Technical analysis of USDX for March 27, 2017
March 27, 2017 7:28 amVideo
Latest News
- Market Comment – Geopolitics and Fedspeak keep stocks under pressure April 17, 2024
- Technical Analysis – USDJPY on the verge of hitting 155.00 milestone April 17, 2024
- Hot forecast for EUR/USD on April 17, 2024 April 17, 2024
- Overview for the GBP/USD pair on April 17th. British inflation could weigh on the pound April 17, 2024
- Technical Analysis – NZDUSD bounces off 5-month low April 17, 2024
- Overview for the EUR/USD pair on April 17th. There is no single reason for the euro to rise April 17, 2024
- Key events on April 17: fundamental analysis for beginners April 17, 2024
- Trading plan for GBP/USD on April 17. Simple tips for beginners April 17, 2024
- Trading plan for EUR/USD on April 17. Simple tips for beginners April 17, 2024
- Technical Analysis of Intraday Price Movement of USD/JPY Main Currency Pairs, Wednesday April 17, 2024. April 17, 2024
- Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Wednesday April 17, 2024. April 17, 2024
- Forecast for EUR/USD on April 17, 2024 April 17, 2024
- Forecast for GBP/USD on April 17, 2024 April 17, 2024
- Forecast for USD/JPY on April 17, 2024 April 17, 2024
- Outlook for EUR/USD on April 17. A boring Monday seamlessly transitioned into a boring Tuesday April 17, 2024
- Will the euro manage to save itself? April 17, 2024
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
Starting the week with Dollar selling pressures and the price below important support breaking down below the neckline support, a bearish signal is confirmed. The trend is bearish. I was expecting a bounce last week but we might see it this week. However, there is no reversal sign.
Blue lines – resistance levels
The first short-term resistance level is at 99.50. The next resistance is at 99.80. Trend is clearly bearish as the price continues to make lower lows and lower highs. The price is below both the tenkan- and kijun-sen in the 4-hour chart. The price needs to break above 99.80 to confirm short-term reversal.
Black line – neckline support
Blue line – trend line resistance
Green line – long-term support
The weekly chart is very bearish. However, it is still start of the week and we should be patient regarding the neckline support. Even if the bounce comes this week, I expect resistance at 101.50 to hold and the price to move lower the next few weeks towards the long-term green trend line support near 98.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: