empty
 
 
27.07.2015 10:04 AM
USDX technical analysis for July 27, 2015

Although the US dollar index was in a strong short-term bullish trend on Friday, it failed to close above the 97.50 resistance area and got rejected. The rejection caused weakness and the pullback got deeper towards the lower channel boundary of 96.50. The trend is bearish but with increased chances of a trend reversal.

This image is no longer relevant

Black lines - bullish channel

The US dollar index is in a bearish trend and in a difficult and crucial spot for bulls. The price is making lower lows and lower highs. The price is below the Ichimoku cloud on the 4-hour chart and was rejected at the kijun-sen (yellow line) resistance. The next support is at the lower channel boundary at 96.35. The most important support level is however the low at the 95.50 area made in early July.

This image is no longer relevant

Blue line - resistance

The weekly chart is getting dangerously bearish. The price got rejected at the blue trendline resistance and has now broken below the weekly kijun-sen support. Although it is early in this week's candle, breaking below the tenkan-sen (red line indicator) at 95.80 will be a bearish signal. Bulls need to step in and reverse trend otherwise the longer-term bullish scenario will be in danger. A break below 95.50 could imply that we could even see a new weekly low towards 90 as the form of the rise from 93.10 is corrective and not impulsive.

Summary
Urgency
Analytic
Alexandros Yfantis
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback