The Dollar Index amid negative outlooks – Technical Analysis – 12-10-2015

The US Dollar Index declined last week amid of the continuation of the negative pressure of the moving average 50, to confirm breaking the negative formation support line, which is the rising wedge pattern that appears on chart, accompanied by breaking 95.21 support line that represents 38.2% Fibonacci level for the short term bullish wave measured from 92.52 to 96.87, which puts additional negative pressure.

Thus, we expect witnessing more decline in the coming periods, targeting 94.18 support initially, which represents 61.8% Fibonacci level.