The Dollar Index (DX) is trading narrow at 80.15 ranges. with most of the asset classes trading in the narrow ranges especially the benchmark equity index of the Dow Industrials (DJIA) trading tight around the psychological resistance of the 14000 mark. The next leg of Dollar weakness is expected only on DX consistently trading below 78.80 ranges, else it is poised to test 81.00 ranges. The Dollar Index is trading currently at 80.05.
The benchmark equity index of the Dow Industrials (.DJIA) trading narrow at 13988 with 14000 ranges acting as psychological resistance. After closing above the historic congestion of 13400-13500, the benchmark equity index (.DJIA) gained consistently to currently trade at 13988 ranges, with the 14000 mark acting as psychological barrier and 14200 ranges being historic high.
Historic correlation between DX Vs DJIA suggests the long-term trend is still dollar bearish till the Dollar Index is not closing above 84.50 on monthly basis.
Disclaimer: This report contains the views of GFM Research Private Limited. This report should not be construed as investment/trading advice. Due care is taken when gathering the data/information and the data sources are believed to be reliable, though GFM Research Private Limited nor its Group Companies guarantee for the same. Trading/investing in financial markets may result in financial and/or emotional stress, a trader/investor is advised to weigh pros and cons of trading/investing. Further disclaimer will be produced on request.
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FX Daily Report: DX Trading Narrow
Published 02/14/2013, 02:39 AM
Updated 05/14/2017, 06:45 AM
FX Daily Report: DX Trading Narrow
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