The
Dollar index has not been able to stall its fall and breaks below the 100.00
level as shown on the daily chart. It is possible for the index to go and visit
the 99.00 level during the next few days where it may stop falling, but the 200
day EMA, blue line, just below the 99.00 level could act as a better support
for the instrument. What is worrisome for the Dollar is that if it breaks below
the 200 day EMA, it will practically have the road clear all the way towards
the 96.00 level. To the upside, the 55 day EMA, purple line, may act as
resistance in case the index retraces to the upside, followed by the 101.72
level.
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Seems like it will keep pushing lower towards the 200 day EMA.
ReplyDeleteI'll watch those levels, thank you.
ReplyDeleteIt's moving lower.
ReplyDeleteIt found support at 99.40.
ReplyDeleteThank you for the relevant information.
ReplyDeleteInsightul analysis as always!
ReplyDeleteThanks for such an informative analysis.
ReplyDelete