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

The dollar index begins to recover from morning’s support

by August 28, 2024
written by August 28, 2024

The dollar index begins to recover from morning’s support

On Tuesday, the dollar index retreated to a new weekly low at 100.51

Dollar index chart analysis

On Tuesday, the dollar index retreated to a new weekly low at 100.51. During this morning’s Asian trading session, the index initiated a bullish consolidation that is still active. The dollar recovered to 101.00 and received support from the EMA 50 moving average. We are now at 100.95 and expect to stay in this small bullish channel and climb to a new daily high.

If we manage to stabilize above 101.00, it would be a small success that would strengthen the dollar index’s bullish position. This is a crucial moment for the index. After that, further bullish consolidation and the conquest of higher levels remain. Potential higher targets are 101.20 and 101.40 levels. A big test for the index is at 101.40 in the EMA 200 moving average.

 

We have been in a bullish trend since this morning, do we have the strength to continue?

For a bearish option, the dollar index would have to turn to the bearish side and pull below 100.80. This would drop below the EMA 50 moving average and lose its support, increasing the pressure on the index to start a further retreat. In that case, bearish consolidation would bring us below the 100.60 weekly open price. Potential lower targets are the 100.40 and 100.20 levels.

From today’s news, we highlight Crude Oil Inventories. The data will show in which direction crude oil stocks are moving. Tomorrow is an important day for the index because the data on US GDP and Initial Jobless Claims will be published. GDP is expected to increase from 1.4% to 2.8%. If the data is higher than forecast, it will positively affect the dollar index.

 

The post The dollar index begins to recover from morning’s support appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Oil and natural gas: Oil is moving away from the weekly high
next post
NFL owners vote in favor of private equity investment

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

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

  • Sam Altman’s OpenAI backing initiative headed by several anti-Trump staff pushing liberal causes

    January 18, 2025
  • Former USAID official Mark Moyar says ‘corruption’ at agency ‘subverted’ Trump White House

    February 6, 2025
  • Fetterman, McCormick react to ‘astonishing’ Boulder attack on pro-Israel group: ‘Rank antisemitism’

    June 2, 2025
  • Working ‘in tandem’: Republicans prep to make Trump executive orders permanent

    January 22, 2025
  • White House takes interest in proposed Russian sanctions as Ukraine War peace talks drag on

    June 12, 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

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

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

    December 4, 2024
  • 5

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

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,285)
  • Investing (634)
  • Stock (936)

Latest Posts

  • Secret Service Director Cheatle resigns after mounting pressure in wake of Trump assassination attempt

    July 23, 2024
  • Biden asks Congress for $98 billion in Helene, Milton disaster relief funding

    November 18, 2024
  • Harris says what she’s doing is ‘not new,’ but as president she would take a ‘new approach’ in puzzling answer

    October 29, 2024

Recent Posts

  • Solana and Cardano: Solana moves above the weekend high

    August 20, 2024
  • Top Trump ally predicts Senate will blow past ‘big, beautiful bill’ deadline

    June 19, 2025
  • Blinken says Venezuela’s Nicolas Maduro lost election before claiming victory with ‘no supporting evidence’

    August 2, 2024

Editor’s Pick

  • House Democrats threaten shutdown fight to protect Obamacare perks

    September 30, 2025
  • Modern Trade vs General Trade Management

    August 19, 2024
  • Mother of missing Marine veteran calls Trump admin a ‘breath of fresh air’ as she continues 12-year search

    January 22, 2025
  • 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