Technical analysis of USDX for October 19, 2017
October 19, 2017 8:23 amVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 19-22, 2024: sell below $2,395 (+2/8 Murray – overbought) April 19, 2024
- USD/JPY: Simple Trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- EUR/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: trading plan for the US session on April 19th (analysis of morning deals). The pound is trying to regain its advantage April 19, 2024
- EUR/USD: trading plan for the US session on April 19th (analysis of morning deals). The euro compensated for the losses April 19, 2024
- Storm in a teacup: EUR/USD analysis April 19, 2024
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
As expected, the US dollar index reversed lower after being rejected at the 61.8% Fibonacci retracement resistance. The entire upward bounce should be in and a lower high is the bearish sign we were expecting.
Blue lines – bullish channel
The Dollar index has broken out and below the bullish channel. This is the first bearish sign. Price got rejected at the 61.8% Fibonacci retracement and is trying to break below Kumo (cloud) support. This is the second bearish sign. The short-term support lies at 93.25. Resistance is at 93.50 and the next one at 93.71.
Black lines – weekly bearish channel
Blue lines – short-term bullish channel
The dollar index remains in a medium-term bearish trend inside the bearish channel. Price got rejected a couple weeks back at the upper channel boundary. However, the price remains inside the short-term bullish channel. A break below 92.50 will confirm our bearish scenario that the next leg down towards 90 has started.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: