InstaForex - Analytics


    699.25 6.25/10
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    USDX technical analysis for February 8, 2016 2016-02-08

    The US dollar index has reached important weekly support levels bouncing off as expected. There are signs of a short-term reversal but I'm not sure that the decline from 99.80 is over.


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    The price is bouncing above the short-term tenkan-sen indicator resistance and could push higher towards the kijun-sen (yellow line indicator) that also coincides with the 38% Fibonacci retracement. The level of 97.65 is a short-term bounce target. However, there are still chances that we have made an important bottom.


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