InstaForex - Analytics

    InstaForex

    694.50 6.50/10
    61% of positive reviews
    Real

    Technical analysis of USDX for June 16, 2016

    The US dollar index pulled back towards the short-term support levels of 94.20 and the 50% retracement. This is still considered a pullback inside a bigger upside move. This scenario will be canceled, if the price breaks below 93.35.

    analytics576251fba3a88.jpg

    Show full picture

    Red line - resistance

    Green line - support

    Although the index initially broke above the 4-hour Kumo (cloud), the red trend line resistance proved to be strong to be broken, and the price got rejected and re-entered the cloud. The price is above the green trend line support and at the 50% retracement of the latest rise. The 61.8% is a more important support level, so even a pullback towards that level will still not cancel my bullish medium-term view.

    analytics57625263d5e9d.jpg

    Show full picture

    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