USDINDEX Daily Forecast Oct 23 2018


USDINDEX: Risk Remains Higher To 96.00 Level…

as long as 95.18 support holds on a daily closing basis, the U.S dollar index remains on the upside to 96.00 level, a halt is likely and it may test 95.68 level before attempts to break above 96.00 level, anyway; above 96.00 will aim 96.44 level, further upside, resistance comes at 97.10 level.

On the downside, below 95.18 will reverse risk to the downside to 94.58 level, it may turn higher from here but if this fails to happen, it will decline to 94.13 level, further down, support stands at 93.85 level.

Conclusion: The U.S dollar index sees upside threats above 95.18 level with a risk to 66.00 level, below 95.18 sees pullback threats to 94.58 level before another rise…

Support: 95.18, 94.58, 94.13, 93.85

Resistance: 95.70, 96.00, 96.44, 97.10

Note: as long as the index trades above 59.18 on a daily closing basis, the EURUSD will remain under heavy pressure…