Tuesday, October 10, 2017

Post:0024 US Dollar Index Futures , October 10th 2017

US Dollar Index Futures Analysis

First look at the Yearly time frame; it was clear enough to recognize a symmetrical triangle pattern which achieved it's target (as the book) 103.800 then value descend.

2nd look at the Quarterly time frame; it was clear that major support at 91.

3rd look at the Weekly frame, I started to notice the major resistance at 100 & trend lines became much easier to draw.
Also at the weekly frame with RSI attached; it indicates a very rare bullish signal (rise of an oversold area).

At last, on the daily frame; minor trend lines applied & the daily frame resistance was identified at 94 & the support at 92.5 , if the daily candle close above 94 we may see the beginning of a genuine rise for the US Dollar Index, but I think it will test the support (92.5) first before gaining enough buying power to continue upwards.

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