02.12.202123:43 Forex Analysis & Reviews: Dollar index: Then and Now.

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

In previous posts during this past year we mentioned many times the similarities of price action now and price action back in 2017 when it made another base around 89-90 and started a new upward movement towards 103. As we expected the reversal to the upside when price was trading around 89-90, we now see similarities to 2017 and expect a pull back that could last 2-5 weeks.

Blue lines- bullish divergence

Green lines -expected path

Yellow rectangles- Price and RSI tops

Red lines- expected path

With the RSI at the overbought level, a 2 to 5 week pull back is justified if price continues to follow the roadmap from 2017. Shorter-term charts also justify such a pull back and that is why I believe there are increased chances of this happening. Maybe tomorrow's NFP announcement will be the spark that starts a move lower against the Dollar. One thing is for sure, volatility is expected to rise very soon and most probably the Dollar will be under pressure. Traders just need to be patient and watch for clues. No need to front run the market.

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.