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 March 7, 2017

The bearish scenario of the Head and Shoulders pattern is still valid, as long as the price is trading below 102.30. The Dollar index is mostly trading sideways between 102 and 100.50.

analytics58be6c5b7c40e.png

In the 4-hour chart the Dollar index is trading above the Ichimoku cloud and has already bounced off the 61.8% Fibonacci retracement of the latest upward move. These signs are bullish. Support is at 101.20 and as long as the price is above that level, the bulls will make another try to break above 102. If support fails we should expect 100.50 to be tested.

analytics58be6cb648e26.pngBlack line - neckline support

Green line - long-term support

Blue area - Head and Shoulder pattern

The Dollar index weekly chart remains indecisive. The price is trading at the same levels as the left hand shoulder just below 102. 100.70 level is crucial support on a weekly basis. If it is broken we should expect the neckline to be tested. A break above 102.30 will increase the chances of making new highs towards 105.

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