U.S. Dollar IndexShort
USDX approaching resistance, potential drop!
USDX is approaching our first resistance at 93.52 (horizontal pullback resistance, 38.2% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 91.80 (horizontal overlap support, 38.2% Fibonacci retracement).
Stochastic (89,5,3) is also seeing a bearish divergence and is approaching our major resistance where a reaction off this level might be a good precursor for a potential drop in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
Stochastic (89,5,3) is also seeing a bearish divergence and is approaching our major resistance where a reaction off this level might be a good precursor for a potential drop in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
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