Longer Term Dollar Analysis – Dollar Index Technical Update The US Dollar continues to push broadly higher as demand for safe haven currencies grows on declining stock and commodities markets. The ongoing stalemate in Greece and subsequent failure to agree on a national unity government formation has lead to a situation where a new poll…
Dollar Index Technical Analysis 15/5/2012 The USDX continues to trade near the weekly range highs after a strong daily close on Monday. Price is now consolidating recent gains and is near flat on the day with a 0.09% drop at present. It is no surprise to see a small reaction to the downside as this…
Dollar Index Analysis – USDX Gains On Flight To Cash - May 14th Forecast The dollar index hit the highest level seen since March 16th on Friday. The USDX is now up 1.89% on the monthly basis. The dollar has seen major gains as commodities have sold off with XAGUSD (Silver) down almost 5% on the…
Dollar Index Technical Analysis 10/5/2012 USDX upside pressure remains as the dollar index trades near to 80.00 area resistance. Price has penetrated this level and is currently consolidating gains at the round number. The dollar has gained as commodities are sold across the board. Gold is trading in a bearish continuation below range support. Dollar…
Dollar Index Technical Update – USDX – DXY – USD Technical Forecast The dollar index has seen four consecutive up days after 78.70 area support held at the start of the week. Price is now retesting the previously broken ascending trend line. This area is just below a touch of the descending trend line which…
Dollar Index Technical Analysis Update – 2nd May 2012 The US dollar index has found support at the 78.60 area prior swing low and 150 EMA area. Price rallied today after two “indecision candles” formed on the daily timeframe. A doji was seen on Monday followed by a spinning top (also technically an outside day)…
Dollar Index Technical Analysis Update 29th April 2012 The US dollar has broken well below the ascending trend line we have been monitoring over the previous dollar index update posts. USDX price has now hit the bullish engulfing candle low and the previous visit to this area experienced considerable buying interest. Price action at this…
Dollar Index Analysis The dollar index has found buying interest at the ascending trend line level we highlighted in the weekends update; this technical level was hit during the Asian session and the USDX found fresh upside momentum from the London open. This dollar index upside comes as the currency majors have favored dollar strength…
Dollar Index Analysis Update 22nd April The D1 dollar index chart below shows the USDX has once again hit trend line support at the 79.13 area. Fridays candle has closed at the lower end of the range and a sustained move below 79.13 may see a bearish breakout. Initial downside areas of note include the…
Dollar Index Analysis – USDX Technical Update The USDX has seen a high momentum move to the upside from the 79.21 weekly range low (previous daily highs from the 28th/29th March). This comes after our previous dollar index update said that “any failure to hold at current levels may see a move down to the…
Dollar Index Analysis Technical Update 11/4/2012 Our previous dollar index update commented that the 80.00 area was part of a larger price pivot zone. This PPZ has described price on range highs and lows during early week trading from 79.70 to 80.00. There was a small spike below this price pivot zone, down to the…
Dollar Index Analysis (USDX) The dollar index has seen an upside continuation after forming a bullish engulfing line – as highlighted in the post FOMC update. USDX went as high as 80.00 which is part of a larger price pivot zone. EURUSD (with a 57.60% weighting in USDX) is trading over the 1.300 psychological level,…
Dollar Index Technical Analysis The dollar index (a daily chart of which can be seen below) has moved under the up-sloping trend line as it continues the recent downwards trend but the momentum is lacking this week. ADR over 60 days is 57 pips with yesterday seeing only 32 pips. Longer term moving averages are…
Dollar Index Technical Update The USDX has retreated further from the 80.00 area resistance level following the bearish engulfing candle on the 15/3/2012. Price pierced a near term trend line on Friday but subsequently moved back above this ascending trend line support level. Any drop lower for the dollar index would potentially need t0 contend…
W1 Shooting Star/Pinbar Points To Potential USDX Downside The dollar index W1 shooting star is indicating a lower dollar index may be ahead after a failure to sustain price above the 80.00 level during recent trading. This price action reversal signal comes while the heavily weighted euro/dollar is close to recent consolidation range highs. The…
Dollar Index Analysis The dollar index started the week with a breakout above the 80.00 area range highs; the market has rejected the higher prices around the 61.8% Fibonacci retrace level and is retesting the 79.76 PPZ that has been highlighted below. Price action alone is suggesting a move below the PPZ could take place…
Dollar Index Analysis The USDX has made a bullish breakout above the 80.11 area range highs. We will be looking for this area of previous resistance to now hold as support on the dollar index in order to add further confirmation to the breakout scenario. Next area of previous SR is the 80.75 area which…
USDX (Dollar Index) Price Action Update The value of the USD in March could be highly dependent on the reaction seen over coming sessions to the 80.00 psychological round number level. This area is closely aligned with the 50% retrace area and has recently seen a strong rejection as price moved back down towards the…
Dollar Index (USDX) Technical Update The USDX made an attempt to break below the prior swing low mid-week and subsequently found support at this highly confluent 78.20 area; this has Fibonacci 38.2 retrace and FE 61.8 expansions aligned with the price structure support. The bullish engulfing candle that followed, on a failure to sustain a…
USDX Dollar Index Update The dollar continues to drop despite the issues in the Eurozone periphery as the prevailing market sentiment appears to have little effect on the underlying price action. Our dollar index update analysis last week noted “a further corrective move lower could potentially be seen as the long upside shadow on Thursdays…
Dollar Index Forecast – USDX Analysis 19th February The dollar has risen versus its major currency counterparts despite a late week downside correction; this came after the heavily weighted EUR/USD currency pair rallied almost 200 pips on Thursday along with cable and other majors. A correction on the USDX came after price had penetrated the…
Dollar Index (USDX) Analysis The USDX has closed the week as a doji. This is indicating that dollar index sellers may not be as committed as they were with regards to the previous downtrend. This is however coming after two strong down weeks and at the very least we would like to see a move…
USDX Technical Analysis Update – 4 Hour Chart Focus USDX has dropped from earlier 79.50 area highs after threatening to breakout to the upside and is currently trading around the 79.30 area. Average 60 day range is 65 pips with today printing 60 and 78% of the ADR. The heavily weighted EUR/USD moved as low…
Dollar Index Analysis – Key Support and Resistance levels The USDX has traded within a 78.61 – 79.56 range this week. This comes in at 95 pips which is 57% of the average weekly range (AWR) over 26 weeks. This week did provide the first higher close over the last 3 weeks. This was far…
Dollar Index Technical Update 31/1/2012 The dollar index is close to a two month low as the corrective move to the downside shows no sign of turning at present. Dollar weakness has been seen across numerous currency pairs. USDX price is currently trading near the weekly low as the heavily weighted EURUSD currency pair recovers…
