Connect with us

Hi, what are you looking for?

Alive Business PlanAlive Business Plan

Economy

The dollar index is falling from last week’s high to 103.68

The dollar index is falling from last week’s high to 103.68

The dollar index continues to retreat after last week’s formation of a high at the 103.68 level.

Dollar index chart analysis

The dollar index continues to retreat after last week’s formation of a high at the 103.68 level. In the Asian trading session, we hovered around the 103,400 level, only to see a drop below it and a pullback to the current support at the 103.25 level. Increased bearish pressure could trigger a pullback that would continue until the end of the week. Potential lower targets are 103.00 and 102.80 levels.

The dollar has additional support at the 103.00 level in the EMA50 moving average. We need a positive consolidation and a move above the 103.40 level for a bullish option first. Then we need to hold on up there and form a new bottom there. After that, we can expect a bullish consolidation and recovery of the dollar. Potential higher targets are 103.60 and 103.80 levels.

This week, the most important news is from the US market, which could impact the dollar index most. On Tuesday, we have Existing Home Sales. Wednesday is full of dollar news: Building Permits, US Services PMI, New Home Sales, plus GER, EU, GBP and US Manufacturing PMI reports. For Thursday, we highlight Core Durable Goods Orders and Initial Jobless Claims. And finally, on Friday, we have the German GDP report, ECB President Lagarde speaks, and Fed Chair Powell speaks.

The post The dollar index is falling from last week’s high to 103.68 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: 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