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

Whale Large Capital

Investing

The dollar index could continue to recover this week

by September 2, 2024
September 2, 2024
The dollar index could continue to recover this week

The dollar index could continue to recover this week

During this morning’s Asian trading session, the dollar index rose to 101.79

Dollar index chart analysis

During this morning’s Asian trading session, the dollar index rose to 101.79. We stopped there, and the index started a slight retreat with support at the 101.60 level. We have received the required support and now see a small break to 101.65. Today is a holiday in the United States—Labor Day. The market will be closed, and volatility will be at a minimum.

Based on this, we can expect a sideways movement of the dollar index without major movements. The movement range is 101.60-101.80. For a bearish scenario, we need the formation of a new low below the 101.60 level. This will form a new daily low and confirm that the index is under pressure. Potential lower targets are the 101.50 and 101.40 levels. At 101.40, we hope for support from the EMA 200 moving average.

 

The index is solid on Monday, and we expect a continuation to the bullish side

The dollar index’s inability to maintain above that line will strengthen the bearish momentum. For a bullish option, we need a break above the 101.80 level. With this, we climb to a new daily high and strengthen the bullish momentum. That would return us to the previous bullish trend and increase optimism for a continuation on the bullish side. Potential higher targets are the 101.90 and 102.00 levels.

As we said, today is Labor Day, a holiday in the United States. The market will be closed in the afternoon. Only tomorrow can we expect an increase in market volatility. We have some important news for the dollar index on Tuesday: S&P Global US Manufacturing PMI, ISM Manufacturing PMI, and ISM Manufacturing Prices. We will single out only news about Swiss inflation and GDP from today’s EU session. That news could be interesting because, based on the published data, we can sense an irregular move by the Swiss central bank.

 

The post The dollar index could continue to recover this week appeared first on FinanceBrokerage.

0
FacebookTwitterGoogle +Pinterest
previous post
AfD becomes first far-right party to win German state election since 1945
next post
Ethereum remained under pressure at the start of this week

You may also like

Fubo Stock Analysis – Get All The Crucial...

September 17, 2024

USDCHF and USDJPY: USDCHF continues the bullish trend

August 12, 2024

USDCHF and USDJPY: USDCHF continues to fall on...

August 26, 2024

Elon Musk Tests X Ahead of Trump Livestream...

August 12, 2024

ACLX Stock – Get All The Latest Information...

September 19, 2024

NVIDIA Corporation (NASDAQ:NVDA) shares fell roughly 3%

November 21, 2024

Solana and Cardano: Solana again at the weekly...

August 15, 2024

Stablecoin Market Reaches $204B, Signaling Crypto Rally

February 3, 2025

Gold & Silver Analysis: Key Levels & Trendline...

November 8, 2024

The dollar index returned to the positive side...

August 9, 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

    • State Department says 59,000 tons of food assistance are in motion after reports of incinerated aid

      July 18, 2025
    • Pentagon to probe Microsoft’s use of Chinese engineers on sensitive defense systems, Hegseth says

      July 18, 2025
    • GOP senator reveals the ‘dirty’ secret to Trump’s Make America Healthy Again movement

      July 18, 2025
    • Russia says NATO threatens WWIII in latest deterrence plan that could take down Kaliningrad ‘faster than ever’

      July 18, 2025
    • Pro-Israel congressman accuses Tel Aviv of ‘mocking’ Trump with ‘suicidal’ strikes in Syria

      July 18, 2025
    • House Republicans face mounting resistance as third ex-Biden WH aide pleads Fifth Amendment

      July 18, 2025

    Categories

    • Business (721)
    • Investing (661)
    • Politics (4,977)
    • 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 © 2024 WhaleLargeCapital.com | All Rights Reserved