Trading Conditions
Products
Tools
The USDX is currently trading above the support level of 94.66 and there is a strong fight between bears and bulls, because the Index could do a rebound at current levels. Thanks to a possible bullish momentum, which could give that support zone mentioned above. The MACD indicator is in the negative territory.
There are no major changes in the short-term outlook for the USDX, but the Index is still moving above the support level of 95.15, a zone which rejected the US Dollar Index during yesterday's session. Currently, we should expect a rise towards the resistance level of 95.71 and a breakout could happen there in coming hours.
Daily chart's resistance levels: 95.74 / 96.97
Daily chart's support levels: 94.66 / 93.75
H1 chart's resistance levels: 95.71 / 96.16
H1 chart's support levels: 95.15 / 94.63
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US Dollar Index breaks with a bullish candlestick; the resistance level isseen at 95.71, take profit is at 96.16, and stop loss is at 96.32.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.