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
Fed Officials Speak Out in Force to Back Rate Cut! December Cut Now a Done Deal? Will the FOMC Meeting Be Delayed?TradingKey - San Francisco Federal Reserve President Mary Daly has voiced support for a rate cut at next month's meeting, citing the greater likelihood and harder-to-manage risk of a sudden deteriorat
TradingKey - San Francisco Federal Reserve President Mary Daly has voiced support for a rate cut at next month's meeting, citing the greater likelihood and harder-to-manage risk of a sudden deteriorat
Bitcoin Bleeds to $86K, But This Key Indicator Screams "The Top Isn't In"Bitcoin’s adjusted Spent Output Profit Ratio (aSOPR) has spent nearly two years coiling below the extremes seen at past bull-market peaks, even as BTC trades around $86,300 and down 9% on the week — a setup that leaves open the possibility that this cycle’s true top may still lie ahead.
Bitcoin’s adjusted Spent Output Profit Ratio (aSOPR) has spent nearly two years coiling below the extremes seen at past bull-market peaks, even as BTC trades around $86,300 and down 9% on the week — a setup that leaves open the possibility that this cycle’s true top may still lie ahead.
Gold Price Forecast: XAU/USD rises to near $4,150 as Fed rate cut bets growGold price (XAU/USD) attracts some buyers to around $4,140 during the early Asian session on Tuesday. The precious metal rises on growing expectations of a US Federal Reserve (Fed) interest rate cut in the December policy meeting.
Gold price (XAU/USD) attracts some buyers to around $4,140 during the early Asian session on Tuesday. The precious metal rises on growing expectations of a US Federal Reserve (Fed) interest rate cut in the December policy meeting.
U.S. Q3 Earnings Season Nears Close as Investors Eye Dell, HP Results.U.S. October PCE Price Index Released【The week ahead】TradingKey - Last week, concerns over an AI bubble, coupled with fading expectations for Federal Reserve rate cuts, triggered a broad sell-off in U.S. equities. The tech-heavy Nasdaq Composite (.IXIC.
TradingKey - Last week, concerns over an AI bubble, coupled with fading expectations for Federal Reserve rate cuts, triggered a broad sell-off in U.S. equities. The tech-heavy Nasdaq Composite (.IXIC.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP Attempt Recovery Post-SelloffBitcoin trades back above $87,700 after a 20% drop, while Ethereum rebounds from support around $2,749 and XRP recovers above $2.08 off its $1.96 floor, as BTC, ETH and XRP all try to turn last week’s steep correction into the start of a broader recovery.
Bitcoin trades back above $87,700 after a 20% drop, while Ethereum rebounds from support around $2,749 and XRP recovers above $2.08 off its $1.96 floor, as BTC, ETH and XRP all try to turn last week’s steep correction into the start of a broader recovery.
