USDX: The Bullish Up trend on the Monthly time frame has

Tian Kriek

Analyst


January 27, 2020 05:46 AM

BULLISH

Daily Trading Range: N/A
USDX: The Bullish Up trend on the Monthly time frame has been broken. If a Monthly candle closes below the trend line then the Bearish probability will be confirmed. 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 Fibs are in a Retracement Zone. There is future support at 12,175. There is a Down AB Boundary on the Daily Chart and once the Counter Trend is Breached then the USD will weaken even further. On the 2 Hour time frame I can see signs that the USD will strengthen before continuing South as indicated by the Daily time frame.. Get this chart and analysis for free. Copy and Paste the following link in your browser: https://smarttrader.com/charts/tkriek/tk-aod-workspaces-23-jan/

Daily Chart

Daily Chart

Daily Support and Resistance

Resistance 3: 12.2580
Resistance 2: 12.0000
Resistance 1: 11.8000
Current Price 12.3180
Support 1: 11.7300
Support 2: 11.3330
Support 3: 11.0000

Two Hour Chart

Two Hour Chart
10 Keys to Successful Forex Trading