InstaForex - Analytics


    699.25 6.25/10
    61% of positive reviews

    USDX technical analysis for March 16, 2016 2016-03-16

    The Dollar index is trading inside a triangle pattern. Since the FOMC meeting will take place today, we should expect some volatility in the forex market, and the dollar could get a clear direction today for its next move.


    Show full picture

    Support at 95.80 was held. Price however remains below the 4-hour Kumo (cloud). Important resistance is at 98.50. Stochastic is oversold. We can see whether a breakout or breakdown today. Watch 95.20 and 98.50 closely today.


    Show full picture

    On the weekly chart, we continue to see price trapped inside the trading range, but it is still above the Kumo (cloud). Tenkan- and kijun-sen remain neutral moving sideways with no clear slope. There are more chances that the Dollar index will break to the upside as support from below is very strong.

    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