Connect with us

Hi, what are you looking for?

Investing

The dollar index continues to push above the 104.00 level

The dollar index continues to push above the 104.00 level

During the Asian trading session, the dollar index continued the bullish consolidation that started on Friday.

Dollar index chart analysis

During the Asian trading session, the dollar index continued the bullish consolidation that started on Friday. Now we have stabilized above the 104.00 level, we continue toward the 104.30 level. If the current trend continues, we could soon climb to 104.40 levels. There we would test the June high and need a break above to continue to the bullish side.

Potential higher targets are 104.50 and 104.60 levels. If we think bearish, we need a drop below the 104.00 level. Below we would see a pullback to 103.90, where the EMA50 moving average awaits us.

Later in the US session, we will have: The Service PMI report and The Institute of Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI) report. These two reports could shake up the dollar index and make a bigger move on the chart.

The post The dollar index continues to push above the 104.00 level appeared first on FinanceBrokerage.

    You May Also Like

    Editor's Pick

    In this edition of StockCharts TV‘s The Final Bar, Dave shows how breadth conditions have evolved so far in August, highlights the renewed strength in the...

    Economy

    Boeing’s crew spacecraft Starliner will stay docked with the International Space Station into August, NASA confirmed on Thursday, as the mission remains on hold...

    Stock

    S&P 500 pared back its intraday gain on Wednesday following a Bloomberg report that Royal Group has built a multi-billion-dollar short position in U.S....

    Economy

    A U.S. judge has ruled that former Bed Bath & Beyond investor Ryan Cohen can be sued by investors over a tweet he posted featuring an...

    Disclaimer: Richpeoplenetworks.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 Richpeoplenetworks.com