Dollar Index Weekly Outlook -  waiting for direction to break the levels

Dollar Index Weekly Outlook - waiting for direction to break the levels

23 October 2015, 06:11
Sergey Golubev
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Weekly price is on bullish market condition for the secondary ranging which was started in the beginning of May this year:

  • the price is located above 100-period SMA and above 200-period SMA for the ranging between 100.39 resistance level and 92.62 support level;
  • nearest support levels to be broken are 93.81 and 92.62;
  • nearest resistance levels are 96.70 (W1) and 69.57 (W1).

Resistance
Support
96.70 (W1)
93.81 (W1)
100.39 (W1)
92.62 (W1)
  • if weekly price breaks 100.39 resistance so the bullish trend will be continuing;
  • if weekly price breaks 92.62 support level so the secondary correction within the primary bullish market condition will be started;
  • if not so the price will be moved within the levels.
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