05.02.202608:29 Forex Analysis & Reviews: US Dollar Index has the potential to continue its strengthening bias today toward its nearest resistance level.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

[US Dollar Index]

#USDX has strengthened over the past few days and has the potential to continue that bias toward its nearest resistance level.

Key Levels

1. Resistance. 2 : 97.95

2. Resistance. 1 : 97.78

3. Pivot : 97.53

4. Support. 1 : 97.36

5. Support. 2 : 97.11

Tactical Scenario

Positive Reaction Zone: If the price holds at 97.53, there is a chance of further upside toward 97.78.

Momentum Extension Bias: If 97.78 is also successfully broken, #USDX could extend its strength toward 97.95.

Invalidation Level / Bias Revision

The upside bias weakens if #USDX falls below 97.11.

Technical Summary

EMA(50) : 97.51

EMA(200): 97.25

RSI(14) : 58.24

Economic News Release Schedule:

Tonight the United States will release the following economic data:

US - Challenger Job Cuts y/y 19:30 WIB

US - Unemployment Claims - 20:30 WIB

US - JOLTS Job Openings - 22:00 WIB

US - Natural Gas Storage - 22:30 WIB

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.