Technical Analysis of Daily Price Movement of USD Currency Price Index, Monday August 21, 2023.
August 21, 2023 7:26 am
With the Z-Score indicator above the Moving Average (Black) and price movements above the SuperTrend AI on the daily chart, it gives a pretty strong indication for the USD Index in the next few days to continue its Bull rally, especially if it manages to break above the 103.56 level, so USD The index has the potential to strengthen up to the level of 104.67 if the momentum and volatility are strong enough then the level of 105.66 will be the next target provided that on the way to these levels there is no downward correction to break below the 101.91 level because if this level is successfully broken down then the scenario the described upside rally will be invalid.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
With the Z-Score indicator above the Moving Average (Black) and price movements above the SuperTrend AI on the daily chart, it gives a pretty strong indication for the USD Index in the next few days to continue its Bull rally, especially if it manages to break above the 103.56 level, so USD The index has the potential to strengthen up to the level of 104.67 if the momentum and volatility are strong enough then the level of 105.66 will be the next target provided that on the way to these levels there is no downward correction to break below the 101.91 level because if this level is successfully broken down then the scenario the described upside rally will be invalid.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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