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[US Dollar Index]
Although all technical indicators show that sellers are quite dominant, indicating a potential move toward its nearest support level, today is a national holiday for Thanksgiving Day, which may lead to reduced volatility in the market, especially during the U.S. session.
Key Levels
1. Resistance. 2 : 100.07
2. Resistance. 1 : 99.81
3. Pivot : 99.67
4. Support. 1 : 99.41
5. Support. 2 : 99.27
Tactical Scenario:
Pressure Zone: If the price breaks down and closes below 99.41, #USDX has the potential to test 99.27.
Momentum Extension Bias: If 99.27 is broken and closes below, #USDX will likely continue its decline to 99.01.
Invalidation Level / Bias Revision:
The downside bias is restrained if the price of #USDX strengthens and breaks out to close above 100.07.
Technical Summary:
EMA(50) : 99.68
EMA(200): 99.85
RSI(14) : 30.59
Economic News Release Agenda:
Today is a national holiday for Thanksgiving Day in the United States, so no economic data will be released. Please be cautious of low volatility when the U.S. session opens today.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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