InstaForex - Analytics


    699.25 6.25/10
    61% of positive reviews

    #USDX technical analysis for May 19, 2015


    Show full picture

    Blue lines = downward sloping wedge

    The Dollar index brake the downward sloping wedge yesterday and gave a short-term reversal signal. It is important now to see a break above the cloud resistance in the area of 94.60-94.90. Support is found at 93.80 as we could see a back test of the breakout.


    Show full picture

    Last week's candle was not a good sign but bulls have stepped in and are fighting to regain control of the trend this week. We bounced from an important support area of the 38% retracement although we have not exactly reached that level. I believe that the Dollar index has many chances for an upward reversal and the start of a new upward move that will bring the index to new highs.

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree