Created
: 2024.08.27
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
DXY: Consolidation on the cards - OCBC
Breaking news
DXY: Consolidation on the cards - OCBC
2024.08.27 19:45
2024.08.27 19:45
The US Dollar (USD) sell-off shows signs of stabilising as Jackson hole excitement comes to pass, OCBC FX strategists Frances Cheung and Christopher Wong note.
Clean break of 100.60 puts 99.60 in focus
"This week, 2Q GDP (Thu) and core PCE (Fri) will be the highlight. Firmer print may potentially slow USD's bearish momentum, but another underwhelming print should re-expose USD to further downside. That said, month-end flows, geopolitical risks may potentially distort price action."
"DXY was last at 100.87. Bearish momentum on daily chart intact while RSI is near oversold conditions. Not ruling out the risk of short squeeze but bias to fade rallies. Death cross observed as 50DMA cuts 200DMA to the downside. Support here at 100.60 levels. Clean break puts 99.60 in focus."
"Resistance at 101, 101.50 and 102.20 (23.6% fibo retracement of 2023 high to 2024 low)."
Last updated
: 2024.08.27
Related articles
NZD/USD Price Analysis: Neutral outlook as bulls and bear fight for the lead
2024.09.21 07:07NZD/JPY Price Analysis: Bullish momentum remains, indicators gather strength
2024.09.21 06:38USD/JPY Price Forecast: Records back-to-back days of gains, stays below 144.00
2024.09.21 05:39Australian Dollar declines as USD recovers
2024.09.21 05:17Canadian Dollar flattens on tepid Friday
2024.09.21 04:37US Dollar rises as sellers take a breather, political jitters
2024.09.21 03:19
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
NZD/USD Price Analysis: Neutral outlook as bulls and bear fight for the lead
The NZD/USD traded mostly flat on Friday's session and failed to hold gain which took it to a high around 0.6260 as it then retreated to 0.6240.
New
2024.09.21 07:07NZD/JPY Price Analysis: Bullish momentum remains, indicators gather strength
In Friday's session, the NZD/JPY continued its climb, propelled by a 0.90% rise to 89.80.
New
2024.09.21 06:38USD/JPY Price Forecast: Records back-to-back days of gains, stays below 144.00
The USD/JPY registers gain for back-to-back days, yet it remains shy of decisively cracking the 144.00 figure despite registering a weekly high of 144.49.
New
2024.09.21 05:39Australian Dollar declines as USD recovers
The AUD/USD declined by 0.40% to 0.6790 in Friday's session, pressured by growing expectations of interest rate cuts by the Federal Reserve (Fed).
New
2024.09.21 05:17Gold skyrockets to record-high above $2,600 on Fed rate cut speculation
Gold prices climbed past $2,600, recording new all-time highs amid increasing speculation that the Federal Reserve will continue to lower borrowing costs and heightened tensions between Israel and Hezbollah in the Middle East.
New
2024.09.21 05:07Canadian Dollar flattens on tepid Friday
The Canadian Dollar (CAD) found little underpinning momentum on Friday, and the CAD is poised to wrap up the end of the trading week close to where it started.
New
2024.09.21 04:37US Dollar rises as sellers take a breather, political jitters
The US economy is experiencing a moderate slowdown, but indicators suggest that economic activity remains robust overall.
New
2024.09.21 03:19Dow Jones Industrial Average squeezes higher on Friday
The Dow Jones Industrial Average (DJIA) edged back into the top end during the Friday market session, keeping bids north of 42,000 and sticking close to this week's all-time record peaks.
New
2024.09.21 03:18Mexican Peso extends losing streak amid risk aversion
The Mexican Peso extended its losing streak against the Greenback to three consecutive days, with the currency set to sustain weekly losses.
New
2024.09.21 02:57Fed's Bowman: Would have liked a smaller first cut
Federal Reserve (Fed) Board of Governors member Michelle Bowman clarified on Friday why the policymaker voted against the Fed's 50 bps jumbo rate cut this week.
New
2024.09.21 02:34Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
