FX.co ★ Comprehensive Analysis in Trading: Mastering Methodologies

On the currency market, the #USDX index at the lower wave level of the most compressed H1 chart, quotes have closely approached the critical Gonzalez level of 98.40. A breakthrough of which will open the way to the critical level of the beginning of the presumed "initial ascending diagonal". However, if the above-mentioned levels are not broken, now, despite some neighboring markets hitting new extremes, it is the right time to open positions in favor of the US dollar with a stop loss of a couple - a few points. Considering the increased risk, it is recommended to move trades into a breakeven zone. During the analysis, the following were considered: Elliott Wave Analysis (EWA), MACD histogram readings (Moving Average Convergence Divergence), the positioning of Smoothed Moving Averages (periods: 55, 89, 144), as well as a probabilistic assessment of technical and wave analysis models. Priority is given based on correlation with neighboring markets.