Technical analysis of USDX for March 30, 2016
March 30, 2016 8:40 amVideo
Latest News
- EUR/USD. May 10th. Traders continue to torment the dollar May 10, 2024
- GBP/USD. May 10th. The British economy was pleasantly surprised May 10, 2024
- USD/JPY: Simple trading tips for novice traders on May 10th (US session) May 10, 2024
- GBP/USD: Simple trading tips for novice traders on May 10th (US session) May 10, 2024
- EUR/USD: Simple trading tips for novice traders for May 10th (US session) May 10, 2024
- GBP/USD: trading plan for the US session on May 10th (analysis of morning deals). The pound hit 1.2535 May 10, 2024
- EUR/USD: trading plan for the US session on May 10th (analysis of morning deals). The euro shows no signs of life May 10, 2024
- Trading Signals for BITCOIN (BTC/USD) for May 10-15, 2024: buy above $62,500 (21 SMA – 4/8 Murray) May 10, 2024
- Video market update for May 10, 2024 May 10, 2024
- Technical Analysis – GBPJPY continues to ascend May 10, 2024
- Technical Analysis – EURUSD retests 200-day SMA near downtrend line May 10, 2024
- Bitcoin finds support from a weaker dollar – Crypto News May 10, 2024
- Weekly Forex Outlook: 10/05/2024 – US inflation numbers to shake Fed rate cut bets May 10, 2024
- Forex forecast 05/10/2024: EUR/USD, GBP/USD, USD/JPY and Bitcoin from Sebastian Seliga May 10, 2024
- Week Ahead – US inflation numbers to shake Fed rate cut bets May 10, 2024
- GBP/USD: trading tips for beginners for European session on May 10 May 10, 2024
- EUR/USD: trading tips for beginners for European session on May 10 May 10, 2024
- Market Comment – Dollar slides, gold shines after soft US labor market data May 10, 2024
- Technical Analysis – AUDUSD remains undecided near crucial technical region May 10, 2024
- Technical Analysis – USDCAD slips beneath 20-day SMA May 10, 2024
The Dollar index, as expected by our last analysis, has pulled back towards the short-term support at 95. For the last couple of days I’ve been calling a bearish reversal in the Dollar index and the speech by Fed Chairman Janet Yellen was the cause of such a pullback.
Red line – resistance
As I showed yesterday, the Dollar index was rejected at the downward sloping trend line from 98.60 and with oscillators diverging a pullback was imminent. After Janet Yellen’s speech, the Dollar was pressured by sellers, so the index fell heavily towards the 61.8% and 78.6% Fibonacci retracement support levels.
Red line – resistance
Blue lines – trading range
Although the Dollar index is still trapped inside the trading range shown by the blue lines, the short-term trend remains bearish as the price continues to make lower lows and lower highs. The price is still below the Kumo (cloud) resistance. However, I do not see a bullish divergence in the oscillators yet, so a new lower low could be expected. Above 96.40, the short-term trend changes to bullish.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: