USDX: Good fundamentals from the US is sending the USD

Tian Kriek

Analyst


May 21, 2019 03:50 AM

BEARISH

Daily Trading Range: N/A
USDX: Good fundamentals from the US is sending the USD basket higher even though the Fed is rather Dovish. Any global risk aversion will create a bid for the USD   The Daily D has been hit so I have to aknowledge that the USD is overbought Important Note: The US raised Tarriffs on Chinese imports by 25% last Friday. This means: - JPY Strength - CHF Strength - USD Strength - AUD Weakness - NZD Weakness - Emerging Market Currencies Weakness

Daily Chart

Daily Chart

Daily Support and Resistance

Resistance 3: 12.2580
Resistance 2: 12.0000
Resistance 1: 11.8000
Current Price 12.3530
Support 1: 11.7300
Support 2: 11.3330
Support 3: 11.0000

Two Hour Chart

Two Hour Chart
The market is moving can you keep up?