Dollar.IDX/USD 4H Chart: Stranded between SMAs - Trade Pattern Ideas - Dukascopy Bank
Tue, 08 Oct 2019 05:26:29 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Buy
Neutral
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇒
⇗
⇘
The dollar index which measures the US Dollar against a basket of major currencies has been appreciating after the pair reversed from the lower boundary of an ascending channel pattern at 97.80 since September 20.
The Dollar.IDX/USD pair is currently stranded between the 55– hour simple moving average at 98.66 and the 100– and 200– period SMAs at 98.41.
Technical indicators suggest bullish signals on the daily time-frame. Therefore, the pair could edge up within this week's trading sessions.
However, a resistance cluster formed by the weekly and the monthly PPs at 98.71 could pressure the par south during the following trading sessions.
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