InstaForex - Analytics

    InstaForex

    736.75 6.25/10
    62% of positive reviews
    Real

    USDX technical analysis for November 30, 2015

    The US dollar index is grinding higher and higher but the momentum is declining. The US dollar index should make a downward corrective move soon before the next FOMC meeting. This is not the time to be long on the dollar. First we need to see a pullback.

    usdx.jpg

    Show full picture

    Red lines - bearish divergence

    The US dollar index remains in a bullish trend as the price is still above the Ichimoku cloud and inside the bullish channel. Support is found at 99.60-99.40. Red lines show how the stochastic is not following the index to new highs. This is a bearish divergence sign.

    usdxd.jpg

    Show full picture

    In the daily chart, we observe a bearish wedge formation as the daily stochastic is still at overbought levels. This is not the time to be bullish the US dollar index. This is the time to take profits and raise protective stops for long positions.


    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