The US dollar is experiencing a modest recovery on Wednesday morning. However, the current rebound still looks driven more by short covering than by a clearly strong wave of spot buying.
The dollar index plunged to a fresh multi-week low on Tuesday as hopes for a diplomatic solution to the Middle East conflict dampened safe-haven demand for the currency. The modest increase was triggered by comments from Chicago Fed President Austan Goolsbee, who suggested that Fed rate cuts may be delayed until 2027, depending on oil price trends. This tempered expectations for rate cuts in 2026, supporting the dollar’s rebound.
Conversely, the recent drop drove the hourly RSI down into the 20s, indicating an oversold condition that typically leads to some stabilization or relief bounce. However, this does not guarantee a bottom. The market may be approaching a temporary pause, but the damage to the structure is evident, with weakening short-term moving averages and neutral-to-bearish oscillator readings signaling potential further declines if bullish momentum is not restored. Fundamentally, if US-Iran tensions continue to ease and oil prices remain stable, this relief rally could lose momentum.
The 4-hour DXY chart offers a more detailed perspective on recent midterm movements. The rebound is marked by limited volume, suggesting a lack of strong conviction so far. Key short-term support is near 97.90, with resistance in the 98.60 to 98.70 range. If the index fails to break above this resistance, it could trigger another downward move toward 97.60, particularly if selling volume intensifies. The 98.60/70 level is crucial, having flipped from support to resistance after the recent decline.
On the other hand, a clear breakout and sustained trading above this zone would indicate that the recent 98.00 area might be a short-term bottom, potentially leading to the next significant upward move in the cycle.
Warning! This material is not intended as investment advice. Past performance data does not guarantee future returns. Investing in foreign currencies may affect your returns due to their fluctuations. Any transaction in securities may result in both profits and losses. The assumptions and expectations set forth in this material are only estimates that may not be accurate and may change depending on current economic conditions. These statements do not guarantee future returns.
多くのトレーダーは、チャートの分析、指標の追跡、ニュースへの反応に時間を費やしています。 しかし、あらゆる大きな価格変動の背後には、テクニカル分析だけではめったに明らかにならない力が潜んでいます。それは、機関投資家の資金による、意図的かつ慎重に管理されたエントリーやエグジットです。ヘッジファンド、投資銀行、あるいは大手資産運用会社が数億ドル規模のポジションを動かす決断を下したとき、市場は単に反応するだけではありません。市場は歪むのです。そして、なぜこのようなことが起こるのか、またそれがどのような痕跡を残すのかを理解することは、トレーダーが学べる最も実用的なことの一つです。
続きを読む →連邦準備制度(FRB)と聞くと、多くの人は連邦公開市場委員会(FOMC)の会合や金利のグラフ、株式市場を動かす記者会見などを思い浮かべるだろう。しかし、資金の価格を監視することは、氷山の一角に過ぎない。 この機関の表層の下には、米国経済だけでなく、世界貿易の安定にも根本的な影響を与える複雑な仕組みが潜んでいる。実際、FRBは金融現実の主要な設計者として機能しており、その決定は市場で資本を配分するすべての人々の環境を形作っている。
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