Connect with us

Hi, what are you looking for?

Smart Success Strategy – Investing and Stock NewsSmart Success Strategy – Investing and Stock News

Economy

The dollar index continues to grow above the 105.00 level

The dollar index continues to grow above the 105.00 level

During this week, the dollar index continued to dominate in relation to other currencies.

Dollar index chart analysis

During this week, the dollar index continued to dominate in relation to other currencies. We saw a break above the 105.00 level and the formation of a new high at the 105.15 level. During the Asian trading session, the dollar weakened slightly to 104.75 levels. He manages to get support there and initiate a new positive consolidation. We are now back at the 105.00 level and could soon test the previous high. Potential higher targets are 105.20 and 105.40 levels.

We need a negative consolidation and a drop below the 104.80 support level for a bearish option. This would mean that the dollar goes on the defensive with the formation of a new low, thus confirming the bearish option. Potential lower targets are 104.60 and 104.40 levels.

This week’s economic news was generally positive for the dollar index. Initial Jobless Claims showed that claims for unemployment insurance fell for the first time last week. The German inflation news showed no fall in inflation, and the euro remained under pressure, pushing the dollar higher. Next week, we have the US CPI and the ECB interest rate decision.

 

The post The dollar index continues to grow above the 105.00 level appeared first on FinanceBrokerage.

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

    Editor's Pick

    The energy revolution is here to stay, and electric vehicles (EVs) have become part of the mainstream narrative. Despite geopolitical tensions and uncertainty, the...

    Editor's Pick

    Overview Mexico’s Sinaloa state hosts a number of prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s...

    Editor's Pick

    Uranium is an important energy sector commodity, and its rising value has attracted investor interest. 2023 has seen uranium prices solidly above the important...

    Investing

    A new survey shows that the presidential race between former President Donald Trump and President Biden is thin, but Biden faces a deficit in...

    Disclaimer: smartsuccessstrategy.com, 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 smartsuccessstrategy.com