4 factors driving the dollar/ruble higher

June 1, 2015 03:06 PM

1. General U.S. dollar strength

Most straightforwardly, the broad-based strength in the world’s reserve currency has made most other currencies into laggards by default. After last week’s consolidation above the 50-day MA, the U.S. dollar index may be on the cusp of renewing the mid-May rally.

Image source: flickr

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About the Author

Senior Technical Analyst for FaradayResearch. Matt has actively traded various financial instruments including stocks, options, and forex since 2005. Each day, he creates research reports focusing on technical analysis of the forex, equity, and commodity markets. In his research, he utilizes candlestick patterns, classic technical indicators, and Fibonacci analysis to predict market moves. Weller is a Chartered Market Technician (CMT) and a member of the Market Technicians Association.