empty
07.11.2022 03:20 PM
DXY Technical Analysis and Trading Tips for November 7, 2022

This image is no longer relevant

At the beginning of today's European trading session, the dollar is falling again, and the DXY dollar index has again moved into the "red" zone, dropping below Friday's low of 110.61 to 110.31 as of writing.

On Friday, the sellers managed to push the price below important support levels 111.55 (200 EMA on the 1-hour chart), 111.39 (200 EMA on the 4-hour chart), 110.80 (50 EMA on the daily chart).

This image is no longer relevant

The nearest support lies at the levels of 109.63, 109.00. Their breakdown will strengthen the negative dynamics of the dollar and CFD #USDX, sending it towards the key support levels 107.25 (144 EMA on the daily chart), 105.50 (200 EMA on the daily chart). But above them, the #USDX CFD remains in the long-term bull market zone. Therefore, when bullish drivers appear, dollar buyers will quickly take control of the situation again.

In turn, the growth of CFD #USDX in the area above the resistance level 111.55 will be the first signal to resume long positions.

This image is no longer relevant

Support levels: 109.63, 109.00, 107.25, 105.50

Resistance levels: 110.80, 111.39, 111.55, 113.10, 114.00, 114.74, 115.00

Trading Tips

Sell Stop 110.20. Stop Loss 110.90. Take Profit 109.70, 109.00, 107.25, 105.50

Buy Stop 110.90. Stop-Loss 110.20. Take-Profit 111.40, 111.55, 113.10, 114.00, 114.74, 115.00

Jurij Tolin,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD: Trading Plan for the U.S. Session on June 3rd (Review of Morning Trades)

In my morning forecast, I pointed out the 1.3517 level and planned to base trading decisions on it. Let's look at the 5-minute chart and analyze what happened. A decline

Miroslaw Bawulski 18:47 2025-06-03 UTC+2

EUR/USD: Trading Plan for the U.S. Session on June 3rd (Review of Morning Trades)

In my morning forecast, I pointed out the 1.1404 level and planned to base trading decisions around it. Let's look at the 5-minute chart and see what happened. A decline

Miroslaw Bawulski 18:32 2025-06-03 UTC+2

How to Trade the GBP/USD Pair on June 3? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of GBP/USD The GBP/USD pair also traded higher throughout Monday. However, the overall technical picture of the British pound differs slightly from that

Paolo Greco 06:27 2025-06-03 UTC+2

How to Trade the EUR/USD Pair on June 3? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of EUR/USD The EUR/USD currency pair traded higher on Monday. We had warned that the dollar would likely decline again after Trump announced increased

Paolo Greco 06:27 2025-06-03 UTC+2

Trading Recommendations and Analysis for EUR/USD on June 3: Trump and ISM Hammer the Dollar

The EUR/USD currency pair showed fairly strong upward movement on Monday. Just as expected, the U.S. dollar started falling right from the market's opening on Monday night. What else could

Paolo Greco 03:57 2025-06-03 UTC+2

Trading Recommendations and Analysis for GBP/USD on June 3: The Pound Seized Another

As we had warned, the GBP/USD currency pair also traded strongly on Monday. The U.S. dollar got off lightly, as the fall could have been much sharper. Traders witnessed

Paolo Greco 03:57 2025-06-03 UTC+2

GBP/USD: Trading Plan for the U.S. Session on June 2nd (Review of Morning Trades)

In my morning forecast, I focused on the 1.3555 level and planned to base market entry decisions around it. Let's look at the 5-minute chart and analyze what happened

Miroslaw Bawulski 18:50 2025-06-02 UTC+2

EUR/USD: Trading Plan for the U.S. Session on June 2nd (Review of Morning Trades)

In my morning forecast, I focused on the 1.1416 level and planned to base market entry decisions around it. Let's look at the 5-minute chart and analyze what happened

Miroslaw Bawulski 18:47 2025-06-02 UTC+2

How to Trade the GBP/USD Pair on June 2? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades 1H Chart of GBP/USD The GBP/USD pair also traded quite calmly throughout Friday. There were no important news or events that day, so the volatility

Paolo Greco 06:08 2025-06-02 UTC+2

How to Trade the EUR/USD Pair on June 2? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades 1H Chart of EUR/USD The EUR/USD currency pair traded more calmly on Friday than on Thursday. This is not surprising, as the macroeconomic background was weak

Paolo Greco 06:08 2025-06-02 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.