Will the dollar continue its free fall and drop to levels of $ 81-82 or is it a surprise?
Dollar Index Technical analysis
The time has come for all Forex pairs, dollar index in free fall ……. but!
The US Dollar Index (DXY) was under pressure since last December The sharp selloff erased the prior four weeks of gains in DXY but we have a lot of activity this week, and the trend could change easily
We saw on May 2016 rebound :"After The dollar index fell in 2.5.2016 below 92 this month for the first time since January 2015, he made rebound and jump almost 4 % since then ,dollar index price now 95.15dollar index which measures the dollar against a basket of currencies, rallied to its highest since late March on chances for an interest rate rise soon, "
look on the forex pairs and see their massive move since Dec 2017 -There are pairs that have made a move of more than 6 percent - it's a lot for such a short period
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| Dollar index vs forex |
DXY Technical analysis
look on the charts we can see strong support at 89 +_ this level served resistance throughout many years and provided support also, dollar index rate should keep above those level to confirm more upside, fall through could take it to the next support level of 81-82$ ,dollar index rate also is expected to find its first resistance at 92.40-60, and a rise through could take it to the next resistance level of 94, corrections move will probably send the dollar index rate at least to 92.60 area for a test
don't surprise if we will see dollar index price going lower over the last lows 89 area, still to come test 81-82 area -break down again those levels, and holding above should give the dollar index prices to see lowers level and even new record the if dollar will hold above 89 - it’s all open
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| DXY analysis |
This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice
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