In the daily chart, the USDX continues trading with gains above the support zone of 95.74. Now, it’s looking to do another rally towards the resistance level of 98.08, after a possible breakout around the level of 96.97. For now, we still
want to see another bullish pattern formation before that rally
mentioned above. the MACD indicator is at positive territory.
Our short-term outlook is still very
bullish, because the Index tries to stay above the key support level
at 96.46 and the immediate resistance remains located at the level of 97.16. If the USDX does a breakout in that zone, the next target would be at 97.60 in the days to come. The MACD
indicator remains in the neutral territory.
resistance levels: 96.97 / 98.08
support levels: 95.74 / 95.00
H1 chart’s resistance
levels: 97.16 / 97.60
H1 chart’s support levels: 96.90
Trading recommendations for today:
Based on the H1 chart, place
orders only if the USD Index
level is at 97.16,
take profit is at
and stop loss is at 96.71.
The material has been provided by InstaForex Company – www.instaforex.com