11/02/2016

The highest dollar index Resistance level reached and a bearish trend begins

The highest dollar index (DXY) Resistance level reached and a bearish trend begins. At the Asian session, the dollar index hovered around 97.70 level. After the previous day's declines, the dollar index is currently traded in a a narrow range at a low level and shows signs of a slight decline .
  Asia City early the trading day, the dollar index was essentially flat, fell 0.7 percent compared to the previous day, the main risk for the US election uncertainty. Traders pointed out that in the Asia-Pacific Session, the trading day weaker market conditions, E-Mini S & P futures fell 0.2 percent, West Texas Intermediate crude oil (WTI) fell 0.6 percent, the Nikkei index fell 1.2%, MSCI MSCI Asia-Pacific ( Japan) index fell 1% addition. Technically, the trader said the dollar index 5 and 10 days moving average peaked 20-day moving average to go up, the dollar bearish pattern established. Traders also pointed out that if the dollar index closed below the 20-day moving average 97.97, compared with the short signal, objective look at 97.19, the level of the exchange rate from August to October, 38.2% retracement of the rally. Finally, traders said the dollar index initial support at the previous day's New York session low of 97.64, the initial resistance at the previous day's declined 3.2% to support of 97.95. Resistance 3 99.11 Resistance 2 98.79 Resistance 1 98.27 Pivot 97.95 Support 1 97.43 Support 2 97.11 Support 3 96.59
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