Connect with us

Hi, what are you looking for?

Deluxe Investment Group – Investing and Stock NewsDeluxe Investment Group – Investing and Stock News

Economy

The dollar index is breaking above the 104.00 level

The dollar index is breaking above the 104.00 level

The dollar also continues to dominate this week, forming a new August high at 104.30

Dollar index chart analysis

The dollar also continues to dominate this week, forming a new August high at the 104.30 level. Yesterday, we had less instability in the dollar’s value, falling to 103.30. There, we got new support and started the previous bullish trend. During the Asian trading session dollar breaks above 104.00, pushing us to today’s high. Potential higher targets are 104.40 and 104.50 levels.

We need a negative consolidation and a pullback of the dollar below the 104.00 level for a bearish option. This could be the first sign of a potential decline in the dollar index. Potential lower targets are 103.80 and 103.60 levels. We would get additional support in the zone around 103.50 in the EMA50 moving average, which was our support throughout August.

Later in the US session, we will have a report by Fed Chairman Jerome Powell on future monetary policy moves, interest rates, inflation rates, etc. Next week, we are expecting the US GDP news and the NFP report.

 

The post The dollar index is breaking above the 104.00 level appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.



    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    Florida Gov. Ron DeSantis (R) needs a massive infusion of cash in the next two months of the Republican presidential primary race to help...

    Editor's Pick

    ERP or Enterprise Resource Planning solutions help businesses of all sizes manage their daily business operations. First used in the 1990s, ERP systems have...

    Latest News

    The United States could be on track for a Joe Biden-Donald Trump rematch in 2024, but it’s the president’s son Hunter Biden who earned...

    Latest News

    A week ago, a Jan. 6 defendant was arrested near Barack Obama’s in D.C. with what the government says was a machete, two guns...

    Disclaimer: Deluxeinvestmentgroup.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 © 2023 deluxeinvestmentgroup.com