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19.11.2015 10:01 AM
USDX technical analysis for November 19, 2015

The US dollar index showed a short-term reversal sign yesterday by breaking out the short-term upward sloping channel. The US dollar has weakened a bit, but it holds important short-term support at 99 now.

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Blue lines - bullish channel

Red lines - bearish divergence

The US dollar index is still trading above the Ichimoku cloud but has broken the bullish channel. The US dollar index however holds above the 99.10 support. Resistance is seen at 99.50 and next the recent high at 99.85.

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Red line - support 99.10

The US dollar index daily chart shows the important support level of 99.10. If it gets broken, we should expect a pullback towards at least 97. Stochastic is overbought and chances for bearish reversal are very high. Bulls should raise their stops to 99.10 and protect their profits.

Summary
Urgency
Analytic
Alexandros Yfantis
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