Dollar Index (DXY) continues to move as part of the growth and upward channel. Moving averages indicate a short-term bullish trend on the DXY index. Prices pushed from the area between the signal lines, which indicates pressure from buyers of the indices. At the time of publication of the forecast, the cost of the index is 97.67. As part of the FOREX forecast, we should expect an attempt to develop a correction and a test of the support level near the area of 97.15. Further, the rebound and continued growth in the value of the DXY index. The potential target of this movement is the area above the level of 98.65.
Dollar Index Forecast and Analysis DXY January 28, 2020
An additional signal in favor of the growth of DXY quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the ascending channel. The cancellation of the growth option for the quotes of the Dollar Index will be a fall and a breakdown of the level of 96.45. This will indicate a breakdown of the support area and continued fall into the area at the level of 95.95. Expect acceleration of growth should be with the breakdown of the resistance area and closing above 98.25.
Dollar Index Forecast and Analysis DXY January 28, 2020 suggests the development of a correction and test of the support area near the level of 97.15. Where can we expect a rebound and an attempt to continue the growth of the pair in the region above the level of 98.65. A test of the trend line on the relative strength index (RSI) will be in favor of the rise in the currency pair. Cancellation of the growth option for the DXY index will be a fall and a breakdown of the level of 96.45. This will indicate a breakdown of support and a continued fall in the value of the index in the region below the level of 95.95.
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