FX.co ★ bryana.reichert | U.S. Dollar Index (USDX) in Forex Trading

Analysis and forecast for trading instrument #USDX based on technical analysis This week, there is not much clarity yet on the trading instrument US Dollar Index. The price is trading in a relatively narrow range after a good impulse last Friday led to decent growth. That is why I still expect that after this consolidation, we will ultimately see a continuation of the movement to the North. Overall, around the lower boundary of the range at 99.80, it was already possible to consider opening long positions. Although the situation will look much more attractive if the price drops to the support level at 99.50, in that case, confirmation will need to be awaited, as the correction will be too deep and will essentially nullify all the Friday movement. As for the growth targets of the trading instrument #USDX, movement towards the level around 100.50 can be assumed, but when the correction is confirmed, then Fibonacci retracement levels can be applied more accurately, targeting the 161st level. Sales will only be possible in the event of a break of the current ascending channel.