On
the daily chart of the US Dollar Index, we can see that the price has been
consolidating in a range, forming what it appears to be a symmetrical triangle.
The upper boundary of the consolidation is around the 96.00 to 96.50 zone. To
the downside, we can see that the lows of the candles have been higher than the
previous ones, but a breakdown of the 95.00 level could take the index to the
94.00 level or the 93.00 level. Since yesterday the Dollar Index has been
falling on the comments by the FED regarding interest rates, but once the index
go to the 95.00 level, it stalls there and tries to bounce to the upside. For
now the 96.00 level could act as its next resistance.
Subscribe to:
Post Comments (Atom)
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...
-
Great events, great Webinars during this month of November by ActivTrades. Paul Wallace will be conducting an interesting event on Thursday...
-
The Dow Jones industrial index reaches for the first time in its lifetime the 20000 points, prolonging what it has come to be known as “the ...
-
The EUR/USD has made a very good bearish retracement from the 200 day EMA around the 1.0770 level, which has taken it below the 1.0700 leve...

Still consolidating in a choppy formation.
ReplyDeleteThank you for the analysis.
ReplyDeleteVery useful assessment, I'll keep it in mind.
ReplyDeleteGood post, thanks!
ReplyDeleteUseful article, thanks for sharing!
ReplyDeleteThanks for the information.
ReplyDeleteThank you for the relevant information.
ReplyDeleteGreat take on markets!
ReplyDelete