Technical Analysis of Intraday Price Movement of United States Dollar Index, Tuesday March 07 2023.
March 7, 2023 5:22 am
There is a few interesting things on the USDX 4 hour chart :
1. Bearish 123 pattern followed by the appearance of Ross Hook (RH).
2. Move inside the downside channel.
3. Move under the EMA 10.
From those three things abobe seems like #USDX will continue the downside until if it manages to break below level 104,06. If this level successfully broken then #USDX has the potential to go downside up to the level 103,73 as the main target and the level 103,50 as the next target to be addressed as long as there is no upward correction passing through the level 104,97 because if this level successfully broken above then all the downward scenario that has been described before will cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
There is a few interesting things on the USDX 4 hour chart :
1. Bearish 123 pattern followed by the appearance of Ross Hook (RH).
2. Move inside the downside channel.
3. Move under the EMA 10.
From those three things abobe seems like #USDX will continue the downside until if it manages to break below level 104,06. If this level successfully broken then #USDX has the potential to go downside up to the level 103,73 as the main target and the level 103,50 as the next target to be addressed as long as there is no upward correction passing through the level 104,97 because if this level successfully broken above then all the downward scenario that has been described before will cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: