#USDX Technical analysis for February 13, 2014
February 13, 2014 12:30 pmVideo
Latest News
- 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
- GBP/USD. April 30th. Bulls continue to attack, but American reports could help the bears April 30, 2024
- Besides yen pairs, neutral volatility across the board ahead of Fed and NFP – Volatility Watch April 30, 2024
The Dollar index started an upward bounce from the 76.4% Fibonacci retracement and the 80.40 support area, but it did not manage to break above the downward sloping trend line resistance. The index was rejected at the resistance trend line yesterday and pulled back to its recent lows. Will it make a double bottom at 80.40 or will it break the last low and move towards 80.20?
Short-term support is found at 80.40 and short-term resistance by the downward sloping trend line is found at 80.75. Breaking above 80.75 will push prices towards 81 which is the next short-term resistance. Breaking the 80.40 support will push the index towards the important support at 80.10-20.
The daily chart doesn’t show a good picture for bulls. The red downward candle is targeting 80.10-20 and more downside pressures. We are neutral as we are close to important support but trend remains down. We should wait for an upward break out in order to take long positions. Short positions are not favored at these price levels because we are close to important support area.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: