Tuesday, December 12, 2017

The Dollar keeps rallying

The Dollar index has broken above the 94.00 level as shown on the daily chart while the bullish momentum may continue. The greenback has been supported by the possibility that the FED will raise its interest rates during the next meeting this Wednesday. If the index keeps rallying, it may reach the 95.00 level where it has already found resistance. In this case, the 200 day EMA is very close to the 95.00 level, making that zone an important resistance. On the other hand, the stochastics indicator is in the overbought zone, but if it drops below the 80% zone, then the Dollar index may pull back to the 93.00 or 92.00 level. In reality, the 91.00 level could act as a better support.


8 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...