InstaForex - Analytics

    InstaForex

    699.25 6.25/10
    61% of positive reviews
    Real

    USDX technical analysis for July 21, 2015

    The US Dollar Index remained strong yesterday despite weakness in the early trading hours. The price is now breaking above the 98 resistance level increasing chances of success for the bullish scenario. The US Dollar Index could make a short-term pullback but othe verall trend remains bullish.

    usdx.jpg

    Show full picture

    The US Dollar Index is inside an upward sloping channel. Tenkan-sen (red line) support is held for now. If broken we could see a push towards the lower channel boundary and most probably towards the kijun-sen indicator (yellow line).

    usdxd.jpg

    Show full picture

    The weekly chart remains bullish and now that the recent high at 98 is broken, the bullish scenario of new highs gains even more points. Tenkan- and kijun-sen are positively sloped, price is making higher highs and higher lows. I remain bullish.


    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