Market news
02.11.2022, 12:22

USD Index: Only a break below 109.30/00 would mean a deeper downtrend – SocGen

US Dollar Index (DXY) adds to Tuesday’s retracement and returns to the low-111.00s. Only a dip under 109.30/00 would open up room for further losses, economists at Société Générale report.

July peak at 109.30/109.00 is crucial support

“Daily RSI is still defending the lower end of its bullish territory denoting prevalence of upward momentum.”

“July peak at 109.30/109.00 is a crucial support near term; only a break below would mean a deeper downtrend.”

“A rebound is not ruled out towards 112.80 and October high of 113.50/113.90. Reclaiming this is essential to affirm next leg of uptrend.”

 

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Feedback
Live Chat E-mail
Up
Choose your language / location
Click Subscribe to receive notifications about promotions and bonuses