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Forecast and levels for Dollar Index - page 10

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Sergey Golubev
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Sergey Golubev  

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Press review

Sergey Golubev, 2018.02.10 08:36

Dollar Index - weekly ranging bearish; 88.25 support is the key (based on the article)

Weekly price is on bearish ranging below Ichimoku cloud and within the following s/r levels:

  • 94.20 resistance level located in the beginning of the medium-term bullish reversal to be started, and
  • 88.25 support level located in the beginning of the berish trend to be resumed.

Descending triangle pattern was formed by the price to be crossed to below, thus - most likely scenario for the next month price movement is the following: the primary bearish trend will be continuing with the secondary ranging way.

Dollar Index

  • "The US Dollar Index (DXY) appeared to be on a one-way course as it continued to aggressively fall through most of 2017 and the start of 2018. However, on January 25, after tapping 88.43, we have seen a bounce that has aligned with the global risk-off move."
  • "Now, the DXY is looking to rise for the second straight week,and a few key technical tests await the US Dollar Index at 91, the 38.2% retracement level of the October-January range followed by 92.58, the 61.8% retracement of the same date range."

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The chart was made on W1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicators from CodeBase:

MaksiGen_Range_Move MTF - indicator for MetaTrader 5


Chris Mukengeshayi
873
Chris Mukengeshayi  
ofwono:


In the above image, I have cycled the indicator that I am interested in with yellow color and in the image below is the Asctrend that I am not interested in

The indicator which you have circled, I think it one of the stochastic arrow indicator, you can search for it within the forum

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