For Traders

Analytical Reviews

Technical analysis

07.09.201509:39 Forex Analysis & Reviews: USDX technical analysis for September 7, 2015

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 US Dollar Index remains in a short-term trend as the price continues to hold above the short-term support indicators. However, an inability to make a strong upward move after the new short-term high is a bearish sign.

Green line - resistance

The US Dollar Index is in a bullish short-term trend as the price is moving towards higher highs and higher lows above the Ichimoku cloud. However, we need to break above the green trend-line resistance in order to help bulls hold control of the trend.

Red line - resistance

Green line - support

The US Dollar Index did not manage to break above the kijun-sen resistance. Bulls need to see a weekly close above it in order to gaim momentum to test the resistance trend line. Otherwise, we will get a strong rejection soon that will push the price towards the weekly cloud support at 94.50. The more time passes the less possible is a move lower towards 92. That is why my pullback target is at 94.50.

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.