MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Technical analysis of USDX for March 31, 2017

The Dollar index continued its upward bounce yesterday extending it towards the 50% retracement of the decline from 102.25. I continue to favor a bearish reversal in the index especially now when the price has reached important daily cloud resistance. Overall I believe that the upside is over or soon will be completed.

analytics58ddff55082fd.png

The Dollar index is approaching the upper cloud boundary resistance at the 50% Fibonacci retracement. This is resistance area. So far short-term trend remains bullish as the price is making higher highs and higher lows. Short-term support is at 100.25 and at 99.70. Next resistance is at the 61.8% Fibonacci level at 101.analytics58ddffa9dd88e.png

Blue line - resistance

Black line -neckline support

Green line - long-term trend line support

The daily chart suggests that we might see some more upside today in the Dollar index towards the cloud resistance and probably towards the blue downward sloping trend line. The Dollar index is expected to make a lower high soon and reverse downwards. I am focused on selling the US dollar.

The material has been provided by InstaForex Company - www.instaforex.com

from www.instaforex.com https://www.instaforex.com/forex_analysis/89983/?x=BPDZ
via IFTTT