News

US Dollar Index technical analysis: DXY ends the week above the 98.10 support

  • DXY (US Dollar Index) is ending the week above 98.10 support.
  • The next targets to the upside could be located at 98.10 and the 98.38 levels.

DXY daily chart

DXY (US Dollar Index) is in a bull trend above its main daily simple moving averages (DSMAs). DXY got a boost on Thursday as the European Central Bank’s (ECB) member Olli Rehn said that ECB stimulus package in September might overshoot expectations. Also, the Retail Sales Control Group in July surpassed expectations adding to the positive sentiment on the Greenback. On Friday, Consumer Confidence disappointed market expectations.

DXY 4-hour chart

The market is settling above 98.10 and its main SMAs. DXY bulls need to clear 98.38 to climb towards 98.68 and the 98.93 levels. 

DXY 30-minute chart

The Greenback is trading above its main SMAs, suggesting bullish momentum. Immediate support could be found near the 98.10, 97.95 and 97.85 levels.

Additional key levels

Articles You May Like

WTI crude breaks the opening spike highs
USD/CHF GBP/JPY trade Best Forex Trading System 13 SEPT 2019 Review -forex trading systems that work
Taking A Live Trade At 3am… | My Forex Trading Journey
Sterling (GBP) Price Outlook: Brexit, Prorogation and BoE All in The Mix
NZD/USD technical analysis: Range bound above 200-HMA

Leave a Reply

Your email address will not be published. Required fields are marked *