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1/18/2016 2:27:15 AM

U.S. dollar index readies to rise - Technical Analysis - 18-01-2016



The U.S. dollar index rose in its intraday levels trading, with the positive support of the SMA for the last 50 days period, and the overall dominance of the upward trend line. The index is trading along an upward trend line, with the pivotal support of 98.30 holding on, and with an influx of positive signals from relative power indicators like the Stochastic as shown below the attached chart, readying thereafter to attack the important resistance of 99.72.

We expect that, if the index broke through the resistance of 99.72, it'll keep going up to target the pivotal resistance of 100.88.


Target
Risk


Support
Resistance


Trend Bullish

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