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US Dollar Index (USDX) and EURUSD -October 2015

Free Forex Trading Signals: US Dollar Index (USDX) and EURUSD October 2015

□ Market: Foreign Exchange

□ Asset: US Dollar Index (USDX) and EURUSD

□ Forecast: USDX Local-High on October, 9th 2015, after Long on EURUSD

For the first time, TCI indicator is applied on the US Dollar Index (USDX). All TCI readings are available below, by pressing the USDX TCI tab.

US Dollar Outlook

The Foreign Exchange Market has been pretty volatile lately as expectations for an early US interest rate hike proved false. The US Dollar was sold heavily in early October. On October 2nd, 2015, EURUSD surged from 1.114 to 1.131 in the blink of an eye. This has happened as the US NonFarm Payrolls reached 142,000K, instead of 200,000K, as it was anticipated by most analysts. After the heavy sell-off, the US Dollar gained quickly some ground back, proving it is still strong. As you can see in the following analysis, US Dollar is expected to stay strong for a few more days and then to enter a short-term downtrend.

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EURUSD Technical Analysis

Let’s see some important levels for EURUSD:

EURUSD ST Supply Levels: 1.1430-1.1465 | 1.1650 | 1.1710-1.1715 | 1.1750

EURUSD ST Demand Levels: 1.1135-1.1150 | 1.1010-1.1020 | 1.0800-1.0850

Chart: EURUSD

EURUSD

US Dollar Index (USDX) Technical Analysis

USDX is moving on a strong channel that is forming a slow uptrend. Probably the next few days USDX it is going to reach the upper boundary of this channel. Afterwards, most probably, it will reverse its short-term trend and move downwards. That means Long on EURUSD.

Let’s see some important levels for USD Index (USDX):

USDX ST Supply Levels: 97.05-97.15 (Reaching the Upper Channel of the Range)

USDX ST Demand Levels: 94.55-94.65 (Reaching the Lower Channel of the  Range)

Chart: US Dollar Index (USDX)

US Dollar Index (USDX)

TCI on US Dollar Index (USDX)

This is the first time we apply the Trading Center Indicator (TCI) on US Dollar Index (USDX). Here is the TCI-Readings Table of USDX

Table: TCI on US Dollar Index

Date

High

Low

Close

Change (%)

Volatility (%)

TCI

2015.09.10

96.18000

95.36000

95.50000

-0.45%

0.9%

-1.38%

2015.09.11

95.65000

95.08000

95.18000

-0.34%

0.6%

-1.52%

2015.09.14

95.36000

94.88000

95.29000

0.12%

0.5%

-1.68%

2015.09.15

95.82000

95.25000

95.74000

0.47%

0.6%

-1.32%

2015.09.16

95.98000

95.27000

95.43000

-0.32%

0.7%

-2.26%

2015.09.17

95.50000

94.45000

94.51000

-0.96%

1.1%

-3.54%

2015.09.18

95.50000

94.16000

95.32000

0.86%

1.4%

-1.57%

2015.09.21

96.11000

95.15000

96.00000

0.71%

1.0%

-0.44%

2015.09.22

96.55000

95.88000

96.43000

0.45%

0.7%

0.72%

2015.09.23

96.69000

96.15000

96.36000

-0.07%

0.6%

0.59%

2015.09.24

96.43000

95.54000

96.04000

-0.33%

0.9%

0.14%

2015.09.25

96.84000

96.24000

96.30000

0.27%

0.6%

0.05%

2015.09.28

96.64000

96.00000

96.08000

-0.23%

0.7%

-0.78%

2015.09.29

96.35000

95.80000

96.01000

-0.07%

0.6%

-0.29%

2015.09.30

96.53000

95.96000

96.36000

0.36%

0.6%

0.51%

2015.10.01

96.61000

96.06000

96.29000

-0.07%

0.6%

-0.04%

2015.10.02

96.48000

95.27000

96.02000

-0.28%

1.3%

-0.75%

2015.10.05

96.26000

95.52000

96.17000

0.16%

0.8%

-0.21%

(+1 Trading Days)

       

0.45%

(+2 Trading Days)

       

0.66%

(+3 Trading Days)

       

1.13%

(+4 Trading Days) 

      TCI forecasts here a Local High

2.10%

(+5 Trading Days)

       

1.93%

(+6 Trading Days)

       

1.02%

(+7 Trading Days)

       

0.56%

(+8 Trading Days)

       

0.50%

(+9 Trading Days)

       

0.93%

(+10 Trading Days)

       

0.89%

(+11 Trading Days)

       

0.30%

(+12 Trading Days)

       

-0.08%

(+13 Trading Days)

       

-0.08%

(+14 Trading Days)

       

0.07%

(+15 Trading Days)

       

0.22%

TCI forecasts that the US Dollar Index will form a Local High in the 9th of October 2015. Starting on the 12th of October TCI forecasts a short-term reversal of USDX uptrend.

