Macro approach:
- The US dollar index fell yesterday as markets weighed fresh Washington–Tehran peace talks after weekend confrontations near the Strait of Hormuz.
- US officials reiterated their commitment to keeping the waterway open for commercial shipping, easing geopolitical worries.
- The US dollar could gain if the peace talks continue to face uncertainties.
Technical approach:
- DXY is bouncing from the support at 101.08. The index broke the descending trendline and may head to test the neckline of the potential Double-Bottom pattern. The index is also above both EMAs, indicating a potential resumption of its uptrend.
- If DXY breaks above 101.39, the index may surge toward the immediate resistance at 101.70.
- On the contrary, staying below 101.39 may prompt a reset of the descending trendline.
Analysis by: Quoc Dat Tong, Senior Financial Markets Strategist at Exness
- The US dollar index fell yesterday as markets weighed fresh Washington–Tehran peace talks after weekend confrontations near the Strait of Hormuz.
- US officials reiterated their commitment to keeping the waterway open for commercial shipping, easing geopolitical worries.
- The US dollar could gain if the peace talks continue to face uncertainties.
Technical approach:
- DXY is bouncing from the support at 101.08. The index broke the descending trendline and may head to test the neckline of the potential Double-Bottom pattern. The index is also above both EMAs, indicating a potential resumption of its uptrend.
- If DXY breaks above 101.39, the index may surge toward the immediate resistance at 101.70.
- On the contrary, staying below 101.39 may prompt a reset of the descending trendline.
Analysis by: Quoc Dat Tong, Senior Financial Markets Strategist at Exness
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.