Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Is The US Dollar Ready To Take A Breather?

Published 10/26/2014, 12:21 AM
Updated 07/09/2023, 06:31 AM

Below is a weekly chart of the US Dollar Index. We see that since June, the US dollar has sharply accelerated, with the Dollar Index going from 80 to over 86.However, the pair has cooled off a bit over the past three weeks. Is a range forming as the market consolidates its recent gains?

Dollar Index Weekly

Below is a daily chart of the Dollar Index. If the market is entering a period of consolidation, we can see support and resistance on the Dollar Index's daily chart from 84.38 to 86.66. This might give us levels to buy and sell it using simple range-bound trading techniques.

Dollar Index Daily

What do you think?

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.