04.08.202218:49 Forex Analysis & Reviews: Dollar index analysis for August 4th, 2022.

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.

Blue rectangle- resistance

Purple rectangle- target if resistance is broken

The Dollar index is under pressure. Price is trading around 105.82 having formed a lower high. Tomorrow volatility around the Dollar is expected to rise and we need to keep a close eye on key resistance levels. If bulls manage to break above the blue rectangle resistance at 106.60, we should expect the Dollar index to continue higher towards at least the purple target area of 107.50-107.75. As long as price is below 106.60, the Dollar index is vulnerable to a move to new lower lows towards 104.80.

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.