#USDX analysis for December 24, 2013
December 24, 2013 11:45 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 has back tested the broken downward sloping channel. Now it is preparing for another strong upward move that could bring prices to 81. We are bullish biased expecting the upward move to be strong.
Short term resistance is found at 80.75. Short term support is found at 80.30. The index is now trading at 80.50 and we expect in the next few days to see it above 81. The red upward sloping trend line provides support to the upward trend that started at 79.75. We expect prices to continue to make higher highs and higher lows. Stop for bulls is 80.30 for short term traders. Short term target is 81.
Longer term traders should have 79.80 as stop and 82.50 as target. Important resistance from the daily chart as shown above, is found at 80.85-95. The blue downward sloping trend line if broken, would confirm up trend. We are bullish biased and we want resistance at 81 to be broken soon.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: