US dollar technical price outlook: DXY Short-term trade levels
- USA Dollar technical updated technical trade levels – daily and intraday charts
- USD carves the September range above the uptrend – FOMC tap next week
- Resistance 92.83- 93.18 (key) – Eye support at 92.30, constructive above 92.11
The US dollar index has changed little since the beginning of the week, together DXY trading in the 0.6% range in the middle of the knee reaction US core inflation North-west yesterday. The weekly and monthly opening intervals are set just above the multi-month uptrend, and the battle lines will be drawn next week to decide the FOMC interest rate. These are updated technical targets and repeal levels US dollar Index price chart. Overview my last Strategy webinar for its thorough distribution DXY technical setup and more.
US Dollar Index Price Chart – DXY Daily
Technical outlook: The US dollar index fell 1.9% from its peak in August, before rising slightly before the upward trend in early September. Well-defined monthly opening area has fallen slightly below 50%, and focuses on sharing guidance in a constructive way with a broader perspective, while the lower parallel / 38.2% Fibonacci May held a rally retracing at 92.11.
US dollar index price chart – DXY 120 min
Notes: A closer look at DXY pricing shows that the dollar broke out of a short-term declining channel last week, with the index setting a well-defined range slightly above 61.8% upfront. 92.30. Open monthly resistance kl 92.66 violation of the revealing peaks 93.04 and centerline / 8/27 sing records at 93.18– Look for a bigger reaction IF you get it.
Bottom line: The withdrawal of the US dollar has set the September opening time slightly above the uptrend support. From a trading standpoint, look at the instructions until the break – be exhausted before you run out 92-handle when the price drops lower, if the shutter is higher than the median, which is necessary to increase the new ride in case of a key obstacle when closing the high days of November / August at 93.40 / 45. Review my last one US dollar Weekly price forecast for a more in-depth overview of the longer-term level of DXY technical trade.
For a complete breakdown of Michael’s trading strategy, review his strategy Series Fundamentals of Technical Analysis on Bcultivation a Tradiant Strategy
Major US economic data publications
Economic calendar – recent economic developments and the risk of upcoming events.
Active technical settings
– Written Michael Boutros, Currency strategist with DailyFX
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