On Monday (April 26), the data released by the United States were mixed:

The monthly rate of durable goods orders in the United States recorded 0.5% in March, with an expected 2.5%, compared with the previous value of-1.2%. The monthly rate of aircraft non-defense capital durable goods orders in the United States recorded 0.9% in March, with an expected 1.5%. It is disappointing that the figures did not rebound as strongly as expected. The Dallas Fed Business activity Index recorded 373 in April, the highest level since January 1, 2006, with an expectation of 30 and a previous value of 28.9.

In response, the Dallas Fed said the Dallas Fed manufacturing output index, a key measure of manufacturing, fell 14:00 in April to 34.0, still well above average, indicating strong output growth. Other indicators of manufacturing activity also showed strong economic growth this month, with demand, labour, prices and wages all hitting record highs.

Us President Joe Biden will elaborate on a large-scale tax increase plan to Congress; the Federal Reserve will release interest rate resolutions and decision statements; Federal Reserve Chairman Powell will hold a press conference; data such as the initial annualized quarterly rate of actual GDP in the United States in the first quarter and the annualized rate of core PCE price index in the first quarter of the United States will be released; and the annualized rate of core PCE price index in the United States in March will be released. In addition to the United States, the euro zone will also release important data such as the initial annual rate of GDP in the first quarter and CPI in April this week.

The attention and intensity of this week's blockbuster events are rare and may have a huge impact on financial markets. Whether the dollar can reverse the decline of nearly a month, the answer may not be known until this Friday!

The dollar index, (DXY), reversed its decline again on Friday, following a trend line from its high at the end of March. Prices are difficult to compete with current trends, but prices are expected to rebound on the way back, even if the short-term trend is the beginning of a long-term decline.

The first important area of concern is around 91.30, a level that has been on the chart for nearly two months. That level served as a resistance point in early March, then quickly turned into support, and then turned into resistance again last week. Last Wednesday and Thursday, we saw the dollar index rise from this current level of concern and fail. Prices rise from here and are tested again, which may provide another reliable risk / reward portal for potential bears. A rise in the closing price above the 91.42 level will give people reason to give up bearish tendencies.

Given the weak overall trend, rising resistance may not necessarily guarantee a bullish trend, but a neutral trend may be prudent-watching whether resistance levels turn into support. The overall situation is not good for the dollar, so even if the price rebound breaks through resistance, it may eventually prove to be temporary.

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