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*

#USDX Technical analysis for September 25, 2014

The Dollar index has made a break out above resistance levels yesterday and is very strong moving higher above 85. This break out is very important as many traders have bet against it and not only bulls are buying this but also bears whith their stops getting hit. The 85 price level was a very important long-term resistance.


usdx.jpg

Red line = resistance


The short-term chart is fully bullish once again as price has broken above the 84.80 resistance and is now making new highs. Price is making higher highs and higher lows. The buy signal was given once we broke above 84.80 and our target is now near 86 for the short term.


usdxd.jpg

Red line = resistance


The daily chart remains fully bullish and specially now that we have broken above the long-term resistance levels we could see this rally continue. It is important for the week to close above 85 and to continue closing higher above 85 and not pulling back below 84.50. We could see a back test of the break out area at 85 but right now anything deeper that 84.50 could signal a false break out. This would be an extremely bearish signal. In conclusion, we remain bullish.


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