empty
 
 
fr
Assistance
Ouverture rapide de compte
Plateforme de trading
Déposer / Retirer

21.09.202213:56 Forex Analysis & Reviews: New 2022 highs for the Dollar index. Is this trend sustainable?

Exchange Rates 21.09.2022 analysis

Red lines- bullish channel

Blue line- bearish RSI divergence

The Dollar index ahead of the FOMC meeting later today, is making new 2022 highs. The RSI continues to provide bearish divergence warning signals. This implies that the up trend is weakening. It is not a reversal signal. It is a warning. That is why traders need to be very cautious. Technically trend remains bullish as price remains inside the upward sloping channel. However it is justified to see a bigger than usual pull back at least towards 106. Will the trigger be today's FOMC? Traders need to remain patient. Even a pull back towards 106 will not cancel the bullish medium-term trend we are in. Price will still be inside the bullish channel.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Alexandros Yfantis,
Analytical expert of InstaSpot
© 2007-2025
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

Can't speak right now?
Ask your question in the chat.