#USDX has the potential to continue its weakening today, but there is a possibility that volatility will decrease when the

[Ben Graham]

[US Dollar Index]

Although all technical indicators show that sellers are quite dominant, indicating a potential move toward its nearest support level, today is a national holiday for Thanksgiving Day, which may lead to reduced volatility in the market, especially during the U.S. session.

Key Levels

1. Resistance. 2 : 100.07

2. Resistance. 1 : 99.81

3. Pivot : 99.67

4. Support. 1 : 99.41

5. Support. 2 : 99.27

Tactical Scenario:

Pressure Zone: If the price breaks down and closes below 99.41, #USDX has the potential to test 99.27.

Momentum Extension Bias: If 99.27 is broken and closes below, #USDX will likely continue its decline to 99.01.

Invalidation Level / Bias Revision:

The downside bias is restrained if the price of #USDX strengthens and breaks out to close above 100.07.

Technical Summary:

EMA(50) : 99.68

EMA(200): 99.85

RSI(14) : 30.59

Economic News Release Agenda:

Today is a national holiday for Thanksgiving Day in the United States, so no economic data will be released. Please be cautious of low volatility when the U.S. session opens today.

The material has been provided by InstaForex Company - www.instaforex.com