empty
 
 
05.01.2016 10:04 AM
USDX technical analysis for January 5, 2016

The US dollar index held above the support at 98 yesterday and made an upward reversal towards 99. This is a sign of the dollar's strength. However, we are again close to critical short-term resistance where the index got rejected twice. Will there be a third time?

This image is no longer relevant

Blue line - trend-line support

The US dollar index has once again reached the 61.8% Fibonacci retracement of the decline from 100.50. This is an important short-term resistance.The blue trend line is also an important support, so a break below 98.20 will open the way for a move towards 97.

This image is no longer relevant

The weekly candle in the US dollar index has transformed into a bullish one despite the heavy selling against the dollar early on Monday. A close above 99 for the week will imply that new highs are coming. Non-Farm Payrolls on Friday will play an important role in what the greenback will do next.
Summary
Urgency
Analytic
Alexandros Yfantis
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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