The Dollar index remains in a sideways consolidating pattern that looks like a triangle. Trend remains neutral. I prefer to remain with no position. I prefer neutrality as this could break out any way. If I had to choose the direction I believe is the most probable that it will take, I would say that we should expect a move lower.
The Dollar index has short-term support at 80.45 and short-term resistance at 80.75. Price is below the Ichimoku cloud that is very thin. This means that we should expect volatility to rise soon and we should expect a break out soon.
The Dollar index is consolidating near the highs. This is good if you want to take a short position with 81 as a stop reverse level. Important daily resistance at 81. Daily support is found at 80.05. Best strategy is to wait and act after a buy or sell signal is given.
The material has been provided by InstaForex Company – www.instaforex.com
The Dollar index remains in a sideways consolidating pattern that looks like a triangle. Trend remains neutral. I prefer to remain with no position. I prefer neutrality as this could break out any way. If I had to choose the direction I believe is the most probable that it will take, I would say that we should expect a move lower.
The Dollar index has short-term support at 80.45 and short-term resistance at 80.75. Price is below the Ichimoku cloud that is very thin. This means that we should expect volatility to rise soon and we should expect a break out soon.
The Dollar index is consolidating near the highs. This is good if you want to take a short position with 81 as a stop reverse level. Important daily resistance at 81. Daily support is found at 80.05. Best strategy is to wait and act after a buy or sell signal is given.
The material has been provided by InstaForex Company – www.instaforex.com
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