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FX.co ★ Technical analysis on USDX for June 19, 2018

Technical analysis on USDX for June 19, 2018

The Dollar index remains near its highs. Trend remains bullish. There are bearish divergence signs that provide a warning for Dollar bulls. Short-term support at 94.20-94 is important for the short-term trend. As long as price is above this level we could see a move higher towards 95.70. The next big move in the Dollar index will be to the downside.

Technical analysis on USDX for June 19, 2018

Red line - support

Yellow line - bearish divergence

The new high in the Dollar index was not confirmed by the RSI. This is not a reversal signal but only a warning for bulls. For this up trend to remain intact, the index must not break below 93.20. A break below 93.20 will confirm that the trend has changed to bearish. I expect the Dollar index to make an important change of trend similar to the start of the year bottom and upward reversal, only this time to the downside.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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