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Dollar_index

Focus on MA line (resistance) and trading channel (support)EURUSD is stalling between 1.11 and 1.13 following a down trend line breakout. For about a month now EURUSD has been consolidating and it can end this week with speeches from Draghi, Yellen and the U.S GDP number (impact on the Dollar and therefore EURUSD). 1.12 is the nearest resistance zone - The Fast MA line is the technical element to focus on From below we have the bottom of a trading channel (pink) as potential support. A breakdown of the trading channel will probably lead EURUSD towards 1.11 and maybe even towards 1.1 A breakout above 1.12 will trigger a bullish move that can end with a re-test of the weekly resistance zone 1.14-1.15 Read more about EURUSD, DXY, GLD and SPX in this week's newsletter #WeeklyMarketsAnalysis on Twitter
by themarketzone
1
People buy USD as Comey tension eases and focus shifts to FOMCThe Harmonic Support Zone I mentioned in this week's newsletter. Comey's tension eases, the GBPUSD is crashing down following the UK elections (1.3 was also a resistance zone I mentioned in this week's newsletter) and Investors are starting to buy again with expectations for another rate hike next week. DXY is up and back above 97$ The final target zone of this potential bullish scenario is the 200 days MA line and the re-test of the broken trend line. More updates in next week's newsletter
TVC:DXY
by themarketzone
Dollar Index To Further DropAnalyzing Dollar Index is somthing every trader should do no matter if he or she trades it. The Index affects many pair in our portfolio so having a view on where is about to head helps us in our trading decision. Looking at the 240min chart we may see that obviously is in a downtrend, moving into a descending channel and is now testing a key resistance level, the sliding parallel of the median line. Switch to the hourly chart and wait for a brekout below the correction. Then watch for a sell setup completion which most likely will make Dollar Index drop Hourly structure:
TVC:DXYShort
by Fxprotrader
3