empty
 
 
30.10.2020 07:56 AM
Trading plan for US Dollar Index for October 30, 2020

This image is no longer relevant

Technical outlook:

The US dollar index continued its rally to print a 94.10 high before pulling back lower. The index is seen to be trading around the 93.85 level at this point in writing and is expected to continue higher towards 94.50 in the short term. Immediate support is seen at 92.40 and 91.75, while resistance is fixed around 94.75 respectively. Any pullback lower should remain well capped above 92.40 level and ideally the US dollar index should find some support around 93.50 today. A push above 94.75 would be considered encouraging to bulls to push higher towards 95.00. Only a drop below 92.40 would threaten the above bullish setup and push prices lower towards 91.75 and further.

Trading plan:

Remain long, stop @ 91.75 target @ 96.00

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback