empty
 
 
06.10.2015 10:04 AM
USDX technical analysis for October 6, 2015

The US dollar index continues trading inside the big triangle pattern. I prefer to stay neutral and wait for a breakout before taking any actions. I still believe that eventually the index is going to break to the upside and confirm the start of a new upward move towards new highs.

This image is no longer relevant

Red line - resistance

Green line - support

The US dollar index is inside the Ichimoku cloud. It got rejected at the upper cloud boundary and this is a bearish sign. It means that we can see the index move towards the support green trend line and test it.

This image is no longer relevant

Red line - resistance

Green line - support

The weekly chart remains unchanged. The trading range is getting narrower. The price holds above the cloud support. It keeps the hopes for bulls alive. It will be an important buy or sell signal if either trend line is broken. The bullish flag pattern implies that the upside breakout is more probable.

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