In June, the dollar can update highs
May 17, 2019 11:21 amVideo
Latest News
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
- Analysis for EUR/USD pair on April 18th. Dull ending to a dull week April 18, 2024
- USD/JPY: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- EUR/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: trading plan for the US session on April 18th (analysis of morning deals) April 18, 2024
- Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray) April 18, 2024
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
- Technical Analysis – GBPUSD tries to recoup some losses April 18, 2024
- USD/JPY in crisis April 18, 2024
- EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686 April 18, 2024
- Fed to keep policy tight for longer than markets view April 18, 2024
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
Thursday was marked by the strengthening of the greenback to all major currencies. Yesterday, the dollar reached its highest value since May 3 – 97.8 points. Today, the USD index continues to trade near the 2-week high.
The American currency was supported by the April release of the real estate market and the weekly report on applications for unemployment benefits, which showed that the US labor market is still in very good shape.
Yesterday, the yield on 10-year-old treasuries fell to a 2-month low of 2.354%, but after the publication of strong data, it jumped to 2.387%, which also supported the US currency.
Bill Sarubbi, an expert with more than 50 years of experience in financial markets, said that, in June the dollar may reach new highs.
His prediction is based on the theory of cycles.
“After the April high, the weekly cycle turned down. Therefore, then, after breaking through the level of 98.2 points, the rally did not take place. Now the weekly “bearish” cycle ends, but the monthly cycle enters the negative phase. Weekly and monthly cycles will go against each other until the end of May. Probably, until June, the USD index will be in the range of 96.6-97.8. Cycles are synchronized in June. At the beginning of the first month of summer, the dollar correction is likely to follow, which will end between June 8 and 12. At this moment, a solid foundation will be formed. As a result, by the end of June, the USD index is expected to grow to 100 points, “said B. Sarubbi.
The last time the dollar index touched this mark was in April 2017.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: