Technical analysis of USDX for October 5, 2016
October 5, 2016 7:35 amVideo
Latest News
- Analysis of GBP/USD on April 26th. The pound trades on Friday without changes April 26, 2024
- USD/JPY: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- EUR/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: trading plan for the US session on April 26th (analysis of morning deals). The pound attempted, but it didn’t go April 26, 2024
- EUR/USD: trading plan for the US session on April 26th (analysis of morning deals). The euro continues to rise April 26, 2024
- Trading Signals for GOLD (XAU/USD) for April 26-29, 2024: buy above $2,324 and sell below $2,352 (21 SMA – 6/8 Murray) April 26, 2024
- Technical Analysis – AUDUSD set to complete best week of the year April 26, 2024
- Will Apple finally drop its AI hint? – Stock Markets April 26, 2024
- Bitcoin slips as markets pare back Fed rate cuts – Crypto News April 26, 2024
- EUR/USD. April 26th. Bulls continue to advance after the GDP report April 26, 2024
- Can Chinese PMIs solidify the economy’s recovery prospects? – Preview April 26, 2024
- Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- XM’s Lombok Collaboration: Brightening Futures April 26, 2024
- Week Ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- Market Comment – Yen keeps sinking after Bank of Japan decision April 26, 2024
- Fed faces dilemma amid sticky inflation and slowing economy – Preview April 26, 2024
- USD/JPY: trading tips for beginners for European session on April 26 April 26, 2024
- GBP/USD: trading tips for beginners for European session on April 26 April 26, 2024
- EUR/USD: trading tips for beginners for European session on April 26 April 26, 2024
The Dollar index has managed to break above short-term resistance levels and has reached the 96.50 level only to get rejected once again. Important weekly resistance is found at 96.50, so we expect to find it difficult for this level to be broken upwards with only one try.
Red line – upper triangle boundary
Blue line – lower triangle boundary
Black line – horizontal resistance
The Dollar index has broken above the red trend line resistance and is now back testing it. The horizontal black trend line is important and only a daily close above it will be a confirmed bullish signal. Trend remains bullish for the short-term as prices make higher highs and higher lows.
Green line – important trend line support
The weekly candle holds above the important green trend line support but also below the weekly Ichimoku cloud. Price is trading alongside the upward sloping green trend line and as long as it does, bulls will be in control. However another rejection at 96.50 will be a bearish signal.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: