empty
 
 
24.06.2014 10:43 AM
#USDX Technical analysis for June 24, 2014

The Dollar index remains in downtrend. Prices are making lower lows and lower highs. The index continues to trade below the short-term downward sloping red trend line and below the Ichimoku cloud. This is not good for bulls. Resistance is found at 80.35 and support is at 80.20-80.15.

This image is no longer relevant

A break above 80.35 could push the index back towards 80.50-80.60. Breaking below suppot we should expect the selling pressures to push the Dollar index towards 80 and below.

This image is no longer relevant

Concluding, trend remains down. I've been bearish since 80.90 saying that I will remain bearish as long as price trades below 81 expecting the index to reach the Ichimoku cloud support in the daily chart. The most probable target is the 50% retracement.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback