Technicals

Add as a preferred source on Google

FxWirePro: US Dollar index forms bullish divergence in daily chart, good to sell on rallies

Major resistance - 101.12 (161.8% retracement of 99.12 and 95.89). Pattern formed – Bearish Divergence. ​ The U.S dollar index has made a high of 100.04 and slightly declined from that level. It is currently trading arou…

1 min read
FxWirePro: US Dollar index forms bullish divergence in daily chart, good to sell on rallies
Image from the original EconoTimes article

Read the original article

  • Major resistance - 101.12 (161.8% retracement of 99.12 and 95.89).
     
  • Pattern formed – Bearish  Divergence.
    ​
  • The U.S dollar index has made a high of 100.04 and slightly declined from that level. It is currently trading around 99.80.
     
  • In the daily chart the index has formed bearish divergence, so a slight decline till 98.84 (5- day MA)/98.12 (10- day MA).
     
  • On the higher side, any break above 100.05 will take the pair till 100.50/101.12 (161.8% retracement of 99.12 and 95.89).

It is good to sell on rallies around 100.15-100.20 with SL around 101.15 for the Tp of 98.85/98.15  

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560