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 11, 2016

As expected the US dollar index made an upward move above 96 strengthened by the better than expected NFP numbers. The technical view of the index favored the bullish side and that was what the market delivered.

analytics578343ff68fa1.jpg

Black line - resistance Trend line (broken)

The dollar index successfully broke and back tested the black trend line resistance and is now trying to break above the highs of 96.70 in order to continue towards 99-100. The trend is bullish for the short-term and medium-term. The short-term support is at 96. Resistance is at 96.70.

analytics5783446941bb9.jpg

Last week's candle entered the weekly Kumo and closed also above the weekly kijun-sen (yellow line indicator). The trend is bullish and with higher highs and higher lows on a weekly basis we can say that the bullish scenario is being favored for a bigger bullish move to new highs. Critical support for this scenario

will remain valid is the 93 price level.

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