• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy The dollar index is bullish again from this morning
Economy

The dollar index is bullish again from this morning

by October 21, 2024
by October 21, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

The dollar index is bullish again from this morning

On Friday, October 18, we watched the dollar index pull back to the 103.50 level

Dollar index chart analysis

On Friday, October 18, we watched the dollar index pull back to the 103.50 level. Bearish consolidation was active throughout the day. Towards the end of the day, the index fell below the EMA 50 moving average, thus intensifying the bearish pressure. At the end of the day, we managed to stop at 103.50.

During this morning’s Asian trading session, the dollar index hit new support at 103.40. After a brief consolidation at the new low, we initiated a bullish consolidation again above 103.50 and the EMA 50 moving average. That reinforced the bullish momentum to 103.65 today’s high. The dollar looks very stable and confident to continue on the bullish side. Potential higher targets are 103.70 and 103.80 levels.

 

The index is recovering from Friday’s decline, moving back above the EMA 50 moving average

For a bearish option, we need a negative consolidation, a drop below the EMA 50 moving average, and a test of the daily open level. By descending into the support zone, we put pressure on the previous low. This time, we hope for a new break below and the formation of a new daily low. Potential lower targets are 103.30 and 103.20 levels. In the 103.20 zone, we encounter the EMA 200 moving average and expect the bearish momentum to slow down there.

We don’t have that much significant economic news on Monday and Tuesday. For today’s US session, we have the US Leading Index and FOMC Member Kashkari Speaks. From the news in the EU session, we single out the Germany Producer Price Index (PPI) for September. The published data is weaker than the forecast. The Producer Price Index (PPI) fell by -0.5%, while the forecast was -0.2%. This caused the euro to weaken, while the dollar index used it to its advantage and recovery.

 

The post The dollar index is bullish again from this morning appeared first on FinanceBrokerage.

You Might Also Like
  • Cruz demands Anheuser-Busch ‘cooperate’ with investigation into Dylan Mulvaney controversy
  • Crypto Bad!
  • Senator Lankford claims Biden administration ‘not going to protect the religious liberty’ of citizens
  • TAKING ON TENT CITY: CA enclave tackling homeless camps declares ‘we want a city that feels and looks safe’
Share
0
FacebookTwitterPinterestWhatsapp

previous post
AUDUSD and AUDNZD: Targets and Prices Weekly Overview
next post
Oil and natural gas: Oil under strong bearish pressure

You may also like

Bitcoin Hits All-Time High, Ethereum Breaks Key Resistance

November 8, 2024

AI test flight moves Air Force one step closer to...

August 5, 2023

Trump turns conviction into cash, spotlights record fundraising in wake...

June 1, 2024

Looming shutdowns, Hunter’s testimony, maybe an impeachment: Congress’ blockbuster week

February 28, 2024

Trump-Stormy Daniels settlement at heart of potential NY DA indictment...

March 19, 2023

McCarthy threatens congressional response to Biden’s handling of Maui fires

August 24, 2023

Trump rejects idea Secret Service couldn’t figure out who owned...

July 17, 2023

California Gov. Newsom’s latest war on oil is off to...

February 25, 2023

Washington Post’s ‘bizarre,’ ‘comical’ profile of Anna Paulina Luna littered...

February 11, 2023

Russia backs Hamas terrorists, calls Israel ‘occupying power’ that ‘does...

November 4, 2023

    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

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

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

      June 27, 2024 2,632 views
    • 2

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

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

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

      July 10, 2024 2,302 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    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

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    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

    Argentina’s newly elected president, Libertarian Javier...

    December 11, 2023

    Trump federal election interference case sent...

    August 2, 2024

    Oil and Natural Gas: New Targets...

    October 14, 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