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 July 5, 2016

The dollar index is sliding lower with a weak bearish trend following the holiday of the 4th of July. I believe the dollar index will bounce strongly this week and start a new uptrend. Support at 95-95.40 is critical.

analytics577b5a2b65811.jpg

Black line - resistance

Price is trading just above the 4-hour Kumo (cloud) support at 95.45. Initial bounce signals show that support is respected and it will be difficult to break it. Resistance is at 96.10. A breakout above this level will open the way for a new uptrend towards 99.

analytics577b5a80c8ead.jpg

Red line - trend line resistance (broken)

On a daily basis, price is above the Kumo and is back testing the broken trend line resistance. With a higher high and higher low since late April, the dollar index may be on the verge of staging a longer-term trend reversal. Overall I'm dollar bullish.

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