US Dollar Index Weekly Update
After few weeks of indecision US Dollar Index gave significant move upwards and broke downtrend (downtrend red line) and maybe made new uptrend (uptrend yellow line) which needs to be confirmed in the future. Bullish sign is that price is above EMA 100 and if it stays that would be more optimistic for US Dollar Index. We could expect new action in price in red zone (103.07-103.172) and if the price broke that zone next stops are red dashe line (104.65) and red line (105.27). On the other hand if we see drop in price then we could expect that green zone (101.94-102.11) could act like support before testing uptrend yellow line.
This is not financial advice and I am not a financial advisor. It is important to do your own research and make your own opinion before getting into any trades or financial investments. You are responsible for all your trades and all win and lose results, so manage your risk according to your financial situation. Don't invest money which you are not ready to lose.
This is not financial advice and I am not a financial advisor. It is important to do your own research and make your own opinion before getting into any trades or financial investments. You are responsible for all your trades and all win and lose results, so manage your risk according to your financial situation. Don't invest money which you are not ready to lose.
Dagangan aktif:
The price closed a little above zone where I expected some price reaction. If it manage to hold above 103.07 then it is very possible that it going to test next potential resistance zone at 104.65. If price fails to hold above 103.07 then it is likely that it is going towards green zone (101.94.-102.11) where I expect some reaction in price.
On 25th of May (Thursday) is coming out preliminary release of US GDP and then we can expect volatility in US Dollar Index.
On 25th of May (Thursday) is coming out preliminary release of US GDP and then we can expect volatility in US Dollar Index.
Dagangan aktif:
It is very possible that price is going to test next resistance zone at 104.65 or even at 105.27. It is hard to tell will it stop there or continue to grow above mentioned resistance zones. Another important note is that price definitely will retrace at some point before continuation of further grow. In case of retracement it is possible that red zone around 103.07 could act as support. If price will go below that zone then next support is green zone (101.94.-102.11) where I expect some reaction in price.
