Trade Pattern Ideas

Dollar.IDX/USD 4H Chart: Moving towards target at 97.33
Tue, 17 Sep 2019 06:06:18 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)NeutralNeutralNeutral
SAR(0.02;0.2)BuySellSell
Aggregate

The Dollar index has been edging low against the US Dollar since the beginning of September after the pair reversed from the upper boundary of a descending channel pattern at 99.32. The pair tested the bottom border of a dominant ascending channel at 97.52 on September 13.

As for the near future, the Dollar.IDX/USD pair will likely continue to trade in the descending channel pattern. The possible target for the exchange rate would be at a support cluster formed by the combination of the weekly and the monthly pivot points at 97.33.

If the support cluster holds, a potential upside reversal could occur within the following trading sessions.


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