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DXY_Forecast_May_2015

INDEX:DXY   U.S. Dollar Index
34 0 0
Technical Analysis for DXY_May_2015

The DXY             ( Dollar Index             ) has broken the fibs_re_0.236@95.60. This support level was broken and now becomes resistance for DXY             .
A further support for DXY             will be occurred in the next days(before 08/05/2015) to reach the support 2 level @92.57.

On 08/05/2015 there will NFP be released and a strong volatility for DXY             and other major currencies might be given, whereat the index for DXY             will move around/between Gan_Fan_1/3@88.71. and stay there for a while until the questions of rate hike be cleared by Fed.

According to our set EMA 200 and 50 we see that DXY             left now its upward trend and moves between EMA50 and 200 to be flat. A touch to the level of EMA 200 can be happened for the markets to decide, whether DXY             will go to downward trend or not. This aspect can be combined to the upcoming events from USA economy situations and the decision of Fed about hiking rate.

On the other hand other major currencies in relation to the greenback have been under pressure for a quite long time and now should it be time to come up.

Regarding to all those aspects, we are the opinion that for a short term the DXY             will be downward.
Trade well!

Makkaba team
http://m2m-vn.com/harmonic-trading-profiting-from-the-natural-order-of-the-financial-markets-by-scott-m-carney_volume-01/
http://m2m-vn.com/elliott-wave-principle-key-to-market-behavior-prechter/
https://www.mql5.com/en/market/product/18578
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