US Dollar: The Bigger Picture – 30 Oct 2024

Our longer- term bearish stance on the Greenback remains valid and is ongoing. Recent gains have, however indicated that the 18-month-old consolidation phase remains in force, effectively postponing the larger bearish potential. The long-term monthly analysis confirms the respective weekly views. The US presidential election and upcoming FOMC meeting could result in volatility, but this report does not take any fundamental drivers in consideration as a purely technical outlook. Users can overlay and include their own perceptions and analyses.

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This report is for informational purposes only, does not constitute an offer, or solicitation to trade and should not be construed as a recommendation, or advice, to enter into, or to refrain from entering into, any transaction.

Whilst the information herein contained is believed to be reliable, no responsibility is assumed by Hite Investments and Consulting, (Pty) Ltd., their employees, associates, external contributors, or any of the references used, for any errors, or omissions, or for losses of any nature which may arise from any opinion expressed herein.

You are cautioned that information is not necessarily complete and that opinions of individuals employed at the above may differ, or be based on contrary analysis techniques andthat opinions may change over time.

The losses in trading and investing can be substantial and you should not engage in such trading and investing unlessyou fully understand all the potential risks.

The views expressed in this report may change over time and updated reports will not necessarily be issued should this occur.

Red Line: “Roadmap” – A visual representation of proba-ble future price action. A perforated red line suggest various proba-ble outcomes with the perforated line being

Blue Line: Trend Lines that constitute important sup-port / resistance or break levels

TA – Target area
MA – Moving average
R – Resistance
RA – Resistance area
MR – Minor Resistance
MS – Minor Support
MTR – Medium Term Resistance
MTS – Medium Term Support
SA – Support Area
S – Support
T – Target
* or ** – Significance of level

The intention of this analysis is to give the reader a visual picture of the most probable price path that could develop over time. This is enhanced by adding crucial levels where the proposed view becomes dubious and needs to be re-assessed (or confirmed). The benefit of this approach is that of an easy to understand and almost instantaneous grasp of the analysts view. This kind of analysis is not intended to be exact in predicting levels, and especially timing of moves, but to give a more general probability view that is easily understandable and unambiguous. The proposed “roadmap” gets adjusted over time as new price information becomes available. All technical views have re-assessment or negation levels where the proposed preference is no longer valid or needs to be re-assessed.