Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Indices

DXY: Bearish crossover on the day – OCBC

Source Fxstreet

US Dollar (USD) longs continue to unwind as tariff concerns fade. DXY was last at 106.84 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Risk remains skewed to the downside

"Prospects of a Ukraine peace deal as well as a re-rating of Chinese tech stocks also helped to support sentiments while counter-cyclical USD comes under pressure. A potential meeting between President Xi and prominent Chinese tech entrepreneurs, Jack Ma and DeepSeek founder Liang Wenfeng is perceived as a positive signal."

"Markets are hoping that the outcome of the meeting shows Xi’s support for private sector and/or AI developments. Last Fri, US retail sales disappointed, further adding to USD woes."

"Daily momentum is bearish while RSI fell. Bearish crossover observed (21 DMA cuts 50 DMA to the downside). Risk remains skewed to the downside. Support at 106.20/40 levels (100 DMA, 38.2% fibo retracement of Oct low to Jan high). Resistance at 107.80 (23.6% fibo), 108.00/10 (21, 50 DMAs), and 108.50 levels."

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Solana (SOL) Faces Continued Downside Risk—More Losses Likely Solana started a fresh decline from the $155 zone. SOL price is now consolidating near $145 and might extend losses below the $142 support.

Author NewsBTC

May 06, Tue

Solana started a fresh decline from the $155 zone. SOL price is now consolidating near $145 and might extend losses below the $142 support.

Analysts Highlight 4 Reasons Why ETH Price Could Rebound Strongly in May Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.

Author Beincrypto

May 07, Wed

Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.

Ethereum Price Ready to Surge—$2,000 Level Could Be Within Reach Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.

Author NewsBTC

Yesterday 03: 39

Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.

Sui Price Forecast: SUI bulls aim for 15% gains as open interest and bullish bets increase among traders Sui (SUI) price extends recent gains, soaring10% higher at the time of writing on Thursday and approaching its key resistance level at $3.65.

Author FXStreet

21 hours ago

Sui (SUI) price extends recent gains, soaring10% higher at the time of writing on Thursday and approaching its key resistance level at $3.65.

Ethereum To ‘Witness Big Breakout’ In The Next Two Weeks If This Level Holds As price continues to trade sideways, Ethereum (ETH) has reclaimed a crucial level, which could kickstart a breakout toward the $2,100 resistance.

Author NewsBTC

21 hours ago

As price continues to trade sideways, Ethereum (ETH) has reclaimed a crucial level, which could kickstart a breakout toward the $2,100 resistance.

Related Instrument