Technical Analysis of Daily Price Movement of United States Dollar Currency Index, Tuesday May 23, 2023.
May 23, 2023 4:23 am
It can be seen on the daily chart that the United States Dollar currency index is moving bull where even though the Stochastic Oscillator indicator is at the Overbought level, the price movement is still above the EMA 10 so that in the next few days there is potential for a correction down to the 102.72 level. If this level is strong restraining the downward correction rate and as long as it does not pass below the 101.91 level, USDX still has the potential to rally again and fly up to the 103.82 level as the main target and the 104.64 level as the second target.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
It can be seen on the daily chart that the United States Dollar currency index is moving bull where even though the Stochastic Oscillator indicator is at the Overbought level, the price movement is still above the EMA 10 so that in the next few days there is potential for a correction down to the 102.72 level. If this level is strong restraining the downward correction rate and as long as it does not pass below the 101.91 level, USDX still has the potential to rally again and fly up to the 103.82 level as the main target and the 104.64 level as the second target.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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