Checking the RSI index compare to past 6 months,expect the RSI will go over 66.
The spot gold price will test the recent low also double bottom support may be this week or next.
If gold price drop below the support will trigger Dollar to trade higher.
Medium term outlook Dollar will stay high because lots of funds are withdrawn from China in May and June.
Fed...
As we can appreciate the price rebound from the lower part of the channel the price didn´t recieve the strong enought to break the line yet
What to take on considerations:
In the fundamental side: The US-China trade deal end with rise on tarrif on both countries, the market is pondering the situation. last week weak reports on consumer and industry are...
What I see in the DAX is that it has finished a third wave, did an abc correction for the fourth wave which retraced 38.2% of the third wave and also finished in the price range of the fourth wave of the extended third. It is very possible that now we are going up for the fifth wave. The other point of view that I have is that the fourth wave has not finished yet...
DXY still shows strength and moving to the upside as per our expectations targeting the prior high. We will change our expectation once price prints a lower low on daily candles. Stop loss is 97.40.
Hello Traders, welcome to the Weekly Forex technical analysis. Today is May 19th, 2019 and we will be taking a look at the U.S. Dollar Currency Index on the weekly chart just to get into the calendar, and have an outlook into the upcoming week. Looking at the Dollar Index here on a weekly time frame, we can see we got a minor correction and finally it moved back...
I thought Mr Trump could jawbone um down but the only way we get weaker dollar is if huge infrastructure bill passes. US Govt (admitting or not) has already embraced MMT since Nixon.
Stock Indices use a portfolio of representative companies (usually spanning major industries) to reflect the status of the whole stock market. There are basically three kinds: global, regional and national. Global indices include companies regardless of where they are traded. Regional indices include companies from a certain region and national indices include companies from a specific nation. Stock Indices are used to get an indication of the market's overall direction. Some analysts use them as a barometer of the underlying economy.
Indices can be comprised of tens to hundreds of stocks and each index calculates the weighted average differently. Some weigh the stocks equally (equal weighting), others take company size into account (capitalization weighting) and others use a hybrid method (modified capitalization weighting). Stock Indices are tradable entities themselves. A currency index is a measure of the value of a specific currency relative to other select currencies. Indices like the US Dollar Index or the Euro Currency Index are used to gauge the strength of those respective currencies.
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