Technical analysis of USDX for January 4, 2017

The Dollar index made a new high but it was not confirmed by the RSI. The divergence pattern in RSI during the new highs is worrying for bulls specially if price breaks below 102.20. There are a lot of chances we saw a fake breakout and rejection.

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Blue line – resistance

Green line – support

The RSI is diverging on the 4 hour chart. A break below short-term support of 102.20 will give a new stronger sell signal that will at least push prices towards the next important support at 100. So bulls should be very cautious if price breaks below the 4-hour cloud and the green trend line support.

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The Dollar index is expected to make a pullback towards the 38% Fibonacci retracement near 100. Longer-term trend remains bullish. Only a break below 98 could put the long-term trend in danger. Oscillators are overbought and some relief is expected to be seen there.The material has been provided by InstaForex Company – www.instaforex.com

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U.S. Dollar Edges Down Against Majors

The U.S. dollar dropped against its major rivals in early European trading on Wednesday.

The greenback pared gains to 117.68 against the yen and 1.0252 against the franc, from its early highs of 118.19 and 1.0291, respectively.

The greenback edged down to 1.0440 against the euro and 1.2287 against the pound, off its previous highs of 1.0405 and 1.2237, respectively.

The next possible support for the greenback may be found around 116.00 against the yen, 1.01 against the franc, 1.06 against the euro and 1.24 against the pound.

The material has been provided by InstaForex Company – www.instaforex.com

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French Consumer Confidence Highest Since Oct 2007

French consumer sentiment held steady at its highest level in more than nine years in December, the statistical office Insee reported Wednesday.

The consumer confidence index came in at 99.0 in December, the same reading as in November, which was revised up from 98.0. The figure also matched consensus estimate.

Moreover, the latest score was the highest since October 2007, when it was 100.0

Households’ opinion of their personal financial situation in the past twelve months improved slightly in December, with the index rising to -22 from -24 in November. At the same, their outlook remained stable at -8.

Similarly, the current saving capacity indicator remained unchanged at 7 in December, while the expected saving capacity dropped by 1 points to -7.

In December, households’ opinion of their past standard of living in France worsened after an improvement in November. The corresponding index fell to -53 from -49. On the other hand, the indicator for future standard of living improved slightly to -24 from -25.

Households’ fears concerning unemployment eased further in December. The respective index fell to 21 from 26.

Consumers were many more numerous than in November to consider that prices should increase during the next twelve months, with the index rising by 11 points to -29 from -40.

The material has been provided by InstaForex Company – www.instaforex.com

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التحليل الفني للفضة 04/01/2017

الفضة سعر الفضة نجح باختراق مستوى 16.15 والثبات فوقه، واقترب بشكل كبير من هدفنا الرئيسي الأول 16.56، وهذا يعزز توقعاتنا باستمرار الميل الصاعد على المدى اللحظي والقصير، بانتظار اختراق المستوى الأخير لفتح الطريق أمام التوجه نحو 17.43 كهدف رئيسي تالي. المتوسط المتحرك 50 يقدم دعم إيجابي جيد للموجة الصاعدة المقترحة، والتي يشترط استمرارها الثبات فوق مستوى […]

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التحليل الفني للنفط 04/01/2017

النفط سعر النفط تكبد خسائر قوية بالأمس بعد اختبار القمة المسجلة مؤخراً عند 55.27، ليقترب من ملامسة حاجز 52.00 دولار للبرميل، مع ملاحظة أن هذا الانخفاض توقف عند مستوى المقاومة المخترق سابقاً والذي يتحول إلى دعم قوي كما يظهر بالصورة، مما يقدم فرص إيجابية لاستئناف الاتجاه الرئيسي الصاعد خلال الجلسات القادمة، خصوصاً وأن مؤشر ستوكاستيك […]

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Fxwirepro: Xag/usd Hits Fresh 3-Week High at $16.47, Fomc Meeting Minutes in Focus

  • XAG/USD is currently trading around $16.38 marks.
     
  • It made intraday high at $16.41 and low at $15.23 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at $15.86 levels.
     
  • A daily close above $16.27 will test key resistances at $16.47/$16.62/$16.76 marks respectively.
     
  • On the other side, a daily close below $16.27 will take the parity down towards key supports at $16.20/$16.05/$15.95/$15.86/$15.74/$15.66/$15.54/$15.32/$15.01 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to go short on XAG/USD around $16.40 with stop loss at $16.52 and target of $16.27/$16.05.

The material has been provided by InstaForex Company – www.instaforex.com

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