InstaForex - Analytics

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    Technical analysis of USDX for May 6, 2016 2016-05-06

    The Dollar index continued rising yesterday despite worse than expected jobless figures. The dollar reached an important short-term resistance. Taking into account that we expect NFP to be announced later today, I prefer to close dollar longs and be neutral.

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    Black line - resistnace

    The Dollar index reached the Kumo resistance and nearly the 61.8% Fibonacci retracement of the decline from 95.20. The short-term trend is bullish but a reversal is possible if price breaks below 93.50.

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