OctaFX | OctaFX Forex Broker
Open trading account

US Dollar Index Price Analysis: Door open for a visit to 100.00

  • DXY continues to correct lower after failing just below 103.00.
  • The continuation of the leg lower could extend to the 100.00 mark.

DXY remains on the defensive and keeps fading the move to the boundaries of the 103.00 mark, or 3-year highs, recorded earlier in the week.

The index is already flirting with the Fibo retracement (of the 2017-2018 drop) in the mid-100.00s and further decline is expected to test the psychological triple-mark support.

Despite the corrective downside and looking at the broader picture, the positive outlook in the buck remains unchanged as long as the 200-day SMA, today’s at just below 98.00, underpins.

DXY daily chart


ECB's Vasiliauskas: Outright Monetary Transactions is part of the arsenal and could be used

The European Central Bank (ECB) Governing Council member Vitas Vasilauskas is reportedly on the wires now, noting that the central bank’s outright mon
Read more Previous

Gas: Meaningful upside – Rabobank

Natural gas has been one of the most heavily “shorted” commodities over the last twelve months. This “short” position has been reduced somewhat during
Read more Next
Start livechat