With a loss of upside momentum and its subsequent collapse through a layer of key supports seen EUR testing a low of 1.4827 level the past week before closing higher on Friday at 1.4986, we are now faced with two scenarios. One is the shooting star candle pattern formed on…
Source:EURUSD: Closes Higher On Shooting Star Candle Formation
After lacking direction for several weeks, the dollar fell to new lows against various currencies this week. During the course of the week, EURUSD firmed to 1.5144 temporarily, a 15-month high, only to plummet again towards the end of the week. The Swiss franc breached parity (i.e. the 1:1 level)…
The Swiss franc and the Japanese yen were among the top performing currencies this week after equity and credit markets worldwide plummeted on fears over a possible debt default in Dubai and a sharp decline in Chinese equities. USD/CHF fell to parity and USD/JPY fell below 85.0. GBP ended the…
The DXY does not mirror the United States trade position in the global economy. It is heavily weighted to Europe, undervalues the Canadian Dollar, ignores South Korea Taiwan and by necessity China. A firm cannot settle a trade flow in the DXY nor is it particularly useful as a hedge…
Source:Why the DXY?
