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1/25/2016 2:21:11 AM

U.S. dollar index prepares to take on an important resistance - Technical analysis - 25-01-2016

The U.S. dollar index kept rising in the intraday levels, with the overall guidance of the main upward trend in the short term, and with positive support from the SMA for the last 50 days period, readying thereafter to tackle the important resistance of 99.72, opening the door for more gains, while noting a venting-off of that overbought saturation in relative power indicators, and an influx of negative signals that are contradictory to the index' upward movement, which is a positive signal.

Therefore we expect more gains to come for greenback index, as long as it breaks through the resistance of 99.72 first, targeting thereafter the resistance of 100.88.



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