InstaForex - Analytics

InstaForex

696.00 6.50/10
61% of positive reviews
Real

USDX technical analysis for August 5, 2015

The US Dollar index gave a short-term bullish signal yesterday breaking above the short-term trend-line resistance. The US Dollar Index moved towards short-term higher highs in the important resistance area of 98.-98.20.

usdx.jpg

Show full picture

The index remains above the Ichimoku cloud implying that the short-term trend is bullish. Yesterday, we got another bullish signal after a breake above the downward sloping trendline as shown in the 4-hour chart above. We are at important resistance levels now. Critical short-term support is at 97.30.

usdxd.jpg

Show full picture

Green line - support

The weekly chart above shows the important resistance level we are currently at. A rejection in this area will probably push the US Dollar Index towards the Green trendline support. Important weekly support is seen at 96.70. Bulls do not want a break below that area.



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