Market news
27.11.2022, 22:04

US Dollar is firm in a risk-off start to the week

  • US Dollar bulls move in at the start of the week.
  • Risk-off themes with China Covid dominates.

The US Dollar moved higher across the board on Friday in what was otherwise a quiet session following the US Thanksgiving holiday.

However, the greenback remained near multi-month lows on the prospect of the Federal Reserve moderating the pace of its policy tightening. With that being said, a risk-off start to the week could come of the protests in China and support the safe havens such as the US Dollar, yen and Treasuries.  

Large violent, anti-government anti-lockdown protests have broken out in major Chinese cities. The BBC wrote that videos posted on social media appear to show hundreds of Wuhan residents taking to the streets, with some protesters pictured knocking down barricades and smashing metal gates. 

US Dollar technical analysis

On the back side of the bullish trend, this price is making tracks to the downside. However, for the open, a bid in the US Dolar would be expected to see a deeper correction up the Fibonacci scale as follows:

In doing so, the price could be expected to move in towards 106.50 on a break of resistance as per the following hourly chart:

© 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.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location