USDX is still losing value where the price reached the demand zone around 103.31 and then retracted back to 104.20 supply zone. From there the price was pushed back down
USDX is still losing value where the price reached the demand zone around 103.31 and then retracted back to 104.20 supply zone. From there the price was pushed back down
and currently is heading again to the 103.31 demand zone.
USDX has lost bullish strength from the 107.12 price level and since then it is dropping down.
The demand zone 102.85 is likely to be reached in the following week.
The lower price level is also reachable, but before that happens it is good to wait until the price makes a breakout below 102.85.
Weekly and monthly level shows that the price will likely move down and 102.18 is the first level where we can expect price to stop.
Any Advice or information is General Advice Only – It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by author. Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures, spot Forex, CFD’s, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material provided by this author. The past performance of any trading system or methodology is not necessarily indicative of future results.
High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in Forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained in this article, is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.
Comments
Log in or sign up to join the conversation.