• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy The dollar index could continue to pull back this week
Economy

The dollar index could continue to pull back this week

by September 30, 2024
by September 30, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

The dollar index could continue to pull back this week

After the dollar index’s support at the 100.60 level, we managed to see a recovery only up to the 100.90 level

Dollar index chart analysis

After the dollar index’s support at the 100.60 level, we managed to see a recovery only up to the 100.90 level. There, the index encountered new resistance and started a new bearish consolidation up to 100.15, forming a new yearly low. Soon after, we saw new support at that level and a recovery to the 100.40 level. The market closed in that zone, leaving the dollar index under pressure at the opening of this week’s session.

For another attempt to stay on the bullish side, we need to get back above 100.80 and the EMA 200 moving average. Then, the dollar needs to hold there before the bullish consolidation continues. A break above the 101.00 level instills hope that the dollar index has enough upside to trigger a larger recovery and visit higher levels. Potential higher targets are 101.20 and 101.40 levels.

 

The index continues to move under the pressure of the EMA 200 moving average

The index’s inability to return above the EMA 200 will negatively affect the dollar’s further movement. New negative consolidation and new pressure on Friday’s low of 100.15 are expected. By forming a new low, we could see the dollar in the 100.00 zone. Potential lower targets are the 99.80 and 99.60 levels.

We have a lot of strong and hearty economic news on Monday. First, in the Asian session, data on China’s Manufacturing PMI will be released. According to the forecasts, better data than the August ones are expected. At the start of the EU session, we have the British GDP and later the German CPI. In the afternoon, data on the Chicago PMI will be published in the US session, and at the end of the day, Jerome Powell, chairman of the FED, will give his speech. Powell’s speech could have a decisive impact on the future movement of the dollar index.

 

The post The dollar index could continue to pull back this week appeared first on FinanceBrokerage.

You Might Also Like
  • Former Trump Cabinet member Betsy DeVos undecided on 2024 endorsement
  • George Santos becomes treasurer of his own campaign following indictment
  • Here are the massive tax increases coming your way in a second Biden term
  • Climate Conferences Fail on Deforestation
Share
0
FacebookTwitterPinterestWhatsapp

previous post
EURUSD and GBPUSD: GBPUSD under pressure to stay bullish
next post
Equities Remain in Strong “Go” Trend as Communications Begin to Excel

You may also like

Pro-lifers set for 50th March for Life after fall of...

January 20, 2023

White House mum on Trump indictment

March 31, 2023

Communicating Economics to Young People

December 15, 2022

White House says Trump’s tariffs will destroy manufacturing, exacerbate inflation

June 15, 2024

Russia-Ukraine war outlook for 2024: Arrogant Putin smells blood, seeking...

December 30, 2023

US and UK impose fresh sanctions on Hamas, targeting money...

November 15, 2023

Hamas says they approve framework for cease-fire agreement with Israel

May 7, 2024

Biden challenger Phillips says special counsel report ‘affirms’ Biden ‘cannot...

February 9, 2024

Supreme Court rules in abortion medication case, finds group lacked...

June 13, 2024

The taxing truth: A state-by-state analysis of tax-time trickery

April 12, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past...

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Disclaimer: RoundTableThoughts.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 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Minnesota Gov Walz expected to sign...

    May 30, 2023

    Blinken may be slapped with subpoena...

    March 27, 2023

    Bitcoin Hits $76,825; Ethereum Breaks Key...

    November 8, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here