Connect with us

Hi, what are you looking for?


The dollar index remains under pressure from Thursday

The dollar index remains under pressure from Thursday

On Friday, we saw a drop in the dollar index to 105.15. 

Dollar index chart analysis

On Friday, we saw a drop in the dollar index to 105.15. A day earlier, on Thursday, we had resistance at 105.70, after which the dollar began to retreat. During this morning’s Asian trading session, the index movement took place around 105.30 levels. With the start of the EU session, the dollar began to weaken again and retreat to the 105.20 level.

That could initiate a further pullback in the US session and threaten Friday’s low. Potential lower targets are 105.10 and 105.00 levels. Last week’s low dollar index was at the 104.90 level. For a bullish option, we need a better and more stable bottom. If we manage to form it at the current level, we will have a good starting position to start the recovery.

Do we stay under pressure or go above the EMA200?

By first breaking above the 105.40 level, we get support at the EMA50 moving average. We are not far from the EMA200 moving average, which is at the 105.45 level. If we succeed in crossing that level, we will be significantly relieved of the bearish pressure. Potential higher targets are 105.50 and 105.60 levels.

There is no very important economic news today. Tomorrow, first in the EU session, German inflation data will be published. Economists forecast that it could come after an increase in inflation. Later in the US session, we have the U.S. Producer Price Index and Fed Chair Powell Speaks. In this period, we can expect increased market volatility because the future steps of the FED will be discussed.


The post The dollar index remains under pressure from Thursday appeared first on FinanceBrokerage.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Enter Your Information Below To Receive 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


    Some customers of the failed cryptocurrency exchange FTX could receive the full value of the money they lost if a court approves the company’s...


    About 800,000 customers of the online therapy platform BetterHelp will start receiving refund notices related to a settlement with the Federal Trade Commission, the...

    Editor's Pick

    The latest report from industry analyst firm Transforma Insights presents its annual snapshot of the status of the IoT market worldwide. Transforma Insights has...

    Latest News

    The Hill’s nonpartisan ethics watchdog found probable cause to believe Rep. Troy Nehls used campaign funds for personal use, according to a new report...

    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