Technical analysis of USDX for July 31, 2018


According to the 4-hour chart, the USD Index is now moving in a non-trend market. This situation is seen as the price is moving in the rectangular form (yellow box). Since the Moving Average is going into the body of the price bar, we know exactly this a non-trend condition, based on the previous rectangular pattern. I foresee a breakout from the rectangular pattern on August 16, 2018 (2 days are left before the end of the Mercury Retrograde phenomenon ends).


The material has been provided by InstaForex Company -