|
Getting your Trinity Audio player ready...
|
Technical analysis for the FXCM dollar index, the index closed with bearish engulfing on the weekly char, breaking below previous daily low at 11 704, resuming the bearish trend. The first target of this breakout is at 2.272 FIB extension at 11 650, the second target is at 2.618 FIB extension at 11 615, the third is at the previous low at 11 567, the fourth is at 11 515.
On the other hand, if the FXMC dollar index break above 11 804 it will invalidate this bearish outlook and send the price higher.
Daily chart:
Weekly chart:
