For Traders

Analytical Reviews

Technical analysis

27.12.201600:55 Forex Analysis & Reviews: Daily analysis of USDX for December 27, 2016

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The index is moving inside a sideways structure which remains well supported by the 200 SMA at H1 chart, as the bulls are waiting for further momentum in order to resume the trend, but ahead of New Year's eve, we cannot expect such volatile moves and the downside could be limited by the 102.56 demand zone, while to the upside, we're seeing a strong resistance around 103.98.

H1 chart's resistance levels: 103.98 / 104.69

H1 chart's support levels: 102.56 / 101.40

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 at 103.98, take profit is at 104.69 and stop loss is at 103.26.

Back to the list

Open trading account

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.