InstaForex - Analytics

    InstaForex

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    Technical analysis of USDX for June 8, 2016 2016-06-08

    The Dollar index remains in a bearish trend and is now challenging important short-term support levels like 93.50. If this pull back off 96 is not the main trend, the Dollar index will soon reverse upwards. If continued weakness remains, this will not be a good sign.

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    The Dollar index is trading below the Kumo and both the tenkan- and kijun-sen (red and yellow line indicators). Trend remains bearish as long as price is below the two indicators. Stochastic and RSI are giving bullish divergence signals in the 4 hour chart. This is a warning of caution for Dollar bears. Nothing more.

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