Whale Large Capital
  • Politics
  • World News
  • Business
  • Investing
  • Politics
  • World News
  • Business
  • Investing

Whale Large Capital

Investing

The dollar index managed to stabilize and start a recovery

by August 7, 2024
August 7, 2024
The dollar index managed to stabilize and start a recovery

The dollar index managed to stabilize and start a recovery

On Monday, at the beginning of the US session, the dollar index retreated to 102.16, forming a new August low. 

Dollar index chart analysis

On Monday, at the beginning of the US session, the dollar index retreated to 102.16, forming a new August low. After that, we saw more bullish consolidation moves and a return above the 102.60 level. There, we got new support from which the index started a bullish consolidation above the 103.00 level. This morning, we found support in the EMA 50 moving average, which reinforces our claims for a recovery.

We are also above the weekly open price on the positive side, which suggests more optimism. The daily high was formed at 103.40, and the chances of seeing a continuation to the bullish side are increasing. Potential higher targets are the 103.60 and 103.80 levels. The dollar index will have additional resistance in the 103.65 zone in the EMA 200 moving average.

 

We see a recovery from the weekly low, is there a strength index for a bigger recovery?

For a bearish option, we need a new pullback below the EMA 50 moving average and the 103.00 level. This will put pressure on the daily open price. If the bearish momentum continues, we expect to see the formation of a new daily low. Such a picture will strengthen the bearish scenario and the retreat of the dollar index. Potential lower targets are 102.80 and 102.60 levels.

From today’s economic news, we highlight Crude Oil Inventories and the 10-year Note Auction. On Thursday, we have the weekly report on Initial Jobless Claims and the 30-year Bond Auction. We have less economic news this week, but it’s crucial to remember that world events, such as geopolitical tensions or major policy changes, can significantly impact market movements. Staying informed about these events is key to understanding the full context of the market.

 

The post The dollar index managed to stabilize and start a recovery appeared first on FinanceBrokerage.

0
FacebookTwitterGoogle +Pinterest
previous post
Nasdaq Eyes SEC Approval for BlackRock Ethereum ETF Options
next post
Disney raises streaming prices for Hulu, Disney+ and ESPN+

You may also like

Oil and natural gas: oil makes an impulse...

September 2, 2024

SafeMoon and Litecoin: New Support Levels and Targets

October 10, 2024

S&P 500 Futures Slip 0.51%

November 15, 2024

Bitcoin manages to maintain a bullish consolidation

August 23, 2024

SafeMoon and Litecoin: LItecoin in sideways consolidation

August 20, 2024

Solana in bullish surge, Cardano lags behind with...

August 7, 2024

SafeMoon and Litecoin: New Targets and Support Levels

October 22, 2024

Trump Media Group Stock (DJT) Surges 25% as...

November 8, 2024

Fed Rate-Cut Awaited in September: Officials Stance 

August 22, 2024

Middle East: US Seeks to Deter Future Attacks

August 15, 2024

    Subscribe today to receive exclusive access to all our retirement secrets and income strategies, including special financial news and updates from our experts. From time to time, our newsletters feature valuable insights and analysis on the latest financial trends. Don't miss out on these exclusive updates – join our subscription to stay informed!


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



    Latest

    • Ben & Jerry’s co-founder resigns, claiming parent company Unilever ‘silenced’ its campaigning

      September 18, 2025
    • 4 House Republicans vote with Dems to block resolution censuring Ilhan Omar for Charlie Kirk comments

      September 17, 2025
    • House clears path for vote honoring Charlie Kirk, denouncing ‘political extremism’

      September 17, 2025
    • Schiff: Patel’s FBI leadership replaced expertise with ‘rabid partisanship’

      September 17, 2025
    • Manchin recalls close ties with ‘outsider’ Trump, cold shoulder from Obama in new book

      September 17, 2025
    • Obama calls Charlie Kirk’s death ‘horrific,’ blames Trump for fueling division

      September 17, 2025

    Categories

    • Business (801)
    • Investing (661)
    • Politics (5,615)
    • World News (3,213)
    • Terms & Conditions
    • Privacy Policy
    • Contact us
    • About us

    Disclaimer: WhaleLargeCapital.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 © 2025 WhaleLargeCapital.com | All Rights Reserved