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10.10.202315:22 Analisis Forex & Kajian: Technical analysis on the Dollar index for October 10th, 2023.

Exchange Rates 10.10.2023 analysis

Blue lines- Fibonacci retracement levels

Last week we noted the shooting star bearish pattern and the rejection at the 50% Fibonacci retracement in the weekly chart of the Dollar index. Although this week started with a bounce, the index is again under pressure. Bulls need to be very cautious because if this week ends with a black candlestick, this confirms the bearish shooting star candlestick pattern and suggests more downside should follow. USDX has been on an extended run higher for many weeks. Is this the time for a reversal? The chances are high for a pull back and all technical indicators justify a turn lower. The recent low at 105.63 is key short-term support. A daily close below this level will increase the chances of a deeper decline.

* Analisis pasaran yang disiarkan di sini adalah bertujuan untuk meningkatkan kesedaran anda, tetapi tidak untuk memberi arahan untuk membuat perdagangan.

Alexandros Yfantis,
Analytical expert of InstaSpot
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