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

Whale Large Capital

Investing

The dollar index remains in a bearish trend this week

by August 21, 2024
August 21, 2024
The dollar index remains in a bearish trend this week

The dollar index remains in a bearish trend this week

During this morning’s session, the dollar index retreated to 101.31, its lowest value this year

Dollar index chart analysis

During this morning’s session, the dollar index retreated to 101.31, its lowest value this year. After that, a bullish consolidation up to the 101.60 level was initiated. Here, we encounter new resistance that directs us again towards the daily open price. Now, we are at the 101.43 level and trying to stay above the daily open level on the positive side.

If the dollar index managed to move above the 101.60 level, it would form a new daily high, which would be considered very positive for the index. After that, we expect to see further progress to the bullish side. Potential higher targets are the 101.80 and 102.00 levels. At the 101.80 level, we will meet the EMA 50 moving average before continuing further recovery. The EMA 200 moving average, is an obstacle to our concrete move to the bullish side, is at 102.40 in the weekly open price zone.

 

The pressure on the US currency continues this week

For a bearish option, we need a continuation of yesterday’s negative consolidation back below the 101.40 level. After that, the dollar index would have to form a new daily low and thus confirm that there is no strength for a reversal. With the increased bearish momentum, all that remains is to watch the index retreat to a new low. Potential lower targets are 101.20 and 101.00 levels.

We highlight Crude Oil Inventories and FOMC Meeting Minutes from today’s economic news. For Thursdays, we have Initial Jobless Claims, S&P Global US Manufacturing PMI, S&P Global Services PMI, and an Existing Home Sale. Dollar volatility will be at its maximum tomorrow, and with it will all USD pairs, as well as oil and gold.

 

The post The dollar index remains in a bearish trend this week appeared first on FinanceBrokerage.

0
FacebookTwitterGoogle +Pinterest
previous post
Deficit Concerns: Currency Fluctuations and Yen’s Volatility
next post
Oil and natural gas: Oil finds new support this morning

You may also like

EURGBP and EURCHF: EURGBP fails to gain new...

August 26, 2024

Stellar and Bitcoin Cash: Stellar is trying a...

August 29, 2024

Gold and Silver: New Higher Targets and Prices...

October 4, 2024

Bitcoin could fall to a new weekly low

September 6, 2024

EURAUD and EURNZD: EURAUD in a new bearish...

August 23, 2024

S&P 500 Extends Best Weekly Winning, Futures Edge...

October 21, 2024

BighBull Crypto (BIGB): Exploring The Potential

August 29, 2024

AVUV Stock: A Sturdy Player Among Small Cap...

August 20, 2024

ApeCoin and Akita Inu: Fall to New Lows...

October 10, 2024

Stellar and Bitcoin Cash: Stellar has dropped to...

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

    • Trump says Hamas may release 20 hostages ‘a little bit early’ as he heads to Middle East

      October 12, 2025
    • Trump refuses to rule out striking Venezuela. What’s next for Trump’s war on drugs?

      October 12, 2025
    • I was kidnapped by Boko Haram, and survived. No thanks to the West’s silence

      October 12, 2025
    • Trump announces shakeup at top of WH personnel office

      October 12, 2025
    • Trump directs Hegseth to pay troops during ongoing government shutdown standoff as he rails against Schumer

      October 12, 2025
    • Albanian judge killed in courtroom shooting amid growing anger over justice system reforms

      October 11, 2025

    Categories

    • Business (811)
    • Investing (661)
    • Politics (5,898)
    • 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