Here's a quick look at how global currencies closed the 2024 summer season
Using monthly technical chart preview screens from the Socrates Platform GridView, we've provided a broad visual of how some of the major currencies have performed on a monthly basis, along with computer-generated trend lines and our proprietary Energy Model oscillator for easy reference. The charts show as of the August, 2024 close.
While much attention is given to the US Dollar due to its reserve status, it is important to keep track of foreign exchange and how major currencies from around the world are performing.
Pay close attention to the trend lines and the Energy Model when studying these markets. When the Energy Model spikes well above its moving average, it is at a higher risk of losing momentum, which could mean a change in direction may be ahead. Remember, a change in direction can just be a short-term move or brief market correction, it does not necessarily mean it is a true change in longer term trend. This is why studying market behavior consistently is necessary.
US Dollar Index | Euro (Adjusted) | British Pound Sterling
Canadian Dollar | Australian Dollar | Swiss Franc
Japanese Yen | Chinese Yuan Renminbi | Hong Kong Dollar
Log in to research these and other global financial markets. Go beyond the charts using the Global Market Watch patterns (monthly, quarterly and yearly in particular) and the Indicating Ranges on a monthly closing basis. See how - or if - price movement aligns with what different technical indicators and computer models are picking up on across various time levels (weekly, monthly, etc). This can help shed light on what might be ahead on both a short and long term basis.
Pro and Enterprise members can go deeper with the Reversal System and Timing Arrays, as they look for potential turning points ahead.
Not a Socrates Platform member yet?
With over 1000 global financial instruments to research, from commodities, bonds, stocks and more, the Socrates Platform allows members to monitor financial market activity from around the world using custom watchlists, indicators, price charts, technical studies, and proprietary computer models (the Reversals, Timing Arrays, Global Market Watch, Indicating Ranges, and the Energy Model).
Click here to compare membership plans, or sign up for Socrates platform today!
