Trading Conditions
Products
Tools
The USDX is trying to do a bullish consolidation above the 200 SMA in the H1 chart, after the Fed's interest rate hike to 0.50%, in an announcement made at Wednesday's session. Technically, we should see a rally towards the resistance level of 98.80 where a pullback can happen to take a breath before any rallies that could be seen. The MACD indicator is entering the neutral territory.
H1 chart's resistance levels: 98.80 / 99.19
H1 chart's support levels: 98.14 / 97.60
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USDX breaks with a bearish candlestick; the support level is found at 98.14, take profit is at 97.60, and stop loss is at 98.69.
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.