The U.S. dollar forms a double bottom, and the short-term counterattack is expected to continue

The dollar index trend, the chart shows that the MACD indicator also broke the signal line, and the U.S. index not only broke through the MA-100, but also broke through the 91.60 peak at the beginning of February. It is expected that the U.S. index can maintain this neckline position this week. It is expected to continue to extend the uptrend with a double bottom posture. Based on the cumulative decline since November last year, the 61.8% rebound level is 92.35. The larger resistance level refers to the high of 94.31 and even the 95 mark in November last year. As for the downside, except for the 91.60 level, greater support will refer to the 90 mark and the low at the beginning of the year 89.21.

The trend of the euro against the dollar, the technical chart shows that the RSI and the stochastic index are falling. The exchange rate even fell below the February low of 1.1950 last week. It is expected that the euro against the dollar will still see downward pressure this week. Calculated by the golden ratio, the 61.8% take-off range will be seen to the 1.1885 level. For greater support, refer to the 1.16 level maintained in November last year. As for the upper resistance estimated at 1.1950 and the MA-10 of1.2080, the larger resistance is expected to be theMA-50 of 1.2130.

Estimated volatility:
Resistance 1.1950 - 1.2080 - 1.2130
Support 1.1885-1.1600

Any questions? contact our professional analysis team
Instant online conversation


EMPEROR VIP CENTRE : Room 801, 8th Floor, Emperor Group Centre, 288 Hennessy Road, Wanchai, Hong Kong
Hot Line: (852) 9262 1888 / (86) 135 6070 1133
Copyright © MW801.COM.