Technical Analysis of Daily Price Movement of United States Dollar Currency index, Monday March 27 2023.
March 27, 2023 5:23 am
If we look on the daily chart of USD index, then there will be a few interesting things:
1. There is a deviation between price movement with Awesome Oscillator indicator.
2. The form of Bearish 123 Pattern followed by the appearance of Ross Hook (RH).
Based on those things mentioned above, seems like the US Dollar Index in a few days ahead will try to breaks below the level 101,89 and if successfully broken below then #USDX has the potential to continue its weakness to the level 101,03 as the main target and area level 99,92-98,71 as the second target with the notes that if on its way to the level target mentioned before there is no upward correction passed throig the level 105,87, because if this level successfully broken above then all the downward scenario descreibed earlier will cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
If we look on the daily chart of USD index, then there will be a few interesting things:
1. There is a deviation between price movement with Awesome Oscillator indicator.
2. The form of Bearish 123 Pattern followed by the appearance of Ross Hook (RH).
Based on those things mentioned above, seems like the US Dollar Index in a few days ahead will try to breaks below the level 101,89 and if successfully broken below then #USDX has the potential to continue its weakness to the level 101,03 as the main target and area level 99,92-98,71 as the second target with the notes that if on its way to the level target mentioned before there is no upward correction passed throig the level 105,87, because if this level successfully broken above then all the downward scenario descreibed earlier will cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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