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

The dollar index is in a good position to remain bullish

by October 14, 2024
written by October 14, 2024

The dollar index is in a good position to remain bullish

Last week, we saw the dollar index rise to 103.18, a new October high

Dollar index chart analysis

Last week, we saw the dollar index rise to 103.18, a new October high. Friday was marked by consolidation in the 102.80-103.00 range. While we were consolidating, the EMA 50 moving average approached us. This influenced us to see a bullish impulse up to 103.10 levels on Monday at the start of the Asian session. The dollar index continues to maintain above the 103.00 level for the rest of the day.

We do not rule out a pullback to the daily open level where we would test the EMA 50 moving average. There is a good chance that we will see a bullish consolidation in the US session and test this morning’s high. Potential higher targets are 103.10 and 103.20 levels.

 

The index sits at 103.00 in anticipation of a new bullish impulse

For a bearish option, the dollar index would have to close below the EMA 50 moving average and the daily open level. This moves us to a new daily low, and we will be under pressure to start a further pullback. The critical level is 102.80, and a pull below will further strengthen the bearish momentum. Potential lower targets are 102.70 and 102.60 levels. The EMA 200 moving average is far away at the 102.30 level.

On Monday and Tuesday, we don’t have that much significant economic news, but that’s why many geopolitical events could affect the movement of the dollar index. For Wednesday, we highlight the British CPI; forecasts announce a drop in inflation from 2.20% to 1.90%. Thursday is full of important economic news. We are starting from the Eurozone CPI, and a decrease in inflation is forecast here. After that, the European Central Bank will announce the future interest rate at the start of the US session. Expectations are that we could see a reduction in the interest rate from 3.65% to 3.40%. From the US news, we highlight Core Retail Sales, Initial Jobless Claims, the Philadelphia Fed Manufacturing Index, and Retail Sales.

 

The post The dollar index is in a good position to remain bullish appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Oil and Natural Gas: New Targets and Prices for this Week
next post
Biden-Harris admin accused of ‘too little, too late’ to save the people of war-torn, famine-stricken Sudan

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

  • Walgreens to close 1,200 stores over the next three years

    October 15, 2024
  • Disney to pay $10 million to settle FTC complaint over collection of children’s data on YouTube

    September 4, 2025
  • Johnson shuts down House to pressure Schumer as government standstill nears one month

    October 24, 2025
  • Red Lobster cleared to exit Chapter 11 bankruptcy

    September 6, 2024
  • Republican senator calls caucusing with Democrats an ‘interesting hypothetical’

    June 24, 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 (6,628)
  • Investing (634)
  • Stock (946)

Latest Posts

  • Costco and Teamsters reach tentative contract agreement, avoid strike

    February 2, 2025
  • Giorgio Armani group names longtime executive Giuseppe Marsocci as CEO

    October 17, 2025
  • Biden aides considered ‘undemocratic’ actions to keep cognitive decline hidden, Trump out of power: author

    May 27, 2025

Recent Posts

  • State Department denies lack of planning for withdrawal laid out in GOP-led Afghanistan report

    September 9, 2024
  • Trump revokes security clearances of 51 intel officials who signed discredited Hunter Biden laptop letter

    January 21, 2025
  • EU preparing 19th round of Russia sanctions as Zelenskyy meets Trump

    August 18, 2025

Editor’s Pick

  • Meet the team Trump picked to negotiate ending the Russia-Ukraine war

    February 17, 2025
  • Voice of America restored by judge after Trump dismantled taxpayer-funded outlet in March

    April 23, 2025
  • CRO price jumps 14% as Crypto.com seals crypto ETF deal with Trump Media

    April 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