Dollar.IDX 4H Chart: Targets at 95.84 - Trade Pattern Ideas - Dukascopy Bank
Mon, 08 Oct 2018 06:39:40 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Buy
Sell
N/A
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Neutral
Neutral
Neutral
Alligator (13; 8; 5)
Buy
Neutral
Sell
SAR (0.02; 0.2)
Sell
Sell
Sell
Aggregate
⇒
⇒
⇒
The Dollar index has been appreciating in an ascending channel pattern since the middle of September. The pair bounced off its lower boundary of the channel on September 20 and had since breached a one-month swing high at 95.84.
The Dollar.IDX.USD opens above the weekly pivot point at 95.24 during Monday's session. From a theoretical point of view, the next target for the pair will be near a resistance cluster formed by the weekly and the monthly PPs at 95.86.
However, if the support level formed by the weekly PP at 95.24 is unable to hold, the pair will continue its downside movement and aim at the 50-hour simple moving average at 94.73 during the following trading sessions.
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