FX.co ★ U.S. Dollar Index (USDX) in Forex Trading

Analysis and forecast for trading instrument #USDX This week, the trading instrument US Dollar Index showed a quite good growth, which in the first part was associated with hints of a rate hike, and towards the end of the week the situation with Iran escalated. So at the moment, not only the technical analysis indicates further movement to the North, but the fundamentals also confirm this. Although undoubtedly after such growth, a pullback is also likely, and if lucky, opportunities for buying can be found around the support level of 100.30, which was the maximum of the previous trading week. However, such a correction can be quite deep, so entry points may need to be sought from smaller time periods to confirm the upward movement. As for potential targets for the trading instrument #USDX, it is not so obvious, because the price has been moving to the North for a long time and most of the movements have already been played out. Currently, quotes are trading at their annual highs. But an interesting point is located at the level of 101.90, which was the maximum in May of last year.