EUR/USD 1.14239
-0.144%
Gold 3991.24
-0.600%
Oil 83.808
3.014%
USD/JPY 162.526
0.090%
GBP/USD 1.34416
-0.120%
GBP/JPY 218.466
-0.030%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
TSMC (TSM.N) CFO: If market conditions are favorable, we do not rule out issuing bonds to fund capital expenditures.SpaceX (SPCX.O): Plans to conduct the 13th Starship flight test as early as July 23 local time.1. Kyiv suffers its "largest ballistic missile attack to date," leaving 1 dead and 17 injured. 2. Ukrainian military: Ukrainian forces hit two Russian oil tankers in the Black Sea. 3. Ukrainian Air Force: Shot down 18 of the 41 missiles launched by Russia overnight. 4. Zelensky: Kyiv forces attacked three oil depots and a fuel facility in Russias Stavropol region. 5. According to RIA Novosti: The Russian Ministry of Defense stated that Russian forces have taken control of Verny in eastern Ukraine. 6. According to Ukrainian authorities, on July 19, a civilian cargo ship carrying grain was attacked by Russian missiles in the Black Sea, resulting in 5 deaths and 5 missing persons.U.S. 10-year Treasury futures fell 6 points, and U.S. 30-year Treasury futures fell 10 points.July 20th - According to South Korean media reports, SK Group Chairman Chey Tae-won stated that SK Hynix is currently searching for a location in the United States to build a chip factory, aiming to increase supply capacity and curb prices, given that demand for memory chips far exceeds supply. As a major player in the industry, he believes the current price level is excessively high and an "abnormal" phenomenon. Chey Tae-won stated, "I believe we need to build (a chip factory) not only in Gwangju and Jeolla Province, but also in the United States." "If conditions permit, I think it should be built. This involves trade pressures and other factors that need to be weighed, so we are considering this."

Price Analysis of the US Dollar Index: DXY Retreats from 104.00, Rising Wedge Anticipated

Alina Haynes

May 12, 2022 10:27

During Thursday's Asian session, the US Dollar Index (DXY) fails to continue the previous two days' upward momentum, trading on the defensive around 103.95.

 

In doing so, the dollar index remains near the 20-year high reached earlier in the week, but for the first time in three days, the daily decline is recorded.

 

In addition to highlighting a 12-day-old rising wedge bearish pattern surrounding the multi-day top, the DXY's most recent decline also reveals a multi-day top-adjacent rising wedge formation. The slow RSI also highlights the significance of the chart pattern.

 

However, a decisive breach below 102.90 is required to validate the potential decline to 101.30.

 

During the fall, the 100-SMA and monthly low between 102.65 and 102.35 will serve as intermediate stops.

 

Until the quote continues below the indicated wedge's resistance line, approximately 104.30 as of press time, a recovery appears elusive.

 

After that, a slow climb to the September 2002 high of 109.80 cannot be ruled out.

Four-hour DXY chart

 image.png

Suggestion