Ichimoku indicator analysis of USDX for May 17, 2017
May 17, 2017 7:33 amVideo
Latest News
- 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
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
The Dollar index remains in a bearish trend breaking to new lows as each level of support we mentioned failed to hold. Price is now heading towards our second target of 97.50-97.
A few days back I mentioned that the USDX should bounce from 99 otherwise we will see 98.50 being tested and most probably broken. The bearish scenario came through and support at 98.50 failed to hold. Price is now making new lows. Trend is bearish. Bulls did not manage to reverse the trend and break resistance.
Red line – resistance
Green line – long-term trend line support
As mentioned earlier this week the weekly candle could manage to get back above the long-term green trend line support and got rejected. A move towards the weekly Kumo at 97 was expected. This is now what we get. Price is now testing the upper cloud boundary at 97.50-97. This is strong weekly support.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: