For Traders

Analytical Reviews

Technical analysis

19.10.202216:29 Forex Analysis & Reviews: Short-term Dollar index analysis for October 19th, 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.

Red line- resistance

Green line- horizontal support

Blue line- support

The Dollar index remains in a bullish trend making higher highs and higher lows. Price is trading around 112.65 above key support trend lines. Next key resistance is at 113.45. A daily close above this level will open the way for a move towards 115. Support is found at 111.40-111.70. As long as price is above this level, short-term trend will remain bullish and price will be expected to make new highs. So far there is no sign of an important top or a reversal to the downside. The first such signal would be for price to break below the blue upward sloping trend line.

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.