InstaForex - Analytics


    739.75 6.25/10
    62% of positive reviews

    Technical analysis of USDX for June 6, 2016 2016-06-06

    As we had expected, the Dollar index made a pullback through our first target of the 38% retracement and even reached the 50% Fibonacci retracement. The trend is bearish for the short-term.


    Show full picture

    Blue lines - bullish channel

    The bullish channel was broken from last week and we noted promptly that a correction was near and our first target was the 38% Fibonacci retracement. The dollar weakened amid a drop in NFP numbers announced on Friday. This caused a breakdown.


    Show full picture

    is not ended at the 38% Fibonacci retracement of the rise from 2014, but could extend lower towards the 50% or even the 61.8% Fibonacci retracement.

    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