USDX: The monthly trend is bullish. There is also an up

Tian Kriek

Analyst


November 13, 2019 02:58 PM

BEARISH

Daily Trading Range: N/A
USDX: The monthly trend is bullish. There is also an up Push Zone according to the Fibs. The Weekly chart is painting a VERY different picture. Even though there is an UP AB Boundary, price has broken the up inner trend line and is now retracing Bearish to the Outer Trend Line suggesting the Up Fib are in a Retracement Zone. There is future support between 12,175 and 12,145. There is a Down AB Boundary on the Daily Chart and once the Counter Trend is Beached then the USD will weaken even further. For the next couple of weeks I do not expect fireworks from the USD Basket. I am waiting for the up 2 Hour Fib Resistance to (D extension) to be hit at 12,365 before price moves South

Daily Chart

Daily Chart

Daily Support and Resistance

Resistance 3: 12.2580
Resistance 2: 12.0000
Resistance 1: 11.8000
Current Price 12.3460
Support 1: 11.7300
Support 2: 11.3330
Support 3: 11.0000

Two Hour Chart

Two Hour Chart
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