DOLLAR.IDX/USD 4H Chart: Likely to maintain channel - Trade Pattern Ideas - Dukascopy Bank
Tue, 17 Dec 2019 06:37:32 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Buy
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇘
⇘
⇘
The dollar index, which measures the US Dollar against a basket of major currencies has been depreciating in a descending channel pattern since the beginning of December. The currency pair has declined by 2.15% in value during this past two weeks.
Everything being equal, the Dollar.IDX/USD pair will most likely maintain the descending channel within this week's trading sessions. The potential target will be at the 95.74 area.
However, a support cluster formed by the weekly S1 and the monthly S2 near the 96.25 zones could provide support for the pair during the following trading sessions.
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