
Dollar Index Weekly Outlook - waiting for direction to break the levels
23 October 2015, 06:11

0
1 305
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.