Dollar at a Turning Point: Base Building for a Breakout
We believe a longer-term base is developing for the US dollar. At present, the market has reached a key level of resistance — the same level we saw at the end of 2023. While near-term consolidation is possible, the broader picture suggests strength.
Key points:
- The 200-day moving average has been eroded, with three closes above it.
- The monthly chart shows the dollar bouncing off a very long-term uptrend dating back to 2011.
- This structure points to a positive long-term outlook, with dips offering potential buying opportunities.
- The base suggests upside toward approximately 104.
Disclaimer:
This post reflects market observations for educational purposes only. It is not financial advice. Please conduct your own research or consult a licensed professional before making trading or investment decisions.
Key points:
- The 200-day moving average has been eroded, with three closes above it.
- The monthly chart shows the dollar bouncing off a very long-term uptrend dating back to 2011.
- This structure points to a positive long-term outlook, with dips offering potential buying opportunities.
- The base suggests upside toward approximately 104.
Disclaimer:
This post reflects market observations for educational purposes only. It is not financial advice. Please conduct your own research or consult a licensed professional before making trading or investment decisions.
The STA is the oldest technical analysis organisation in the world and to celebrate that fact, we have a free downloadable book on technical analysis here -
technicalanalysts.com
technicalanalysts.com
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The STA is the oldest technical analysis organisation in the world and to celebrate that fact, we have a free downloadable book on technical analysis here -
technicalanalysts.com
technicalanalysts.com
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.