Forex, Stocks, Cryptocurrency Market Overview
|Outside of Europe, the US Dollar was able to enjoy some mild growth throughout the week. The release of the ISM manufacturing PMI, as well as the US employment report, allowed the dollar to be the second-best performing currency of the week. However, looking at the U.S. Dollar Currency Index, the DXY, on the weekly chart, you’d notice that it may be in the process of forming a Double Top bearish reversal chart pattern. It still remains above the daily Ichimoku cloud though. The hardcore resistance is at the 61% Fibonacci retracement level which traces DXY’s downtrend from December 2016 to January 2018.
For more from Invest Diva, click here
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.