Connect with us

Hi, what are you looking for?

Oracle of  Omaha SaysOracle of  Omaha Says


The dollar index took a step back below 105.50 yesterday

The dollar index took a step back below 105.50 yesterday

This week, the dollar index was in a bullish consolidation until yesterday, stopping at 105.74

Dollar index chart analysis

This week, the dollar index was in a bullish consolidation until yesterday, stopping at 105.74. A strong bearish impulse followed, leading to a pullback. The index dropped to 105.40 and fell below the EMA200 moving average. By the end of the day, the retreat continued to the 105.20 level.

During this morning’s Asian trading session, the index remained above the support level and recovered to the 105.30 level. However, it has not managed to move above this level and is currently moving in the 105.20-105.30 range. This could potentially increase the pressure on the dollar to slide below to a new daily low, with potential lower targets at 105.10 and 105.00 levels.

Pulling back below 105.00, is there dollar strength to move back above?

For those considering a bullish option, there is potential for a recovery if we manage to move above the 105.30 level and sustain that position. This could open up the opportunity for a further recovery on the bullish side, with potential higher targets at 105.40 and 105.50 levels. It’s important to monitor the EMA200 moving average in the zone of 105.50 levels for any potential shifts.

While there are no significant news events for the dollar today, it’s important to note the following: FOMC Member Bowman Speaks, Michigan Consumer Sentiment, Fed Goolsbee Speaks, Fed Vice Chair for Supervision Barr Speaks, and Federal Budget Balance. Looking ahead to next week, there is also a lower volume of very important news. We highlight the following: German CPI, American CPI, Japanese GDP and Eurozone CPI.


The post The dollar index took a step back below 105.50 yesterday appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    A former Republican legislative candidate who traveled to Washington for former President Donald Trump’s ‘Stop the Steal’ rally was arrested Friday and charged with...


    Even as U.S. inflation broadly cools, frozen vegetable prices are hot. The average shelf price for frozen veggies rose by 18% in the past year...

    Latest News

    Abbe Lowell, Hunter Biden’s attorney, filed an ethics complaint Friday against Georgia Rep. Marjorie Taylor Green after she displayed censured nude photos of the president’s...

    Latest News

    President Biden has overruled the Pentagon and chosen Adm. Lisa Franchetti to lead the Navy, making her the first woman, if she’s confirmed, to...

    Disclaimer:, 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