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

The dollar index is trying to maintain above 104.20 level

by July 24, 2024
written by July 24, 2024

The dollar index is trying to maintain above 104.20 level

During this morning’s Asian trading session, the dollar index rose to 104.55.

Dollar index chart analysis

During this morning’s Asian trading session, the dollar index rose to 104.55. We stayed there for a short time because a pullback to 104.30 was initiated. At this level, it is possible that we will receive support and thus initiate a return to the bullish side. The current pressure is the EMA 200 moving average. This could influence us to see a pullback of the index to 104.20, this week’s support.

If the pressure on the dollar index continues in that zone, a drop below is inevitable. This shows us that the next move is to a new lower low, which extends the bearish option. Potential lower targets are 104.10 and 104.00 levels. Last week’s lowest dollar index value was at the 103.65 level.

 

Expectations are that the dollar will visit the 104.00 level before starting a new recovery.

For a bullish option, we need a positive consolidation and a return above the 104.40 level, which brings us back above the EMA 200 moving average. Then, we need to stabilize there above and wait for the next impulse to start a bullish scenario. Higher potential targets are the 104.60 and 104.70 levels.

At the beginning of today’s US session, data on Building Permits was published. The data showed better figures than the forecast. We’ll have new economic news later: S&P Global US Manufacturing PMI, S&P Global Services PMI, New Home Sales, and Crude Oil Inventories. Also, the Bank of Canada will announce the future interest rate. Economists predict the bank could reduce the interest rate from 4.75% to 4.50%. Tomorrow’s key data for the dollar index will be released: US GDP. Expectations are that there could be a drop in GDP in the second quarter.

 

The post The dollar index is trying to maintain above 104.20 level appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Oil and natural gas: the price of oil recovered this morning
next post
Kamala rides tsunami of positive press, but skeptics see a risky choice

related articles

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Oil Prices Rebound After Trump’s Criticism of Powell

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

Bitcoin Rebounds to $83,404 Amid Renewed Investor Confidence

April 21, 2025

Memecoins, AI, and DeFi Tokens Lead Crypto Rebound

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

  • EURGBP and EURCHF: EURCHF continues with pullback

    August 22, 2024
  • Gabbard says Comey should be ‘put behind bars’ after picture allegedly ‘issuing a call to assassinate’ Trump

    May 16, 2025
  • Four plead guilty in massive bribery scheme at agency Democrats fought to protect from DOGE

    June 20, 2025
  • VP Harris releasing detailed medical report, challenging Trump to do the same

    October 12, 2024
  • Republican bill would put ‘anarchist jurisdictions’ on notice, threaten federal funding

    July 21, 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 (5,602)
  • Investing (634)
  • Stock (867)

Latest Posts

  • ‘Greater reckoning’: Obama’s spot in the Democratic sun fading after Harris loss

    December 27, 2024
  • Energy expert weighs in on 23 state attorneys general suing EPA over new methane emissions fee

    January 17, 2025
  • ‘Utter disaster’: Lindsey Graham calls for Zelenskyy resignation after White House throwdown

    February 28, 2025

Recent Posts

  • DAVID MARCUS: Calling Rep. Sarah McBride ‘mister’ isn’t impolite, it’s just reality

    March 12, 2025
  • Longtime Joe Biden aide appears under House subpoena after Jill’s ‘work husband’ pleads Fifth

    July 18, 2025
  • Biden announces cease-fire plan between Israel and Hezbollah ending 14 months of fighting

    November 26, 2024

Editor’s Pick

  • Google loses antitrust case over search

    August 7, 2024
  • Infineon to slash 1,400 jobs globally and move 1,400 roles in major cost-cutting move

    August 5, 2024
  • How have UK stocks historically performed after BOE rate cuts?

    August 1, 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