x
Breaking News
0

US Dollar Index – Daily

By Colin AbramsForexJul 17, 2017 14:15
za.investing.com/analysis/us-dollar-index-%E2%80%93-daily-200195848
US Dollar Index – Daily
By Colin Abrams   |  Jul 17, 2017 14:15
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Recommendation: LOOK TO GO LONG

Current Trend: Short- and med-term down, but oversold. Long-term sideways.

Strategy: Go long a close above line 4 (aggressive), or above line 3 (more conservative).

Dollar Index
Dollar Index

Chart Setup: The US Dollar Index has now reached it downside target from a large wedge pattern (lines 1-2)/head and shoulders.

  • It is oversold, as seen by its Stochastic (on top), which is also giving a positive divergence, pointing to a rally to come. Its weekly and monthly Stochastic (not shown) are also oversold.

Strategy Details: Look to go long. A close above line 4 will be the most aggressive buy signal. Whereas a close above line 3 will be more conservative. Or, go long on a bullish reversal week up. (Line 4 is at 95.92 on Monday 17th and it’s declining by 7c per day thereafter. Line 3 is at 96.96 on Monday 17th and it’s declining by 6c per day thereafter).

Target: Once the rally gets underway, and specifically once its breaks out above line 3, look for a rally to line 1 initially (98.28). But very likely to over the 100 level, and 101.50 med-term.

Stop-loss: A close below the low of the current correction. From 98 short-term traders tighten stop to a prior two day low.

US Dollar Index – Daily
 

Related Articles

US Dollar Index – Daily

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

 
Are you sure you want to delete this chart?
 
 
Replace the attached chart with a new chart ?
Post
Post also to:
1000
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
 
Replace the attached chart with a new chart ?
Post 1000
Please wait a minute before you try to comment again.
 
 
 
Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Add Chart to Comment
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email