TCI on EURUSD

TCI forecasts that EURUSD is going to be under selling pressure until the 9th of October 2015. Starting on the 12th of October TCI forecasts a short-term EURUSD uptrend. These are the readings after applying the Trading Center Indicator (TCI) on EURUSD.

Table: TCI Readings EURUSD

Date

High

Low

Close

Change (%)

Volatility (%)

TCI

2015.09.18

1.14597

1.12689

1.12993

-1.18%

1.7%

2.51%

2015.09.21

1.13294

1.11808

1.11885

-0.98%

1.3%

0.83%

2015.09.22

1.12071

1.11128

1.11192

-0.62%

0.8%

-0.87%

2015.09.23

1.12131

1.11047

1.11850

0.59%

1.0%

0.09%

2015.09.24

1.12956

1.11640

1.12292

0.40%

1.2%

0.54%

2015.09.25

1.12336

1.11157

1.11970

-0.29%

1.1%

0.68%

2015.09.28

1.12472

1.11461

1.12437

0.42%

0.9%

1.90%

2015.09.29

1.12811

1.11935

1.12484

0.04%

0.8%

1.31%

2015.09.30

1.12610

1.11567

1.11753

-0.65%

0.9%

-0.31%

2015.10.01

1.12088

1.11345

1.11939

0.17%

0.7%

0.69%

2015.10.02

1.13180

1.11499

1.12092

0.14%

1.5%

1.38%

2015.10.05

1.12889

1.11730

1.11875

-0.19%

1.0%

0.74%

(+1 Trading Days)

       

-0.19%

(+2 Trading Days)

       

-0.46%

(+3 Trading Days)

   

 

 

-1.19%

(+4 Trading Days) 

   

 

 TCI reveals a bottom here

-2.39%

(+5 Trading Days)

 

 

 

 TCI forecasts Trend Reversal

-2.24%

(+6 Trading Days)

   

 

 

-1.19%

(+7 Trading Days)

   

 

 

-0.64%

(+8 Trading Days)

   

 

 

-0.43%

(+9 Trading Days)

   

 

 

-0.98%

(+10 Trading Days)

   

 

 

-0.93%

(+11 Trading Days)

   

 

     

 

 

 

-0.17%

(+12 Trading Days)

   

 

0.60%

(+13 Trading Days)

   

 

0.36%

(+14 Trading Days)

   

 

0.12%

(+15 Trading Days)

   

 

-0.01%

EURUSD Statistics

Based on the price action of the past decade, October is a good month to sell EURUSD but November and December are the best months of the year to go long on EURUSD. This is especially true for the month December. Note that December 2014 proved an exemption to that rule, because during December 2014, Mr. Mario Draghi revealed his plans for easing the EU monetary policy which had a cataclysmic effect on the valuation of Euro against all majors.

EURUSD Statistics Here

US Dollar / Euro important News Releases

Important updates regarding the US Dollar and Euro:   

US DOLLAR

PREVIOUS

FORECAST

ACTUAL

USInitial Jobless Claims

267.00K

270.00K

277.00K

ISM Prices Paid

39.0

39.3

38.0

ISM Manufacturing PMI

51.1

50.6

50.2

US Unemployment Rate

5.10%

5.10%

5.10%

US Nonfarm Payrolls

173.00K

203.00K

142.00K

US ISM Non-Manufacturing PMI

59.0

57.7

56.9

US Trade Balance

-$41.86B

-$47.40B

 

EURO

PREVIOUS

FORECAST

ACTUAL

Austria's Unemployment

327.10K

 

322.20K

Spain's Markit Manufacturing PMI

53.2

53.0

51.7

Italy's Markit Manufacturing PMI

53.8

53.3

52.7

France Markit Manufacturing PMI

50.4

50.4

50.6

Germany's Markit Manufacturing PMI

52.5

52.5

52.3

Greece Markit Manufacturing PMI

39.1

 

43.3

 

Free Forex Trading Signals: US Dollar Index and EURUSD

Giorgos Protonotarios for TradingCenter.org (October, 6th 2015)

» George at Linkedin


 

■ Trade the US Dollar Index (USDX) on MetaTrader4 with HotForex  » HotForex CurreneX MT4 Accounts

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