Trading Plan for US Dollar Index for July 30, 2018
July 30, 2018 2:21 pmVideo
Latest News
- Hot forecast for EUR/USD on May 3, 2024 May 3, 2024
- Key events on May 3: fundamental analysis for beginners May 3, 2024
- Trading plan for GBP/USD on May 3. Simple tips for beginners May 3, 2024
- Trading plan for EUR/USD on May 3. Simple tips for beginners May 3, 2024
- Forecast for EUR/USD on May 3, 2024 May 3, 2024
- Forecast for GBP/USD on May 3, 2024 May 3, 2024
- Forecast for USD/JPY on May 3, 2024 May 3, 2024
- The euro did not understand the Fed’s signals May 3, 2024
- Analysis of GBP/USD pair on May 2nd. The final chord for the dollar May 2, 2024
- Analysis of EUR/USD pair on May 2nd. The market calmly responded to the FOMC meeting May 2, 2024
- Technical Analysis – GBPJPY returns to pre-intervention levels May 2, 2024
- JPY terrifies traders May 2, 2024
- Fed makes tough decision May 2, 2024
- USD/JPY: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- GBP/USD: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- EUR/USD: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- GBP/USD: trading plan for the US session on May 2nd (analysis of morning deals). The pound was pushed below 1.2521 May 2, 2024
- EUR/USD: trading plan for the US session on May 2nd (analysis of morning deals). Euro bought around 1.0700 May 2, 2024
- EUR/USD. May 2nd. US statistics disappoint once again May 2, 2024
- Technical Analysis – EURUSD capped by 20-day SMA as rebound falters May 2, 2024
Technical outlook:
The US Dollar Index has dropped to a potential support level now, around 94.40/50 levels. Please note that the corrective drop has reached the 50% retracement of the previous rally from 94.10 through 94.90 levels respectively. Also looking at the overall wave structure, the US Dollar Index looks to be carving out its final wave (5) on a larger time frame, as a potential ending diagonal (not shown here). If the above wave count holds to be true, the US Dollar Index should be looking to rally from here and reach above 96.00 levels before turning lower sharply. Please note that the last leg rally would be a thrust rally and push prices very quickly to new highs.
Trading plan:
Remain long with a tight stop below 94.00 and targeting 96.10
Fundamental outlook:
There are no major events left for the rest of the day.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: