On the Wings of a Dove – Gold Hits New Record Highs
Gold surged to fresh all-time highs today as dovish comments from Federal Reserve Bank Chairman Jerome Powell on Friday led to more pressure on the US dollar.
Friday 1st Dec 2023: Technical Outlook and Review
The chart for DXY (US Dollar Index) displays a bullish overall momentum. Potential price action suggests a bullish bounce off the 1st support.
Thursday 30th November 2023: Technical Outlook and Review
The DXY (US Dollar Index), the overall momentum of the chart is bearish, suggesting a potential download movement in price. In this scenario could potentially make a Bearish continuation towards the 1st support.
Wednesday 29th November 2023: Technical Outlook and Review
The DXY (US Dollar Index) could potentially make a Bearish continuation towards the 1st support. The 1st support at 102.30 is identified as a pullback support. This suggests that it's a significant level where buying interest may emerge, providing support for the DXY.
Tuesday 28th November 2023: Technical Outlook and Review
The DXY (US Dollar Index), the overall momentum of the chart is bearish, indicating a downward trend. The price could potentially continue its bearish movement towards the 1st support.
Monday 27th November 2023: Technical Outlook and Review
The DXY (Dollar Index), the overall momentum of the chart is weak bullish with low confidence, suggesting a tentative upward bias. There's a potential scenario where price could experience a bullish bounce off the 1st support and head towards the 1st resistance.
Wednesday 22nd November 2023: Technical Outlook and Review
The DXY (US Dollar Index) chart currently indicates a bullish momentum, suggesting a potential bullish continuation towards the first resistance at 103.99.
Tuesday 21st November 2023: Technical Outlook and Review
The DXY (US Dollar Index) chart currently has an overall bearish overall momentum, suggesting the potential for a bearish continuation towards the 1st support.
Monday 20th November 2023: Technical Outlook and Review
The DXY (US Dollar Index) chart currently has a bullish overall momentum, suggesting the potential for a bullish bounce off the 1st support level, with a potential move towards the 1st resistance.
