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11/6/2015 3:27:23 AM

The Dollar Index continues to rise – Technical Analysis – 06-11-2015



The US Dollar Index showed more rise within short term ascending channel, supported by the moving average 50, settling above the key support 97.75, noticing the attempts to drain the overbought signals that appear on the relative strength indexes, besides forming negative divergence on stochastic, which signals gathering positive momentum that assist it to continue achieving gains.

Therefore, we expect the continuation of rising in the coming trading, especially in case breaching 98.20 resistance, to target 98.64 level directly.


Target
Risk


Support
Resistance


Trend Bullish

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