Daily Study Dollar Index. Important Levels Ahead of News Release
Index is eyeing the Monthly Pivot Point at 12141, yet untraded
after creating an Evening Star Pattern just below Weekly R1.
We might see a bounce off of the Monthly PP since it is also
joined by a trendline starting in June 2015, which has acted
resistance until it was broken in early november. It has since
been tested for support. Note that the Pitchfork drawn from
the August swing low. The lower band will come in around
Weekly S2, close to the Kijun Sen (white medium line).
IF index will close below the Kijun Sen and the Pitchfork
it is likely to see further losses and perhaps a test of the
Monthly S1. However, the lower pitchfork band will join the
Trendline and Monthly PP on friday, which will add support
then, if not broken before.
after creating an Evening Star Pattern just below Weekly R1.
We might see a bounce off of the Monthly PP since it is also
joined by a trendline starting in June 2015, which has acted
resistance until it was broken in early november. It has since
been tested for support. Note that the Pitchfork drawn from
the August swing low. The lower band will come in around
Weekly S2, close to the Kijun Sen (white medium line).
IF index will close below the Kijun Sen and the Pitchfork
it is likely to see further losses and perhaps a test of the
Monthly S1. However, the lower pitchfork band will join the
Trendline and Monthly PP on friday, which will add support
then, if not broken before.