Forex

US Dollar Index technical analysis: DXY gaining some ground above the 97.50 mark

Google+ Pinterest LinkedIn Tumblr

DXY daily chart

The US Dollar Index (DXY) is trading in a bull trend above its main simple moving averages (SMAs). The index reached 97.70 on Wednesday but gave back some of its gains on the back of comments from US President Trump. It has been reported that tariffs might be delayed on autos.

DXY 4-hour chart

The market is building its way up above the 50 and 200 SMAs. The 97.74 and 98.10 resistances remain potential targets to the upside. 

DXY 30-minute chart

DXY is trading above its main SMAs suggesting bullish momentum in the near term. Buyers will try to break 97.74 to reach 97.90 and 98.10 to the upside. Support is seen at 97.74 and 97.30 price level.


Additional key levels

Click here to go to original post. All content rights reserved to the original source owner.

FXStreet, where Forex never rests Forex Traders do sleep but markets don’t. When a trader has just woke up and logs on in Boston, another one located in Tokyo is winding down for the day, while a third one in London finishes lunch and waits for Wall Street’s opening bell. And you are maybe yourself waiting for an economic figure to be released or thinking about where to put the stop loss on your last trade.

Write A Comment