Dollar breaks out against GBP, EUR, CHF

One of the growing trends of late is the strength of the US Dollar.

Against the Euro, prices have shifted one notch lower. At the time of writing, prices are changing hands near its multi-month lows beneath 1.120 (see Featured Chart). The extends the rate’s long-term downtrend, possible into the major round number level at 1.100.

Versus the Swiss Franc, the rate broke out forcibly this week, above the key psychological level at 1.000 (see below). This clearance of the massive range resistance suggests a period of ‘disequilibrium’. The near-term target is 1.035.

Against Pound Sterling, the rate has slipped beneath 1.300. Thus breaking the triangle pattern to the downside. The next downside target is 1.280.

The question now is why is the greenback so strong. Normally, this currency appreciates when risk aversion is high. With US stocks trading near their record closes, this does not appear to be the case. Perhaps investors are anticipating the US economy to outperform other countries. Whatever the reason, the dollar is moving fast and this trend may last for some time.

Compare Vetted Investing, Trading & Currency Accounts

Investing AccountsTrading PlatformsCurrency Transfers
Compare Investment Accounts

Compare Investment Accounts

Compare Trading Platforms

Compare Trading Platforms

Compare Currency Brokers

Compare Currency Brokers

Investment Advice Disclaimer

ALL INVESTING CONTAIN RISK: The information contained in this website is for informational purposes only and does not constitute financial advice. The material does not contain (and should not be construed as containing) investment advice or an investment recommendation, or, an offer of or solicitation for, a transaction in any financial instrument. Always seeking independent financial advice.