Article / 22 March 2017 at 7:06 GMT

Chart bites: Potential reversal for USD index and equity indices

Trader / Saxo Capital Markets Pte Ltd
Singapore

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  • The USD index may be at a bearish inflection point
  • The DAX in Germany and CAC in France have both broken a rising wedge
  • The S&P 500 continues its decline this morning


By Edmund Liu

USD index

The US dollar index is potentially at a bearish inflection point, as it completes a Head and Shoulders reversal pattern.

USD index chart

US Dollar Index


 

DAX

The DAX in Germany finally broke its three-month-old rising wedge, a bearish reversal pattern.

Dax chart

Dax













CAC

The CAC in France similarly broke its rising wedge.

France's CAC40 chart

CAC













S&P 500

The S&P 500 in the US continues its decline this morning, with its next support at 2,316 and 2,296.

S&P500













Coffee C Futures

Coffee C Futures are bouncing off trendline support as the MACD indicator suggests increasing upside momentum.

Coffee C Futures chart
Coffee C













AUDUSD

The AUDUSD just can't get above 0.77. It's been trying since 2016.

AUDUSD daily chart

AUDUSD













GBPUSD

The GBPUSD attempts a breakout of its downtrend channel.


GBPUSD daily chart

GBPUSD













USDJPY

The USDJPY has broken below 2017 lows as well as its descending triangle pattern.


USDJPY daily chart

USDJPY













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– Edited by Susan McDonald


Edmund Liu is a trader on TradingFloor.com .


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