DXY Rises Above 98 Following Positive GDP Revision
DXY Surges Past 98: The U.S. Dollar Index (DXY) has exceeded the 98 mark due to a positive revision in Q2 GDP data, indicating stronger-than-expected economic growth in the U.S.
Impact on Risk Assets: A rising DXY typically pressures risk assets like cryptocurrencies and equities, suggesting potential volatility ahead as investors may shift towards safer investments.
Potential Market Corrections: The strength of the dollar could lead to tighter global financial conditions, prompting deeper corrections in high-risk assets if the DXY continues to rise.
Focus on Federal Reserve: As markets react to the GDP surprise, attention will be on the Federal Reserve's next actions and the implications of the dollar's strength for global economic dynamics in Q4.
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Technical Analysis for TRX
Technical Sentiment Analysis for TRON (TRX) As of , TRON (TRX) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for TRX stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, TRX is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
TRON (TRX) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.25 | 0.259 | 0.269 | 0.278 | 0.289 | 0.298 | 0.308 |
| Fibonacci | 0.259 | 0.267 | 0.271 | 0.278 | 0.286 | 0.29 | 0.298 |
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