U.S. Dollar IndexShort
USDX approaching resistance, potential drop!
USDX is approaching our first resistance at 89.70 (horizontal overlap resistance, 61.8% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 89.25 (horizontal swing low support, 61.8% Fibonacci extension, 78.6% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our major resistance and a bounce off this level might be a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is also approaching our major resistance and a bounce off this level might be a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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