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 March 8, 2016

The US dollar index has broken the short-term support at 38% Fibonacci retracement and is moving lower to test the 50% retracement. Big support at the 61.8% Fibonacci retracement. A trend has reversed to bearish and we are now looking for a deep pullback if the 61.8% Fibonacci retracement fails to hold.

analytics56de83eb9068e.jpg

Blue lines - bullish channel

The US dollar index has not only broken the bullish channel, but has also broken below the 38% Fibo and the Kumo (cloud) support. The trend is bearish in the short-term. Short-term resistance is seen at 97.65. If the price breaks above it, then we will see a bullish reversal.

analytics56de8448bb5ee.jpg

Blue lines - triangle pattern

In the weekly chart above, we see how the price has broken below the tenkan- and kijun-sen indicators. This implies that the Kumo (cloud) will be tested. The target is where the Kumo (cloud) and the lower triangle boundary are found. This intersection is at the level of 96. Breaking below it will open the way to a new low below 95.20.

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