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2012-Feb-22 09-20 (GMT+02:00) Athens
$Index(DXY)
P&F Chart
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Post time 2012-Feb-21 09-24 (GMT+02:00) Athens
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Post time 2012-Feb-19
(GMT+02:00) Athens |
21-57 |
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Dollar Index Forecast – USDX Analysis 19th February
The dollar has risen versus its major currency counterparts despite a
late week downside correction; this came after the heavily weighted
EUR/USD currency pair rallied almost 200 pips on Thursday along with
cable and other majors.
A correction on the USDX came after price had penetrated the key price
pivot level at the 79.70 area; this had confluence with a 38.2%
Fibonacci retrace of the swing lower from 13/01/2012.
A further corrective move lower could potentially be seen as the long
upside shadow on Thursdays candle, coming at a confluent technical
area, has the look of a swing point. Admittedly this is heavily
dependent on developments in the euro-zone area which should have a
bearing on any dollar forecast in february and possibly beyond.
The USDX gave a modest weekly range of 151 pips which is 94% of the 160 pip 26 week average weekly range.
Potential resistance is seen at the 79.70 price pivot in the first
instance with the 80.00 psychological round number and 50% retrace of
the last swing lower closely aligned on a failure to hold below 79.70.
The 78.35 swing low on 9/2/2012 was held by the highly confluent area
comprising of 38.2 and 50% retraces of prior moves. This level
now has price structure support and we will monitor closely on any
further move to this area for support.
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Post time 2012-Feb-10
(GMT+02:00) Athens |
07-41 |
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The USD moved slighly in an upward trend during Monday
trading, pulling back part of the recent losses. Following the
positive US Non-Farm Payroll report on Friday there appears to be a
stronger sentiment in the US for a move towards improving econonmy for
the coming months.
A general measure of USD performance is the Dollar-Index (DXY)
which increased by 0.35%. The DXY is a market measure of the USD
against a basket of six major currencies.
Leading market analysts and Credit Agricole on friday were quoted as
“The fact that encouraging data releases will not alter the
Federal Reserve’s dovish stance implies U.S. bond yields will
remain compressed, giving no support for the U.S. dollar from higher
U.S. yields for some time yet,”. As a result, on Friday
trading the USD did edge down slightly.... |
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Post
time 2012-Feb-05
(GMT+02:00) Athens |
15-19 |
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Evaluating
the Strength of the Dollar
01/23/2012 | David Joy
A quick glance at the U.S. Dollar (DXY) Index shows that, since the
start of the year, the dollar is fractionally higher. But this index,
which is an often-cited proxy for relative dollar strength, has its
limitations. It is a weighted index of the dollar's value against six
foreign currencies: the euro, yen, pound, Canadian dollar, Swedish
krona, and Swiss franc. The euro alone accounts for over half of the
weighting. Because of the narrow composition of the index, it can
provide an incomplete picture of how the dollar is faring against
excluded currencies, including those of some important investment
destinations for U.S. investors.... |
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