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27.03.202306:23 Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of United States Dollar Currency index, Monday March 27 2023.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 27.03.2023 analysis

If we look on the daily chart of USD index, then there will be a few interesting things:

1. There is a deviation between price movement with Awesome Oscillator indicator.

2. The form of Bearish 123 Pattern followed by the appearance of Ross Hook (RH).

Based on those things mentioned above, seems like the US Dollar Index in a few days ahead will try to breaks below the level 101,89 and if successfully broken below then #USDX has the potential to continue its weakness to the level 101,03 as the main target and area level 99,92-98,71 as the second target with the notes that if on its way to the level target mentioned before there is no upward correction passed throig the level 105,87, because if this level successfully broken above then all the downward scenario descreibed earlier will cancel itself.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
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