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The U.S. dollar index (USDX) is a measure of the value of the U.S. dollar relative to a basket of foreign currencies.
Understanding the U.S. Dollar Index (USDX)
The index is currently calculated by factoring in the exchange rates of six foreign currencies, which include the euro (EUR), Japanese yen (JPY), Canadian dollar (CAD), British pound (GBP), Swedish krona (SEK), and Swiss franc (CHF).
Therefore Look at the Dollar index 1st will set the tone of what you might do with the majors. Pls note….
US Dollar Index: Another visit to the 2022 top remains in place
DXY Lacks follow through and wonders off to 109.55
GBP/USD trades below 1.1500 amid souring market mood staying on the backfoot and trades at fresh daily lows below 1.1500 during the American session. The risk-averse atmosphere, as reflected by sharp declines in US stocks, is not allowing the British pound to show resilience against the greenback.
GBPUSD Despite poor retail sales early doors pound continues to head south
06:00 | GBP | Retail Sales (MoM)(Aug) | -1.6% | -1.28 | -0.5% | 0.4% |
Since then GBP/USD managed to stage a rebound from the multi-decade low it touched at 1.1350 earlier in the day and rose above 1.1400. The renewed dollar weakness following the UoM Consumer Sentiment Survey fuels the pair’s recovery ahead of the weekend.
GBP/USD managed to stage a rebound from the multi-decade low it touched at 1.1350 earlier in the day and rose above 1.1400. The renewed dollar weakness following the UoM Consumer Sentiment Survey fuels the pair’s recovery ahead of the weekend.
GBP: Great British Pound
Range trading continues in USD/JPY and intraday bias stays neutral first. While deeper retreat cannot be ruled out, downside should be contained by 139.37 resistance turned support. On the upside, break of 144.98 will resume larger up trend to 147.68 long term resistance. Break there will target 161.8% projection of 126.35 to 139.37 from 130.38 at 151.44 next.
On the upside, break of 144.98 will resume larger up trend to 147.68 long term resistance. Break there will target 161.8%
Range trading continues in USD/JPY and intraday bias stays neutral first. While deeper retreat cannot be ruled out, downside should be contained by 139.37 resistance turned support. On the upside, break of 144.98 will resume larger up trend to 147.68 long term resistance. Break there will target 161.8% projection of 126.35 to 139.37 from 130.38 at 151.44 next.
USD/JPY
EUR/USD attempts to bounce from key support area
EUR/USD bulls are attempting a correction from an important support area near the midpoint of the 1.1400 area, with the price recovering from a low of 1.1462 and now testing
EUR/USD has gathered recovery momentum and climbed above parity during the American trading hours on Friday. The greenback stays on the backfoot amid week-end flows and the soft inflation components of the UoM survey, allowing the pair to push higher.
EUR: European Union
Cycle analysis - Timming the market
Turing Up from epic lows
EUR/USD bulls are attempting a correction from an important support area near the midpoint of the 1.1400 area, with the price recovering from a low of 1.1462 and now testing
Everything is circle everything in it’s circle
EUR: European Union