DXY retrcd 23.6% of Apr 2008-Dec 2015 rally, testing key support

TVC:DXY   U.S. Dollar Currency Index
Dollar index             a bearish monthly close on Friday as it closed below 93.50, which is 23.6% fibonacci retracement level of rally seen from April 2008 low to Dec 2015 high.

A look at monthly chart shows -

  • Bearish 5-MA and 10-DMA monthly chart with a bearish close below 93.50 indicates bears in control and may be able to push the index down to 89.16 levels (38.2% Fib), unless we see a solid rebound from key support range of 92.29 (May 2004 high)-92.63 (Nov 2005 high & Aug 2015 low).
  • Watch out for a corrective rally to 93.50 as the index is oversold as per daily RSI .
  • A sharp correction could happen only if the US wage growth figure due this Friday surprises on the higher side. A strong NFP along would not be enough.
  • In the near-term area around 95.50-96.00 is likely to restrict recovery in the index, unless Fed policymakers talk up rate hike bets.
  • On the other hand, a weak wage growth data this Friday would open doors for a slide to 38.2% Fib level of 89.16 levels.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out