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DXY: waiting for a breakout

The US$ index closed higher for the week but has failed to breakout from the consolidation pattern it has been trading within for the last 6 weeks. There was some flight to safety movement on the back of US Covid stimulus concern but some positive Vaccine news out of Pfizer on Friday pegged those gains. […]

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US$ drifts lower

The US$ has drifted lower and broken below a recent support trend line but momentum continues to be rather mute for the time being. The index also remains below the recently broken multi-year trend line so watch for any further weakness.

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FX indecision in week of turmoil

Both FX indices have closed with indecision weekly candles in a week that was shaped by a fair bit of turmoil. Turmoil coming from the US Presidential debate, the ongoing US stimulus debate, the US President’s Covid-19 diagnosis and, finally, a mixed US jobs report. Given all of this, it was rather surprising that there […]

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FX Indices: pause or reversal?

It was a good week for the US$ and the index will close with a large bullish weekly candle and back above the recently broken 10-yr support trend line. The question now being: is this a pause or reversal of the recent bearish move? There are a few clues traders can look for when monitoring […]