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*

Ichimoku cloud indicator analysis of USDX for February 20, 2018

The dollar index is challenging the 4 hour cloud resistance and the medium-term trend line resistance at 89.50-90 area. Trend is bearish in cloud terms, but it can confirm a reversal soon if it breaks above the cloud.

analytics5a8bd75da2201.png

Red line - medium-term resistance trend line

The US dollar index is testing the previous support which turned into resistance at 89.60. The lower boundary of the Ichimoku cloud is also at this level. This is the important resistance. A rejection at the current price level could push the index to new lows. The short-term support is at 89.20. A break below it will be a bearish sign.

analytics5a8bd7b78d076.png

Blue line -long-term resistance

On a weekly basis the US dollar index remains in a bearish trend. The price needs to break and close first above 90.85 and next 91.50 levels in order to confirm a reversal. Target for a possible bigger bounce remains at the weekly Kumo near 93. A rejection at the 91 area could signal another turn lower towards 87. My bigger picture view considers that the entire decline from 103.60 is either complete or near completion, so traders should be monitoring reversal signs.

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