This information is made available for informational purposes only. Information presented by FXP should be construed as market commentary, merely observing economical, political and market conditions. residents or individuals domiciled in the U.S. Any and all information provided by FXP is not intended for use by U.S. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.įX Publications Inc., abbreviated herein as FXP, (d.b.a DailyFX) is no longer a registered Introducing Broker with the Commodity Futures Trading Commission and is no longer a Member of the National Futures Association in the U.S. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. To contact Daniel, follow him on Twitter: provides forex news and technical analysis on the trends that influence the global currency markets. Written by Daniel Dubrovsky, Senior Strategist for Clearing immediate support at 34.49 exposes the May low at 33.99. But, such conviction is lacking at the time of publishing. A breakout above the 20-day SMA could be an early sign that the currency pair is readying to reverse higher. But, prices remain under the 20- and 50-day SMAs, which are maintaining the current downside focus. Following a series of lower lows and lower highs in USD/THB, positive RSI divergence is now present. The US Dollar may also be showing some restraint against the Thai Baht. USD/IDR Daily ChartĬhart Created in TradingView Thai Baht Technical Outlook – Neutral The latter could reinstate the dominant upside focus. Otherwise, a breakout downward opens the door to testing the 100-day SMA. A push upward would expose the current 2022 high at 15768. The pattern itself is typically neutral and what matters more tends to be the direction of the breakout. USD/IDR appears to be consolidating within the boundaries of a Symmetrical Triangle chart formation since late November. The US Dollar may be readying to make a key move against the Indonesian Rupiah. If not, taking out the 55.41 – 55.10 support zone exposes the 61.8% Fibonacci retracement level at 54.236.Ĭhart Created in TradingView Indonesian Rupiah Technical Outlook – Neutral Otherwise, clearing higher opens the door to reversing upward. The latter could reinstate the downside focus. Still, prices remain below the 20-day SMA. Since then, there has been cautious upside follow-through. That was a sign of indecision as divergence emerged. Meanwhile, in early December, the pair left behind a Hammer candlestick. Recent lower lows in USD/PHP have been met with positive RSI divergence as well. The US Dollar may also be readying to reverse against the Philippine Peso. USD/SGD Daily ChartĬhart Created in TradingView Philippine Peso Technical Outlook – Neutral Otherwise, key support is the 1.3409 – 1.3381 range below. Upside follow-through, especially if a close is seen above the 20-day Simple Moving Average (SMA), could open the door to extending gains. Meanwhile, the bullish Morning Star candlestick pattern has emerged. That has been creating positive divergence, which is a sign of fading downside momentum that can at time precedes a turn higher. While USD/SGD has been setting lower lows as of late, RSI has not. The US Dollar may be readying to turn higher against the Singapore Dollar. dollar became an important international reserve currency after the First World War, and displaced the pound sterling as the world's primary reserve currency by the Bretton Woods Agreement towards the end of the Second World War.Get My Guide Singapore Dollar Technical Outlook – Neutral Since 1971, all links to gold have been repealed. From 1934, its equivalence to gold was revised to $35 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. dollar was originally defined under a bimetallic standard of 371.25 grains fine silver or, from 1837, 23.22 grains fine gold, or $20.67 per troy ounce. The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation's central bank. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. The Coinage Act of 1792 introduced the U.S. The United States dollar is the official currency of the United States and several other countries.
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