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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Platform]: Under political uncertainty, the US dollar forms bearish momentum below the 50-day moving average." Hope it will be helpful to you! The original content is as follows:
XM Forex APP News--During midday trading on Friday (October 3), the US dollar index fell 0.1% to 97.74, and is expected to record a weekly decline, and this will be the largest single-week decline since July. Judging from the price trend, the index has always struggled to recover the 50-day moving average (98.046), a key technical position that has been the focus of traders' defensiveness this week. Below this price, the momentum of the US dollar index continues to be weak, and downward pressure has become the focus of market attention. If the US dollar index fails to break through the nearby 98.238 and 98.605 resistance levels, the 61.8% retracement level (98.714) will become the key suppression level. From the perspective of downward space, if the US dollar index falls below 97.412, it may trigger a more violent selling, and then fall to the support range of 96.377-96.218. The government shutdown has exacerbated uncertainty, and the release of key data has been interrupted. The US government shutdown has entered its third day. The release of key economic data has fallen into an interruption, and the uncertainty faced by traders continues to rise. The non-farm employment data in September is now unavailable, which leads traders to the above content about "[XM Forex Platform]: Under political uncertainty, the US dollar forms bearish momentum below the 50-day moving average". It was carefully lrisu.cnpiled and edited by the XM Forex editor. I hope it will be helpful to your trading! Thanks for the support!
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