Not surprisingly, after such surprising NFP news, the Dollar Index has revealed considerable signs of weakness, and ended the week with a huge bearish bar, more than 3 times the average true range of a daily bar lately. The monthly bullish engulfing bar of May (mentioned in the last review) did close above the monthly 20 SMA, but Read More
Author: Gil Ecker
Since the last bottom made at May 3rd, the Dollar index has made a remarkable recovery, heading towards the mid range at 96.5 approximately. However, at this point, it should still be regarded as a correction in a midterm down trend. We’ve passed the main barrier in that move, the most important Last High Before Low Read More
On the last weekly review, we mentioned the 95.21 (the high made at 14-APR-2016) level as an important bullish barrier level, and the market did take out that level – which means increasing chances to get back into the mid range ~ 96.5 (at least in the mid term). The scenario for the continuation of the bullish Read More
After the Bullish Key reversal over the considerable support mentioned in previous reviews (testing from above the 92.53 Yearly Last High Before Low), last week was a bullish continuation, but with shortening of the thrust. The most important level to reach as for the bull side is the 14-ARP-2016’s High at 95.21. There is a Read More
The US Dollar index managed to close last week strong, as a Bullish Key Reversal. In the previous review, we emphasized the importance of the 92.53 level, which was the Yearly Last High Before Low, and this is the first time a Yearly bar is retracing towards it after it conquered that level last year, Read More
First, let’s have a look on the longer timeframe, in this case the Yearly chart (chart1). The Dollar Index is in a long term correction up, currently halted between the 50% and 61.8% retracement levels, and the 100$ round number psychological barrier. The last year bar managed to take out the Yearly LHBL (Last High Read More
USDX, the index that comprises the main currencies rates relative to the USD has been in a wide range since MAR 2015, after a remarkable bullish momentum that started at JUN 2014. Let’s have a long term look first by chart1, the Yearly chart (each bar is one year). On the longer term, the current Read More