• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Economy

The dollar index could continue to retreat below 104.00

by July 15, 2024
written by July 15, 2024

The dollar index could continue to retreat below 104.00

During the Asian session, the dollar index tried to start a recovery. 

Dollar index chart analysis

During the Asian session, the dollar index tried to start a recovery. We encountered resistance at the 104.30 level. After that, the index started a bearish consolidation and a retreat to 104.05 levels. Here, we are now trying to hold above the weekly open price. Looking at last week’s movement, the dollar is still under pressure to continue its retreat to a new low.

Market Sentiment: in the EU session, we tested last week’s low at 104.03. This could pull the dollar index to a new lower low and thereby extend the bearish scenario. If this happens, it could signal a further decline in the dollar’s value. Potential lower targets are 103.90 and 103.80. That would bring us back to the positions we had in March.

 

The dollar is still in the support zone at the start of this week

For a bullish option, we need a positive consolidation and a jump of the dollar index above the 104.40 level. With support from the EMA 50 moving average we could see a continuation of the recovery and a rise above Friday’s resistance zone. Here it would be good to create a new bottom and stabilize before continuing to the bullish side. Potential higher targets are 104.60 and 104.80 levels.

Fed Chairman Jerome Powell will speak again today at the US session. Tomorrow, from the economic news, we highlight US Core Retail Sales and US Retail Sales. On Wednesday morning, British Inflation, Eurozone Inflation, and Crude Oil Inventories will be key indicators to watch. On Thursday, the ECB will announce the future interest rate. Economists expect that it will remain at a lower level. After that, in the US session, we have the following: Initial Jobless Claims and the Philadelphia Fed Manufacturing Index.

 

The post The dollar index could continue to retreat below 104.00 appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
The price of Bitcoin continued last week’s bullish trend
next post
USDCHF and USDJPY: USDJPY is moving in a support zone

related articles

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Buy Bitcoin Under $100K Before The Next Bull...

April 22, 2025

BNB Price Surge Leads Crypto Gains as Bitcoin...

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

April 21, 2025

Bitcoin Slips to $83.6K Amid Nvidia’s $5.5B Charge

April 21, 2025

Gold Price Surge Hits $3,385 Amid Trade Tensions

April 21, 2025

Memecoins, AI, and DeFi Tokens Lead Crypto Rebound

April 21, 2025

Bitcoin Rebounds to $83,404 Amid Renewed Investor Confidence

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • ‘It just baffles me’: Senate Republicans sound alarm over Medicaid changes, spending in Trump megabill

    June 17, 2025
  • Marjorie Taylor Greene urges Trump to commute George Santos’ federal prison sentence: ‘Far worse offenses’

    August 6, 2025
  • Mossad chief thanks US for help with Iran, says ‘significantly thwarted’ regime threats

    June 26, 2025
  • Democrat rep vows to work with Trump on key part of tariff plan: ‘Hoping that I can help’

    April 3, 2025
  • Sports bar chain Twin Peaks is going public. These restaurant companies are the next to watch.

    January 31, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,247)
  • Investing (634)
  • Stock (935)

Latest Posts

  • USDCHF and USDJPY: USDJPY is using a new support to recover

    September 2, 2024
  • EURGBP and EURCHF: EURGBP has a chance for a recovery

    September 2, 2024
  • Israel’s largest labor union plans massive strike after six hostages’ bodies recovered

    September 1, 2024

Recent Posts

  • As Kamala gets coronated, Chicago gets democracy stress test

    August 24, 2024
  • Hawley says Mayorkas, Wray ‘absolutely’ skipped Senate hearing due to Laken Riley verdict, calls for subpoenas

    November 21, 2024
  • DAVID MARCUS: As Springsteen and De Niro trash America abroad, Kennedy Center thrives

    May 16, 2025

Editor’s Pick

  • Johnny Cash monument unveiled on Capitol Hill: ‘Embodies the American spirit’

    September 24, 2024
  • Dollar stores are struggling to win over bargain hunters — here’s why

    December 4, 2024
  • Biden is clearly in poor health. We deserve an honest and transparent report

    July 19, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock