Home Forex News The Dollar Was Flat on Wednesday Morning

The Dollar Was Flat on Wednesday Morning

181
0

The dollar was flat on Wednesday morning, with the safe-haven asset slowly recovering heavy losses from the previous session over the uncertainty surrounding the latest stimulus measures and, in turn, U.S. economic recovery from COVID-19.

The ongoing impact from the U.S. Federal Reserve’s stimulus programs saw U.S. stock indexes soar to record highs and continues to put pressure on the dollar. The Fed’s intervention in the financial markets to increase liquidity also reduced demand for safe-have assets whilst increasing the appeal of risk assets, despite a bleak picture being painted for the U.S. economic recovery.

TREND : BULLISH

Time                                      :           19/08/2020

Pivot                                      :           1.1926

Technical View                     :             LONG ABOVE 1.1946

Target                                   :            1.1966, 1.1985, 1.2015

Technical View                     :             SHORT BELOW 1.1906

Target                                   :            1.1886, 1.1871, 1.1837

LEAVE A REPLY

Please enter your comment!
Please enter your name here