DOLLAR INDEX: 200-DMA AT 105.40/105.10 IS KEY SUPPORT
The Dollar Index faced strong resistance near 110.15 in January and failed to overcome this on second attempt. It has gradually reintegrated within previous multiyear range which normally points towards lack of upward momentum. This is also highlighted by the daily MACD, which formed negative divergence and has dipped below equilibrium line. The index has carved out an interim trough at 106.10. A brief bounce is under way but inability to overcome recent pivot high of 108.50 could denote risk of persistence in decline.
Next potential supportis located at the 200-DMA near 105.40/105.10.
The Dollar Index faced strong resistance near 110.15 in January and failed to overcome this on second attempt. It has gradually reintegrated within previous multiyear range which normally points towards lack of upward momentum. This is also highlighted by the daily MACD, which formed negative divergence and has dipped below equilibrium line. The index has carved out an interim trough at 106.10. A brief bounce is under way but inability to overcome recent pivot high of 108.50 could denote risk of persistence in decline.
Next potential supportis located at the 200-DMA near 105.40/105.10.
1. AccuTrade System:
tradingview.com/v/yDFPnb1J/
2. Signal Performance:
thedailyfx.com/performance/
3. Best Forex EA:
thedailyfx.com/beetle-ea/
4. Free Forex VPS:
myfxvps.com/get-it-free/
tradingview.com/v/yDFPnb1J/
2. Signal Performance:
thedailyfx.com/performance/
3. Best Forex EA:
thedailyfx.com/beetle-ea/
4. Free Forex VPS:
myfxvps.com/get-it-free/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
1. AccuTrade System:
tradingview.com/v/yDFPnb1J/
2. Signal Performance:
thedailyfx.com/performance/
3. Best Forex EA:
thedailyfx.com/beetle-ea/
4. Free Forex VPS:
myfxvps.com/get-it-free/
tradingview.com/v/yDFPnb1J/
2. Signal Performance:
thedailyfx.com/performance/
3. Best Forex EA:
thedailyfx.com/beetle-ea/
4. Free Forex VPS:
myfxvps.com/get-it-free/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.