On the H1 chart, the USDX has been trading above the support level of 96.30 with a higher high pattern formation, as the index had a very strong bullish momentum during Thursday’s session. The current structure is fractal enough to state that the USDX will perform a rally
towards the level of 97.02 when a breakout successfully happens above 96.56. The MACD indicator is entering the overbought territory.
H1 chart’s resistance
levels: 96.56 / 97.02
H1 chart’s support levels: 96.30
Trading recommendations for today:
Based on the H1 chart, place
orders only if the US dollar index
level is seen at
take profit is at
and stop loss is at 96.11.
The material has been provided by InstaForex Company – www.instaforex.com