Investing.com - Financial Markets Worldwide
Get 40% Off
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

More Steady, But Limited Movement For The Dollar

ByIan Copsey
Published 09/02/2014, 12:25 AM
Updated 07/09/2023, 06:31 AM

Friday’s development didn’t go wrong, it just went as expected - but more slowly than I had hoped. So, the expectation of an interesting end to the week has become an interesting mid-week. The Dollar has continued to make steady gains all round with the exception of GBPUSD. Today should see follow-through with further gains expected albeit still at quite a slumbering pace – and of course, with Asia providing the deep sleep in between the rally.

It is noticeable that the 4-hour Price Equilibrium Clouds remain supporting the Dollar with more swings around the hourly Clouds that tends to point to either a temporary stalling point until the 4-hour Clouds hustle price in the same direction or yield to a break in the opposite direction. This mere observation tends to suggest another somnambulistic day.

The Aussie has been choppy in its decline – which is not too much of a surprise because it’s correcting a move from an earlier mini-correction. The outlook remains the same but does point to a more volatile outcome a little further down the road – and one that should be accompanied by the Europeans. The target support remains valid.

I had begun to get a little edgy with USDJPY, thinking that perhaps there was a mild risk of a minor new low but Friday saw that concern laid to rest with the steady gains it has made. This is very much in line with my preference and is helping EURJPY to remain afloat also while EURUSD drifts lower in a haze. I suspect this process will continue over today although we are quite close to some intermediate targets.

In summary: another generally slow but directional day with limited ranges.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
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.