Tuesday, August 16, 2016

Harsh drop on the Dollar index

The Dollar continues being hurt by the disappointing US fundamentals and its index drops below the 95.00 level to get close to the 94.00 level. The bearish momentum is still in place, even though the index tries to pull back. If it continues dropping, then the 94.00 level may act as support. Below the 94.00 level, it next support could be the 93.00 level. To the upside, above the 95.00 level, the 200 EMA zone around the 95.86 level could act as resistance. Also, there is a chance of seeing a breakout and pullback pattern around the 95.00 level, from where a short entry is possible.


7 comments:

WTI oil at the 200 day EMA

WTI oil breaks below the 66.27 support zone and accelerates its bearish momentum towards the 200 day EMA around the 64.30 level. We have b...