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 December 2, 2016

The Dollar index is weakening and testing short-term support at 100.70. With NFP numbers announced today traders should be very cautious as if the economy beats the market expectations we could have the much anticipated third drive higher towards 102.50 to complete the upward cycle.

analytics58412ef12debf.jpg

Blue line - support trend line

The Dollar index has support at 100.70-100.80. Price is under pressure as we break below the 4-hour cloud support. This is an important support area. So a clear break below 100.70 could signal that the top is in for the Dollar index. Otherwise, if support is held we should expect new highs to be seen near 102.50.

analytics58412feed091b.jpg

With oscillators overbought and the weekly candle showing reversal signs, Dollar bulls need to be very cautious. However, the weekly candle could change to bullish after the NFP announcement later today. Volatility is expected to rise today and traders should be patient.

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