empty
 
 
24.09.2014 11:06 AM
#USDX Technical analysis for September 24, 2014

The Dollar index remains near its highs consolidating. The short-term trend remains neutral. Price is still below important resistance at 85. In case a confirmed break occurs above, it will be a very bullish sign. A rejection at the current levels could bring the index towards 82-81.

This image is no longer relevant

Red line = resistance

The short-term trend remains neutral. Price is mainly moving sideways hitting the resistance level from below but still getting rejected. Resistance is at 84.80-85 area. Breaking above this area will open the way for a sharp rise towards 86. I prefer to stay neutral and wait for a confirmed signal. Breaking below the Ichimoku cloud at 84.30 will not be a good sign for bulls.

This image is no longer relevant

Red line = resistance

In the daily chart above, we see the longer-term trend remains bullish but the sideways action below the strong resistance at 84.80-85 is making us sceptical if bulls have the power to make a break out now. Important daily support is found at 84.20 and if broken this could signal a start of a deeper decline towards 82 or even 81. Bulls should be very cautious now. Very bullish signal if we break and close above 84.80.

Summary
Urgency
Analytic
Alexandros Yfantis
Start trade
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 $6000 more!
    In December we raffle $6000 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
  • 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