we hope you are trading well)
Let’s take a look to monthly resistance and support levels for EURUSD and Dollar Index.
According ForexTeam technical analysis, we see the following monthly price levels:
RESISTANCE = 1.1904-1.1942
SUPPORT = 1.1646-1.1590
If daily close price for EUR USD will be under 1.1794 than we are awaiting more bears pressure till price level 1.16
RESISTANCE = 94.6 – 94.74
SUPPORT = 92.89 – 92.34
If daily close price for Dollar Index will be above 93.27 than we are awaiting more bulls pressure till price level 94.6
P.S. ForexTeam sold EUR USD from 1.1835 and 1.1793 with TP1=1.16
here we are with the new USD index weekly report.
ForexTeam traders think that at present time (august-september) it could be price rebound from support level 93.00, the same picture like in Dec. 2016 – Jan. 2017, but now from other side.
Importaint resistance levels:
RES 1 = 94.64
RES 2 = 96.67
RES 3 = 97.87
Have a good week!
ForexTeam traders are watching now for USD Index consolidation and rebound pattern to develop. At the end of July 2017 we can expect one more leg down to support level 93, it is the lower edge of the band 93-100, developed from 2015.
95.10 – is the next resistance target for rebound from 93 support level.
ForexTeam technical analysis in pictures)
Price behavior ahead of and after today’s key US macro news: US inflation figures. ForexTeam plan such scenario like on the picture below.
it is h0000t forex summer!
According ForexTeam technical analysis, for July 2017 USD Index pressed in price channel 96.90-95.10. Pay attention on this resistance / support levels.
If USD index goes up to 96.90, than we will sell EURUSD, GBPUSD and Gold and if USD index goes down to 95.10, than we will buy the same financial assets.
From technical point of view, ForexTeam think that potential downside for EURUSD and GBPUSD remains limited.
EURUSD Support levels: 1.1380, 1.1345, 1.1280
GBPUSD Support levels: 1.2840, 1.2810, 1.2750
USD Index this week could test resistance level: 96.30-96.50 with possible rejection.
As we wrote earlier in our usd index weekly review, we expected that resistance level 96.50 will hold and bulls will “sucX”. As you all see, bulls “sucX”.
Let see how close the daily price today 😉