{"id":100550,"date":"2017-01-10T05:54:23","date_gmt":"2017-01-10T10:54:23","guid":{"rendered":"http:\/\/countingpips.com\/?p=100550"},"modified":"2017-01-10T05:54:23","modified_gmt":"2017-01-10T10:54:23","slug":"usdidx-us-dollar-index-forex-technical-analysis-january-10-2017","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/01\/usdidx-us-dollar-index-forex-technical-analysis-january-10-2017\/","title":{"rendered":"USDIDX: US dollar index Forex Technical Analysis January 10, 2017"},"content":{"rendered":"<div id=\"inves-1722786829\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">January 10, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\">IFCMarkets<\/a><\/p>\n<p><strong>Investors undecided on the direction of the market movement yet<\/strong><\/p>\n<p>The <a href=\"http:\/\/www.ifcmarkets.com\/en\/trading-conditions\/indices\/usdidx\"> US dollar index <\/a> is correcting down from its 14-year high recorded last week. Will it continue falling? Significant economic data in the US are expected only on Friday.<\/p>\n<p>The weakening of the US dollar started on January 4, 2017 after the publication of the Fed December meeting minutes. They indicated a likelihood of an increase in inflation risks on the background of accelerated economic growth and possible reduction of the US corporate tax burden in case of an approval of the economic program of the new US president Donald Trump. Some investors even declared about the \u201coverheating\u201d risks of the US economy. Another factors in favor of the possible correction of the US dollar index may become data on the US labor market. In 2016, the average increase in the number of new jobs in nonfarm payrolls was 180, 000 per month. This is significantly less than the corresponding indictor of 2015 which was 229,000 per month. The slowdown in the creation of new jobs may also indicate about the risks of \u201coverheating\u201d and \u201cfull employment\u201d. Note that inflation in the US reached 2, 1% and has already exceeded the Fed\u2019s target level of 2%. Theoretically, such economic indicators can limit the potential of rate hike.<\/p>\n<p style=\"text-align: center; margin-bottom: 20px; margin-top: 20px;\"><img decoding=\"async\" style=\"float: none;\" src=\"http:\/\/www.ifcmarkets.com\/uploads\/images\/09-01-2017.png\" alt=\"USDIDX\" width=\"660px\" \/><\/p>\n<p class=\"emailSummary\">On the daily chart <b>USDIDX: D1<\/b>has ended the downtrend and is correcting down from its 14 \u2013 year high. Further decrease is possible in case of the publication of negative economic data in the US.<\/p>\n<ul class=\"emailSummary\">\n<li><b>Parabolic indicator<\/b>gives a bearish signal.<\/li>\n<li><a href=\"http:\/\/www.ifcmarkets.com\/en\/bolinger-bands\">Bollinger bands<\/a> have widened which indicates high volatility.<\/li>\n<li><a href=\"http:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/rsi\">RSI indicator<\/a> is below 50. It has formed negative divergence.<\/li>\n<li><a href=\"http:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/macd\">MACD indicator<\/a> gives a bearish signal.<\/li>\n<\/ul>\n<p>The bearish momentum may develop in case <b>USDIDX<\/b> falls below the last fractal low at 101, 2. This level may serve as the point of entry. The initial stop-loss may be placed above the 14 \u2013 year high and the Parabolic signal at 103, 9. Psychological levels of 101 and 104 can also be used. After opening the pending order we shall move the stop to the next fractal high following the Parabolic and Bollinger signals. Thus, we are changing the probable profit\/loss ratio to the breakeven point. The most risk-averse traders may switch to the 4-hour chart after the trade and place there a stop-loss moving it in the direction of the trade. If the price meets the stop-loss level at 103, 9 without reaching the order at 101, 2, we recommend cancelling the position: the market sustains internal changes which were not taken into account.<\/p><div id=\"inves-3661476168\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<h2 class=\"emailSummary\" style=\"margin-top: 15px !important;\">Summary of technical analysis<\/h2>\n<table style=\"border: solid 1px black;\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Position<\/b><\/td>\n<td align=\"left\" valign=\"top\">Sell<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Sell stop<\/b><\/td>\n<td align=\"left\" valign=\"top\">Below 101,2<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Stop loss<\/b><\/td>\n<td align=\"left\" valign=\"top\">Above 103,9<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Market Analysis provided by <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\">IFCMarkets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By IFCMarkets Investors undecided on the direction of the market movement yet The US dollar index is correcting down from its 14-year high recorded last week. Will it continue falling? Significant economic data in the US are expected only on Friday. The weakening of the US dollar started on January 4, 2017 after the publication [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-100550","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/100550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=100550"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/100550\/revisions"}],"predecessor-version":[{"id":100556,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/100550\/revisions\/100556"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=100550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=100550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=100550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}