Markets Weekly Outlook – Inflation Data & Geopolitics to Dominate

DXY: The DXY (US Dollar Index) chart currently shows an overall bearish momentum, indicating a potential for price to make a bearish continuation towards the 1st support. The 1st support level at 101.87 is identified as a multi-swing-low support. Further below, the 2nd support level at 100.67 is noted as a swing-low support, further reinforcing […]

EURJPY broke pivotal resistance level 163.40 Likely to rise to resistance level 164.35 EURJPY today broke above the pivotal resistance level 163.40 (which stopped the previous waves 3 and (b), as can be seen from the daily EURJPY chart below). The breakout of the resistance level 163.40 continues the active minor impulse wave 5 of […]

EURUSD rebounds off 1.0800 and 200-day SMA Trades within narrow range MACD and RSI lack direction EURUSD is currently moving sideways within a two-week consolidation area with upper boundary the 1.0895 resistance and lower boundary the 1.0800 round number. Looking at the momentum indicators, the RSI is lacking direction slightly above the neutral threshold of 50, suggesting that the […]