InstaForex - Analytics

    InstaForex

    700.25 6.25/10
    62% of positive reviews
    Real

    USDX technical analysis for July 22, 2015

    The US dollar index has broken the short-term upward sloping channel and is showing signs of a short-term reversal. As I mentioned in my last analysis, it was highly probable to see a short-term pullback in the USDX towards 97. However, the longer-term trend remains bullish.

    usdx.jpg

    Show full picture

    The US dollar index has made a pullback yesterday and remains weak this morning. The price is expected to test the Ichimoku cloud, but at the same time, we see that it remains inside the bullish channel. Important support is found at 97-96.80 area and I believe it should hold and produce a bounce if tested.

    usdxd.jpg

    Show full picture

    The weekly chart remains bullish despite the red candle and the pullback in the price. I was expecting a pullback to test support by the kijun-sen (yellow line). A weekly close above 98 will be the sign that the uptrend resumes. Bulls should be very cautious if the price breaks below 96.80.


    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