#USDX Technical analysis for February 27, 2014
February 27, 2014 10:10 amVideo
Latest News
- Trading plan for GBP/USD on April 18. Simple tips for beginners April 18, 2024
- Trading plan for EUR/USD on April 18. Simple tips for beginners April 18, 2024
- The Fed and global instability: a double blow to American markets April 18, 2024
- Forecast for EUR/USD on April 18, 2024 April 18, 2024
- Forecast for GBP/USD on April 18, 2024 April 18, 2024
- Forecast for AUD/USD on April 18, 2024 April 18, 2024
- Outlook for GBP/USD on April 18. Pound was not impressed by the inflation data April 18, 2024
- Outlook for EUR/USD on April 18. Euro has fallen into a new flat April 18, 2024
- GBP/USD. Correction or trend reversal? April 18, 2024
- The FOMC will not lower rates in 2024 April 18, 2024
- Powell made a bold point, and Bailey did not report anything important April 18, 2024
- Will the euro take a risk? April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 17-19, 2024: sell below $2,400 (21 SMA – double top) April 17, 2024
- Technical Analysis – GBPCAD hits a wall but bulls not ready to give up April 17, 2024
- Trading Signals for Ethereum (ETH/USD) for April 17-19, 2024: sell below $3,125 (21 SMA – 2/8 Murray) April 17, 2024
- Analysis for the EUR/USD pair on April 17th. Jerome Powell didn’t help the dollar much April 17, 2024
- Analysis for GBP/USD pair on April 17th. British inflation overtakes American inflation April 17, 2024
- USD/JPY: Simple Trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- EUR/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
The Dollar index has made a sharp turn upwards breaking shor-term resistance at 80.40. This was our buy signal and a cancelation of the bearish flag pattern. Combined with the fact that the Dollar index has bounced upwards again from the important 80 level, makes us confident that this upward move has potential to reach near 81.
Now that the index has broken above the previous high and the 38% Fibonacci retracement, there is increased chance of seeing the index near 80.75 to 81. The next short-term resistance is found at 80.65 and then at 80.80. Short-term support is found at 80.35 and then at 80.15-10.
The daily chart is getting closer to our target once 80.40 was broken. The pattern in the Dollar index is bullish as we see higher highs and higher lows. Important resistance is found in the area included inside the blue rectangle. Breaking above the blue rectangle resistance area will increase chances of testing the highs near 81.30-40. We are bullish the Dollar index with 80.15-80 stop.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: