#USDX analysis for January 16, 2014
January 16, 2014 10:15 amVideo
Latest News
- Technical Analysis – USDJPY erases losses, but risks remain May 1, 2024
- Video market update for May 01, 2024 May 1, 2024
- What do Q1 earnings hold for Disney’s stock? – Stock Markets May 1, 2024
- Will the post-FOMC jobs report move the dollar? – Preview May 1, 2024
- Forex forecast 05/01/2024: EUR/USD, GBP/USD, USD/JPY, SP500 and Oil from Sebastian Seliga May 1, 2024
- Market Comment – Dollar enjoys a bid; stocks concerned about a hawkish Fed May 1, 2024
- Technical Analysis – Gold seeks safety after Tuesday’s drop May 1, 2024
- Technical Analysis – USDJPY stabilizes a tad below 160.00 May 1, 2024
- Video market update for April 30, 2024 April 30, 2024
- Analysis of the EUR/USD pair on April 30, 2024 April 30, 2024
- Analysis of the GBP/USD pair on April 30th. Last chance for the dollar April 30, 2024
- GBP/USD: Simple trading tips for novice traders for April 30th (US session) April 30, 2024
- EUR/USD: Simple trading tips for novice traders for April 30th (US session) April 30, 2024
- GBP/USD: trading plan for the US session on April 30th (analysis of morning deals). The pound is kept within the side channel April 30, 2024
- Could Monday’s intervention turn the tide for the yen? – Special Report April 30, 2024
- EUR/USD: trading plan for the US session on April 30th (analysis of morning deals). The euro is trying to end the month on April 30, 2024
- Trading Signals for Bitcoin (BTC/USD) for April 30 – May 7, 2024: sell below $62,500 (21 SMA – 4/8 Murray) April 30, 2024
- Trading Signals for Ethereum (ETH/USD) for April 30 – May 7, 2024: sell below $3,177 (21 SMA – 1/8 Murray) April 30, 2024
- Technical Analysis – Is US 100 setting course for new record highs? April 30, 2024
- EUR/USD. April 30th. Sellers await weak inflation data in the EU April 30, 2024
The Dollar index is trading near its short-term resistance area of 81.15. Prices have stopped their rise just below the resistance as it proves to be a very strong obstacle. Bulls will need to show more signs of strength in order for the upward move to continue.
The price formation from 80.40 looks impulsive but the rise has stopped right on resistance. Breaking above 81.15 will help prices rise towards 81.50 which is the previous important high. For now as long as prices trade above 80.40 bulls will have more chances of success. Breaking below 80.40 will push prices towards 79.80.
Nothing new in our daily chart. Prices are trading within the strong resistance area. 80.40 is important support and bulls should use it as a stop. Our MA are starting to take a positive slope and this is good for our bullish scenario which expects prices to rise towards 83. We remain long as long as prices trade above 80.40 and we target 83.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: