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Tickmill
Jul 13, 2018 3:11 AM

USDX approaching resistance, potential drop!  Short

U.S. Dollar Currency IndexTVC

Description

USDX is approaching our first resistance at 95.09 (horizontal overlap resistance, 38.2%, 76.4% Fibonacci retracement, 61.8%, 100% Fibonacci extension) where a strong reaction might occur below this level pushing price down to our major support at 94.45 (horizontal overlap support, 50% Fibonacci retracement).
RSI (34) is also approaching resistance where we might see a corresponding drop in price.
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Comments
ha_invest
Should we consider going long now?
ha_invest
@ha_invest, My understanding is that this fall is also driven by "Trumps Europe Tour" and the upcoming meeting between Trump and Putin?
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