The dollar index is bouncing strongly above major support at 93.39 (Multiple Fibonacci retracement, Fibonacci extension, Horizontal overlap support, bullish price action). The next major level of resistance is at 94.28 (61.8% Fibonacci extension, 100% Fibonacci Extension, Horizontal overlap resistance). The next major level of support is at 92.26 (Fibonacci retracement, horizontal swing low support).
Stochastic (34,3,1) is bouncing nicely off our 2.8% support and has good upside potential.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,3,1) is bouncing nicely off our 2.8% support and has good upside potential.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results