RowaynaAhmed

US Dollar Currency Index's Trend Analysis.

TVC:DXY   U.S. Dollar Index
The US dollar index has faced a rise of 0.23% between the support line 93.5 and the resistance line 93.787, and this is due to the positive data released by the United States Department of Labor about the unemployment benefits, which has been less than the expected data by 8k points. Therefore, the index is expected to rise to breach the first resistance line 93.787 to meet the second resistance line 93.831 and then the third resistance line 93.872, especially if the index responds to the reversal pattern of the double and triple bottom. On the contrary, if the index declines, as a result of the negative data released by the Federal Reserve Bank of Philadelphia about the Philadelphia Manufacturing Index (MoM), which has been less than the expected data by 1.3 points, the index will break the first support line 93.717 to meet the second support line 93.696 then the third support line 93.685
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