Over on
the Forex market, the Dollar index continued to trade mixed, around
recent levels. Even though the Dollar weakened during yesterday’s
session, showing signs breakout, the index has retraced since then,
something that could lead to further consolidation. By taking a glance
at the following 4 hour chart one can see that the breakout’s momentum
from the triangle, has now disappeared as the index has retraced to
test its trend line. Please note a lack of movement on stocks, could
send the Dollar index into further range.
the Forex market, the Dollar index continued to trade mixed, around
recent levels. Even though the Dollar weakened during yesterday’s
session, showing signs breakout, the index has retraced since then,
something that could lead to further consolidation. By taking a glance
at the following 4 hour chart one can see that the breakout’s momentum
from the triangle, has now disappeared as the index has retraced to
test its trend line. Please note a lack of movement on stocks, could
send the Dollar index into further range.
On
individual pairs, a volatile session ended up to be a lackluster one as
most of the pairs ended up around previous levels. The GBP/USD
presented a doji candlestick showing that investors are still waiting
for a major event to decide where the currency pairs are headed. For
further chart analyses, feel free to view dodjit’s chart page.
