The era of COVID-19 cheap money is over. Who is afraid of the Fed's tightening cycle? Apparently not stock-market investors.
USD Resistance Remain Solid
2021-08-23 • Updated
The US Dollar Index tried to break above 93.50 at the end of last week trading. However, it failed to do so, declining all the way back on Friday, forming a clear bearish shooting star on the daily chart. Earlier in Asia, the index dropped further to 93.30. In the meantime, this should not be a surprise, especially that the technical indicators are nearing overbought area, while the RSI is still trading below its downtrend line on the daily chart, which keeps the door open for another leg lower, possibly to retest 93.0 – 92.80 area before the uptrend resumes.
What will happen? FOMC press conference is among the primary methods the Fed uses to communicate with investors regarding monetary policy…
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