empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

16.01.201809:54 Forex Analysis & Reviews: Technical analysis of USDX for January 16, 2018

Long-term review
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.

The Dollar index remains in a bearish trend. Price is bouncing but as long as price is below 91.80 trend remains bearish in the short term.

Exchange Rates 16.01.2018 analysis

Blue line - resistance

Short-term resistance is at 90.80 and next is at 91.40. However, only a break above 91.80 would change short-term trend. A bounce today is justified but we should not forget that overall trend is bearish.

Exchange Rates 16.01.2018 analysis

Blue line - long-term resistance

Weekly trend remains bearish. The bearish signs we noted in past analysis were the rejection at 94.20 and at 92.60. Price is making new lows but not the RSI or the MACD. I believe that the downside towards 88 is highly probable but we should also keep in mind that the decline from 103.50 might be at its final stages.

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2024

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.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off