Analysts at Commerzbank, believe that a top is in the process of being formed in the US Dollar Index, despite last week bounce. Key Quotes: “The US Dollar Index advanced in five Elliott Waves from its February 2018 low at 88.25 and was rejected by the 97.57/82 area (July 2016 high and 61.8% Fib.). Over the past six months it twice bounced off the 55 month moving average, now at 95.34, but this is likely to be slipped through in the months to come.” “The weekly RSI is still showing negative divergence which points to a possible bearish reversal.” “Downside targets would then be the 94.20/93.71 zone (38.2% Fib. 55 week ma, July & September ’18 lows) and the 93.19/92.98 area (June ’18 low and 50% retracement) and perhaps 92.62/24 (Aug ’15, Nov ’17 and May ’18 lows) and the 91.92 May 2016 trough.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/GBP Technical Analysis: 0.8530 key support to break for bears FX Street 4 years Analysts at Commerzbank, believe that a top is in the process of being formed in the US Dollar Index, despite last week bounce. Key Quotes: "The US Dollar Index advanced in five Elliott Waves from its February 2018 low at 88.25 and was rejected by the 97.57/82 area (July 2016 high and 61.8% Fib.). Over the past six months it twice bounced off the 55 month moving average, now at 95.34, but this is likely to be slipped through in the months to come." "The weekly RSI is still showing negative divergence which points to a possible bearish… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
