empty
 
 
07.07.2014 11:13 AM
#USDX Technical analysis for July 7, 2014

The Dollar index has broken short-term resistance levels after bouncing off our support target at 79.75 and is heading higher towards intermediate-term resistance levels that if broken could change the longer-term trend.

This image is no longer relevant

the price is above the Ichimoku cloud and above the red downward sloping trend line resistance. The Dollar index is also trading inside an upward sloping channel. The trend favors bulls. Short-term support is found at 80.15 and 80.05. Short-term resistance is found at 80.60-80.70.

This image is no longer relevant

The daily chart shows how the Dollar index is bouncing higher towards the 50% retracement of the decline from 81. Next important daily resistance is found at the 61.8% retracement at the 80.55 and 80.75 level. So, a daily close above these levels will be a sign of strength and a sign that the Dollar index is changing longer-term trend to up.

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