USDX plummeted to test the support zone of 94.16 following Trump’s headlines that still are the main drivers for the index. Broad based USD weakness could increase if we notice a breakout below the 94.16 level, which should open the doors for a testing of the support level of 93.29. MACD indicator remains in the negative territory, favoring for more declines.
H1 chart’s resistance levels: 94.85 / 95.57
H1 chart’s support levels: 94.16 / 93.29
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 94.16, take profit is at 93.29 and stop loss is at 95.02.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
USDX plummeted to test the support zone of 94.16 following Trump’s headlines that still are the main drivers for the index. Broad based USD weakness could increase if we notice a breakout below the 94.16 level, which should open the doors for a testing of the support level of 93.29. MACD indicator remains in the negative territory, favoring for more declines.
H1 chart’s resistance levels: 94.85 / 95.57
H1 chart’s support levels: 94.16 / 93.29
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 94.16, take profit is at 93.29 and stop loss is at 95.02.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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