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Daily Market Analysis By FXOpen
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[QUOTE="FXOpen Trader, post: 340022, member: 104606"] [B][SIZE=5]A Weak Dollar Is the Driver of Price Records for NASDAQ-100, BTC/USD, XAU/USD[/SIZE][/B] [img]https://i.imgur.com/J8GtHmo.jpeg[/img] Financial market participants expect an easing of the Fed's monetary policy. The prospect of lower rates puts pressure on the value of the dollar, which in turn pushes up dollar-denominated assets. This contributed to the setting of record highs: → The price of BTC/USD exceeded 70k dollars per bitcoin → The price of XAU/USD exceeded USD 2,200 per ounce of gold → The NASDAQ-100 index reached 18,400 points. But are markets too optimistic? Let's see what the technical analysis of the NASDAQ-100 chart shows today: → The price is in an uptrend (shown in blue), which has been in effect since the beginning of the year. The price is in the upper half, which may indicate the strength of demand. → Top C only slightly exceeded the level of the previous top A. It is not surprising that a bearish divergence has formed on the oscillators — Awesome Osc among them. Buyers who entered long positions at the breakout of top A found themselves in a trap. Sellers who held stops above A lost their positions. [img]https://i.imgur.com/33ahsz1.png[/img] [B][URL="https://fxopen.com/blog/en/oa-a-weak-dollar-is-the-driver-of-price-records-for-nasdaq-100-btc-usd-xau-usd/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve"]TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG[/URL][/B] [I][B]Disclaimer:[/B] This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. [/I] [/QUOTE]
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