USDollar Index: Potential reversal scenario that urges attention
Targets: 92.00
Risk: 100.39
Technical Reasons:
Signs of double top pattern appears after the US Dollar Index failed to reach last month’s recorded top at 100.39, which hints a potential reverse at the Index’s track on the short term and medium term basis.
The potential bearish trend scenario begins by breaking the short term bullish trend line and completing drawing the double top formation at 96.17, and breaking this level will lead trading into targets that reach towards 92.00.
MACD supports more decline in the upcoming period, while the exponential moving averages 50 and 100 attempt to protect the Dollar Index from suffering more losses.
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Risk: 100.39
Technical Reasons:
Signs of double top pattern appears after the US Dollar Index failed to reach last month’s recorded top at 100.39, which hints a potential reverse at the Index’s track on the short term and medium term basis.
The potential bearish trend scenario begins by breaking the short term bullish trend line and completing drawing the double top formation at 96.17, and breaking this level will lead trading into targets that reach towards 92.00.
MACD supports more decline in the upcoming period, while the exponential moving averages 50 and 100 attempt to protect the Dollar Index from suffering more losses.
www.fxhighway.com
www.facebook.com/fxhighwaycom/
twitter.com/
plus.google.com/1054...15961677289743/posts