For Traders

Analytical Reviews

Technical analysis

21.09.201608:41 Forex Analysis & Reviews: Technical analysis of USDX for September 21, 2016

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 continued its uptrend after back testing broken resistance yesterday. Price is in a bullish short-term trend and is now approaching important long- and medium-term resistance levels. With the central banks of Japan, USA and Europe tomorrow on the wires, the Dollar index will surely get some increase in volatility.

Black line - horizontal resistance

Blue line - long-term support trend line

Green line - short-term support trend line

The Dollar index continues to make higher highs and higher lows. Price is testing horizontal resistance at 96.30. Support is at 95.60. If this level is broken we should expect price to move towards the blue trend line support currently around 94.90.

The Dollar index is below the weekly cloud. Another rejection here will be a bearish sign for the Dollar index and will increase the chances of breaking below the green trend line support. Resistance is at 96.55. Support is at 94.70 on a weekly basis. Important to see how this week closes. Will it make a lower high and reverse lower or will it break above the cloud resistance?

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.