DXY: Lacks steady upward momentum – Societe Generale
Source Fxstreet
The Dollar Index (DXY) failed to cross above January high of 110.15 in recent attempt and has gradually pulled back below the 50-DMA, Societe Generale's FX analysts report.
Next potential objective can be located at 106.30
"It is now challenging the upper limit of previous multiyear range. Recent pivot low of 106.90/106.65 is first layer of support. Daily MACD posted negative divergence and has dipped below equilibrium line highlighting lack of steady upward momentum."
"If the index struggles to reclaim the MA at 108 there would be risk of a deeper decline. Below 106.90/106.65, next potential objectives could be located at 106.30 and December low of 105.40/105.10."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
WTI Crude Breaks $90, Brent Crude Approaches $100, Middle East Shipping Risks Drive Continuous Rise in Oil Prices On July 23, international oil prices continued to rise sharply. WTI crude oil ( USOIL) prices broke through the $90 mark intraday, rising over 4%, while Brent crude oil ( UKOIL) rose to a
On July 23, international oil prices continued to rise sharply. WTI crude oil ( USOIL) prices broke through the $90 mark intraday, rising over 4%, while Brent crude oil ( UKOIL) rose to a
WTI climbs above $87.00 as Middle East conflict threatens key choke pointsWest Texas Intermediate (WTI) oil price extends gains for the fifth consecutive day, trading around $87.30 per barrel during the Asian hours on Thursday. Crude oil prices surged as escalating Middle East tensions stoked fears of widespread supply disruptions.
West Texas Intermediate (WTI) oil price extends gains for the fifth consecutive day, trading around $87.30 per barrel during the Asian hours on Thursday. Crude oil prices surged as escalating Middle East tensions stoked fears of widespread supply disruptions.
Gold rallies to over two-week high, eyes $4,150 as traders track US-Iran diplomacy effortsGold (XAU/USD) rallies to an over two-week high, around the $4,140-$4,141 area, during the Asian session on Wednesday amid hopes that US-Iran diplomacy could ease energy prices and temper hawkish US Federal Reserve (Fed) expectations.
Gold (XAU/USD) rallies to an over two-week high, around the $4,140-$4,141 area, during the Asian session on Wednesday amid hopes that US-Iran diplomacy could ease energy prices and temper hawkish US Federal Reserve (Fed) expectations.
Oil prices continue rallying on Wednesday as hostilities in Iran threaten to escalate out of control, and reports of vessels turning around in the Red Sea heighten concerns about supply disruptions.
The USD/JPY enters a bullish consolidation phase during the Asian session on Wednesday and holds steady above the 163.00 mark, near its highest level since 1986 set the previous day.
Related Instrument
