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30.11.201516:56 Forex Analysis & Reviews: Technical analysis of US dollar Index for November 30, 2015

Long-term review

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Technical outlook and chart setups:

The US dollar index was pushed higher to the level of100.30 before pulling back lower. The index is trading at 100.16 now, we expect it to drop lower and break the immediate trend-line support and the level of 99.65 subsequently. We need to see a breakout below 99.65 to confirm a short on rally trade setup going ahead. It is therefore recommended to remain flat now. Immediate support is seen at 99.65 followed by 99.30 and lower, while resistance is seen at 100.30 and higher.

Trading recommendations:

Remain flat looking for an opportunity to go short.

Good luck!

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