Article / 22 March 2017 at 7:06 GMT

Chart bites: Potential reversal for USD index and equity indices

Trader / Saxo Capital Markets Pte Ltd

  • 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



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

Dax chart



The CAC in France similarly broke its rising wedge.

France's CAC40 chart


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.


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


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

AUDUSD daily chart



The GBPUSD attempts a breakout of its downtrend channel.

GBPUSD daily chart



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

USDJPY daily chart


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– Edited by Susan McDonald

Edmund Liu is a trader on .



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