Trading Conditions
Products
Tools
USDX starts the year and the week with a bullish tone above the support level of 98.66 and the 200 SMA on the H1 chart. There is still a structure that is favoring more bullish bias towards the 98.90 level on a short-term basis because the fractals are configured for it. A strong support is seen around the 98.14 level. The MACD indicator is at the positive territory.
H1 chart's resistance levels: 98.90 / 99.07
H1 chart's support levels: 98.66 / 98.14
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD index breaks with a bullish candlestick; the resistance level is 98.90, take profit is at 99.07, and stop loss is at 98.72.
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.