empty
 
 
16.09.2015 11:20 AM
USDX technical analysis for September 16, 2015

The US Dollar Index has bounced as expected from the 38% Fibonacci retracement. It is heading towards the green trend-line resistance at the level of 96.10 where we also find the Ichimoku cloud resistance. So, bulls are still not in control of the larger trend as we remain trapped below important resistance levels.

This image is no longer relevant

Green line - resistance

The US Dollar Index is heading towards the Ichimoku cloud resistance at 96. This will be an important test for the index and combined with the Fed rate decision tomorrow it is preferred to stay neutral and wait for the dust to settle after tomorrow's announcement. All scenarios are open. Rejection and new pull back towards 94 or breakout above 96 and a push towards at least 98.

This image is no longer relevant

Red line - resistance

Green line - support

The weekly chart remains below the weekly kijun-sen indicator and below the red trend line resistance. Bulls need to break above the red trend-line resistance for this bullish flag to confirm the upside potential. Weekly support is found at 94 by the Ichimoku cloud and in the area of the previous lows around 92. We are trapped inside a trading range, so it is better to stay neutral until the Fed's rate decision.

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