#USDX Technical analysis for March 26, 2014
March 26, 2014 10:00 amVideo
Latest News
- Forex forecast 05/28/2024: EUR/USD, USD/JPY, Gold, Ethereum and Bitcoin from Sebastian Seliga May 28, 2024
- EUR/USD. May 28th. The bulls intend to reach the level of 1.1000 May 28, 2024
- Trading plan for EUR/USD on May 28. Simple tips for beginners May 28, 2024
- GBP/USD. May 28th. The pound sees no reason to stop at its current level May 28, 2024
- USD/JPY: Simple trading tips for novice traders on May 28th. Analysis of yesterday’s forex transactions May 28, 2024
- Video market update for May 28, 2024 May 28, 2024
- GBP/USD: Simple trading tips for novice traders on May 28th. Analysis of yesterday’s forex transactions May 28, 2024
- EUR/USD: Simple trading tips for novice traders on May 28th. Analysis of yesterday’s forex transactions May 28, 2024
- Low volatility across the board besides Bitcoin – Volatility Watch May 28, 2024
- Technical Analysis – EURCHF pulls back from 14-month peak May 28, 2024
- USA and Europe: market trends during the holidays May 28, 2024
- Market Comment – Euro takes advantage of weak dollar May 28, 2024
- Technical Analysis – EURJPY advances towards 40-year high May 28, 2024
- Technical Analysis – GBPUSD challenges new 2-month high May 28, 2024
- Technical Analysis of Intraday Price Movement of Silver Commodity Asset, Tuesday May 28, 2024. May 28, 2024
- Technical Analysis of Daily Price Movement of USD/IDR Exotic Currency Pairs, Tuesday May 28, 2024. May 28, 2024
- Forecast for GBP/USD on May 28, 2024 May 28, 2024
- Forecast for AUD/USD on May 28, 2024 May 28, 2024
- The bullish bias is gaining momentum. Overview of GBP/USD May 28, 2024
- CFTC report: investors continue to USD sell-off despite high yields May 28, 2024
The Dollar index continues to trade sideways. Short-term trend is neutral but could easily change to up as the momentu from the big upward movement from 79.20 to 80.40 is strong. My preferred scenario is that Dollar will strengthen and the index will break resistance levels.
Short-term support at the 61.8% Fibonacci retracement has held and the index is trading above this level. Short-term resistance is found at 80.40 and then at 81. Short-term support is found at 79.70. If this support fails, we should expect the index to fall towards 79.55. Stop for bulls is 79.20.
The Dollar index is trying to move above the upward sloping long-term trend line that was once support and is now resistance. The Ichimoku cloud is still above the current price and that is why bulls should remain ver cautious. Long-term trend will change if price breaks above the Ichimoku cloud and the 80.70 resistance. We remain mildly bullish as long as we trade above 79.20.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: