empty
 
 
11.11.2015 10:00 AM
USDX technical analysis for November 11, 2015

The US dollar index intraday bullish flag did not play out as expected despite the breakout. The US dollar has weakened, but it remains inside the bullish channel.

This image is no longer relevant

Blue lines - bullish channel

The US dollar index reversed yesterday after spiking higher to new short-term highs. The price broke below support at 99 moving lower towards the kijun-sen (yellow indicator) at 98.65. Channel support is found at 98.25 and cloud support is at 97.70.

This image is no longer relevant

Green area- resistance area

The US dollar index made an important breakout during the past two weeks. Now it shows signs of a breakout towards new highs. The price bounced off the ichimoku cloud and both kijun- and tenkan-sen are below it trending higher. However, the price has reached the next important resistance area. Bulls need to be very cautious at the current levels and place stops to protect their positions.

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