empty
 
 

20.05.202214:32 Forex Analysis & Reviews: Trading plan for US dollar index on May 20, 2022

Exchange Rates 20.05.2022 analysis

Technical outlook:

The US dollar index dropped through 102.55 during the late New York session on Thursday before pulling back. The index has since drifted sideways within a contracting triangle (lower degree) and is now looking to drag below the 102.30 initial support. Bears are still looking poised to remain in control in the near term.

The US dollar index is supported around 102.30, followed by 99.65 and lower, while resistance is now in place just above the 104.88 mark. The index is expected to print lower lows and lower highs until prices stay below 104.88 going forward. A break below 102.30 would be seen as confirmation of a trend reversal ahead as bears tighten their grip.

The US dollar index had been producing a strong bearish divergence on the daily RSI since the last two swing highs around 10.80 and 104.88 respectively. The price action seems to be moving towards a potential trend reversal ahead as bears are eyeing 102.30. Potential downside targets are 99.65 and 97.65 levels going forward.

Trading plan:

Potential drop through 99.65 against 105.00

Good luck!

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Oscar Ton,
Analytical expert of InstaForex
© 2007-2022
立即从分析师的建议受益
充值交易账户
开设交易账户

InstaForex分析评论将让您充分了解市场趋势! 作为InstaForex的客户,您将获得大量的免费服务以实现有效的交易。




  • 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
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
    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
现在无法通话?
提出您的问题,用 在线帮助.