Greatest Sale of South African Rand
The South African rand has dropped against the US dollar. What are the reasons?
The Fed & Delta Variant
2021-07-29 • Updated
4H Chart
Daily Chart
The Federal Reserve decided to keep the current policy unchanged as widely expected, with no additional information about the timing of the tapering. In fact, in this meeting, the Fed mentioned tapering twice only. Still, this should not be a surprise. At the same time, I can say that the entire Fed meeting yesterday can be summarized in one single sentence: “With Delta, the Fed just going to have to watch”. In return, the US Dollar Index continued with its downside retracement in line with our estimates, nearing 92.0 support area, while a break through that support would clear the way for further declines, possibly towards 91.60. It's worth mentioning that the current decline is considered as another short-term retracement before the upside trend resumes. The more they talk about tapering the better it will be for the dollar.
|
S3 |
S2 |
S1 |
Pivot |
R1 |
R2 |
R3 |
|
91.41 |
91.92 |
92.12 |
92.44 |
92.64 |
92.95 |
93.46 |
Similar
Technical outlook and ideas for Forex pairs
We have outlooked several promising Forex pairs and the result can surprise you!
Greatest sell-off of Australian Dollar
The decision of the Australian central bank pressed the aussie down. How to trade it now?
Latest news
September 20-25 Trade Ideas
US stock market corrects, gold recovers and the crypto market drops hard! Best trade opportunities during this week in the article! Let’s check the charts and set some goals! NASDAQ (US100) US100 index plunges as the US dollar strengthens…
Stock Market Drops. Will Correction Continues?
The US broad-market index, S&P 500, has been pressed below the 50-day moving average for the first time since March! Why?
GBP/USD Is Ready for Reverse Up
GBP/USD is moving inside the ascending channel. Since it’s in the lower part of this channel, the pair should reverse up and continue moving in zig-zag.
Deposit with your local payment systems
