• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Economy

Dollar Index Analysis: Strong Uptrend Faces Resistance Level

by November 15, 2024
written by November 15, 2024

Overall Analysis

The Dollar Index continues its rally to the upside, with price action showing weakness on the daily and hourly time frames.

Chart Analysis

USD 15-Minute Time Frame

On November 11, 2024, the Dollar Index increased by 0.50%, currently trending upwards within a channel. The price might face strong rejection at the 105.77 level, as the previous swing high will act as resistance.

On the daily time frame, the price broke out of a flag-and-pole pattern on November 6, 2024, and continued its rally. Currently, the price might face rejection at the 105.77 level, which is a strong resistance area. The price has moved up without pausing. However, it needs to close above the 105.77 level on the daily chart to continue the uptrend.

On the 1-hour time frame, a strong upward channel is visible, creating key support and resistance levels. If the price fails to stay within the channel and breaks down, selling pressure could push the price down to the 104.80 level.

In the 15-minute time frame, there is strong momentum for the uptrend within the channel structure. Compared to the hourly and daily time frames, the 15-minute time frame shows more strength.

Overall, on higher time frames, the price has moved up quickly without forming significant swings or pauses, weakening the trend. In contrast, the 15-minute time frame has shown proper swings and enough pauses, making it safer for short-term traders.

Entry Triggers

For potential entries, here are the triggers to consider:

If the price on the 15-minute time frame breaks the supporting trendline and sustains below it, sellers may consider entering the trade with a stop loss above the previous swing high and target levels at 105.30 and 104.90, based on a trailing stop.
On the daily time frame, if the price closes above the 105.77 level, positional buyers may consider entering the trade with a stop loss below the previous candle’s low, targeting 106.31 and 107.03 on a trailing basis.
On the 1-hour time frame, if the price breaks the supporting trendline and continues below it, sellers may consider entering the trade with a stop loss above the previous swing high and a target of 104.80.

The post Dollar Index Analysis: Strong Uptrend Faces Resistance Level appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
USD/CHF in a strong up trend; USD/JPY breaks out of the zone
next post
Oil and Natural Gas Analysis: Price Decline Continues

related articles

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Buy Bitcoin Under $100K Before The Next Bull...

April 22, 2025

BNB Price Surge Leads Crypto Gains as Bitcoin...

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

April 21, 2025

Bitcoin Slips to $83.6K Amid Nvidia’s $5.5B Charge

April 21, 2025

Gold Price Surge Hits $3,385 Amid Trade Tensions

April 21, 2025

Bitcoin Rebounds to $83,404 Amid Renewed Investor Confidence

April 21, 2025

Memecoins, AI, and DeFi Tokens Lead Crypto Rebound

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • China’s secret weapon in the space race is already hurting us

    November 27, 2024
  • Vance needs to fix ‘off-putting’ comments or Trump campaign is ‘doomed,’ say undecided and GOP women voters

    August 6, 2024
  • Dem bid to end Trump energy emergency squashed after forced Senate vote

    February 27, 2025
  • Mike Huckabee confirmed as US ambassador to Israel in bipartisan vote

    April 9, 2025
  • Will Trump White House rescue TikTok from looming ban? President-elect has done a 180 on the app

    November 15, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,723)
  • Investing (624)
  • Stock (773)

Latest Posts

  • Vance hits campaign trail as Harris team scrambles to consolidate Dem support

    July 22, 2024
  • Musk offers ‘another chance’ to respond to productivity email, but warns failure again means termination

    February 25, 2025
  • JD Vance honors his mother at White House for reaching 10 years sobriety

    April 7, 2025

Recent Posts

  • House Dem goes on screaming rant against Elon Musk, DOGE: ‘Shame!’

    March 13, 2025
  • Who could lead Ukraine if Zelenskyy resigns?

    March 1, 2025
  • Disgraced lawyer Michael Avenatti seeks mercy at resentencing, citing ‘model inmate’ record

    May 7, 2025

Editor’s Pick

  • President Trump urged to pardon 76-year-old grandmother, others in prison for pro-life activism

    January 21, 2025
  • AUDUSD and AUDNZD: New Weekly Targets and Prices

    October 14, 2024
  • With Trump digital coins, billions of dollars — and crypto’s credibility — are at stake

    January 22, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock