{"id":166707,"date":"2020-03-17T13:44:09","date_gmt":"2020-03-17T17:44:09","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=166707"},"modified":"2020-03-17T13:44:09","modified_gmt":"2020-03-17T17:44:09","slug":"us-index-looks-undervalued","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/03\/us-index-looks-undervalued\/","title":{"rendered":"US Index Looks Undervalued"},"content":{"rendered":"
March 17, 2020<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

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Recent developments saw the\u00a0Fed slashing rates further<\/a>\u00a0while pledging to increase its bond holdings by $700 billion.<\/p>\n

The King Dollar fell at the start of the recent financial turmoil. After peaking up to just shy off the triple-digit mark, it nosedived to 95.30 in two weeks of trading.<\/p>\n

It ended up forming a bottom and started a surge that turned into a massive rally since then.<\/p>\n

Technically, the above chart shows an ascending channel with the bottom residing on March 11 low of 96.60. The top extended slightly higher to the 100.00 round level.<\/p>\n

We end up witnessing a false break under the base of the channel on the daily chart (see highlighted area); and we are tracking (96.60).<\/p>

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As seen on the 8H chart below, price managed to pull back furiously and headed the march higher.<\/p>\n

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With the daily close above the 98.00 handle, the index is poised to carry on towards the 100.00 mark and slightly higher.<\/p>\n

The next resistance of importance comes at 99.25. A meaningful close above would place the 100.00 level mark at a striking distance.<\/p>\n

Notice the trend line emphasizing the 99.25-30 region.<\/p>\n

By <\/strong>Orbex<\/strong><\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex Recent developments saw the\u00a0Fed slashing rates further\u00a0while pledging to increase its bond holdings by $700 billion. The King Dollar fell at the start of the recent financial turmoil. After peaking up to just shy off the triple-digit mark, it nosedived to 95.30 in two weeks of trading. It ended up forming a bottom […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-166707","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166707","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=166707"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166707\/revisions"}],"predecessor-version":[{"id":166722,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166707\/revisions\/166722"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=166707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=166707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=166707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}