intelligence chatbot of...

    Latest News

    One of the newest judges on the Fulton County Superior Court bench, Scott McAfee, has been assigned the sprawling racketeering case that charges former...

    Latest News

    LIVE OAK, Fla. — President Biden traveled to Florida on Saturday to survey the damage caused by Hurricane Idalia, part of a storm response...

    Disclaimer:, 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