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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
DOLLAR
USD Index (DXY) Confirms A Reversal Pattern.
- Last week we discussed a potential reversal condition in DXY that suggested sentiment was shifting from bearish to bullish.
- This was highlighted in a possible inverted head and shoulders (H&S) reversal.
- Yesterday's gains cleared the neckline at 93.57, confirming the pattern. Furthermore, the close above the line reinforces the significance of the break.
- The pattern suggests the USD is likely to remain supported near-term.
- Patterns have the advantage of projecting targets. In this case, the pattern targets a move at least to 95.55.
- Key pattern based support lies at 92.70, Sep 10 low. A break of would negate the reversal pattern and force a reassessment of the short-term conditions.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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