Technical Analysis

DXY & EURO: Two simple classical charts, have a look!


The weekly charts for DXY (U.S. Dollar Index) and EURUSD reflect one of the most important technical principles when it comes to classical studies.

The chart to the left shows how EURO vs. Dollar has formed a long shadow just from the support zones- previous resistances- in addition to being protected and carried by SMA200 from the underside. Hence, more bullishness to be seen over upcoming periods chiefly targeting 1.20 psychological and 1.2130 respectively as far as 1.1500 zones hold.

The DXY also has retraced from strong resistance, which intersected with SMA200 opening the door for further debasement.

Assessing momentum indicators, Stochastic support our overview very clearly. 

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