Latest news with #USdollarIndex
Globe and Mail
10-04-2025
- Business
- Globe and Mail
USDCAD Completes A Correction Within An Uptrend
The USD/CAD came nicely to the downside last week out of a bearish triangle that was placed in wave B. But then the market made a sharp reversal; We see a strong and interesting rebound away from the 1.40 region, which raises the possibility that a low is in place, especially as price already recovered above the 1.4230 level, where an overlap invalidated any higher-degree bearish impulsive interpretation. That's a strong indication that a bottom may be forming and that we should be aware of more upside after the current intraday retracement which can be close to a support. So from a minimum perspective, we expect at least one more leg up to around 1.44. The reason why USDCAD can stay in the uptrend is because of bearish Crude oil, which can keep Canadian dollar weak. If we also consider a bigger corrective recovery for the USdollar Index, then USDCAD can be easily headed higher. For a detailed view and more analysis like this, you may want to watch below our latest recording of a live webinar streamed on April 07 2025.
Globe and Mail
26-03-2025
- Business
- Globe and Mail
USDollar Index Could Stay In The Downtrend
Hello traders! We talked about bearish USdollar Index already back on March 05, when we mentioned and highlighted that much more weakness is coming due to a recovery on 10Y US Notes. CLICK HERE USDollar is weak, and it may stay so for a while as USDollar Index is in an impulsive decline, so it could easily stay in the downtrend, especially if we take a look at the ratio charts of USDollar Index against 10Y US Notes (DXY/ZN) and SP500 (DXY/SPX). DXY/ZN (USDollar Index against 10Y US Notes) ratio chart shows an ongoing five-wave bearish impulse with room for more weakness within subwave 'v' of 3 after current subwave 'iv' pullback, which can keep USDollar under bearish pressure. On the other hand, DXY/SPX (USDollar Index against SP500) ratio chart shows a sideways consolidation due to weak stocks in the last couple of weeks, but it can be forming a bearish ABCDE triangle pattern, where we are observing a three-wave abc decline within wave D. And, while subwave 'c' of D has space for more weakness, it means that USdollar can stay down even against weak stocks. All that being said, seems like USdollar will stay one of the weakest currencies, and USdollar Index should see a bearish continuation after current recovery. For a detailed view and more analysis like this, you may want to watch below our latest recording of a live webinar streamed on March 25 2025:
Globe and Mail
05-03-2025
- Business
- Globe and Mail
Ratio Chart Of U.S. Dollar Index Against 10Y U.S. Notes Is Pointing Much Lower
10Y US Notes is in the recovery mode, while US yields are turning lower and that's why we see USdollar Index - DXY with a bearish price action and there's room for more weakness if we take a look at DXY/ZN Ratio Chart (USDollar Index against 10Y US Notes). As you can see below, DXY/ZN Ratio Chart is making a larger (A)(B)(C) zig-zag correction and after recent three-wave ABC corrective recovery in wave (B), it's now in free fall for wave (C) that can drop the price all the way back to 2023 lows, so USDollar and US yields could easily stay under bearish pressure, while 10Y US Notes can stay on the rise. For a detailed view and more analysis like this, you may want to watch below our latest recording of a live webinar streamed on March 03 2025:
