Technician
Education

USD Index: Multiple Timeframe Analysis

FX:USDOLLAR   Dow Jones FXCM Dollar Index
Weekly Chart: Price is continues to push lower, retested a long term rising trend line and major horizontal support last week but failed to break it. Forming a weekly hammer candle, are we heading for a serious recovery for the USD. lets check the daily chart now for more clues.

Daily Chart: The bounce of the weekly support shown on the other chart was halted at the main descending resistance for the daily bearish wave, as price formed a shooting star candle at the trend line , which s also near a key horizontal resistance and latest swing high.

Conclusion:
-I wont be looking for a long USD trade unless we break that resistance area , or unless we trade back lower .
-The shooting star at the descending resistance hints a potential short term setback before any recovery
-A short term bearish move towards the main support at the weekly chart is likely, but should be considered for a new long opportunity from lower levels, as long as that weekly support is holding.

Good Luck, Come Join me at https://twitter.com/thefxchannel
I teach my experience conclusions in 10+ trading strategies. PM me for details and cost.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out