The index remains under selling pressure as the U.S. President Trump’s politics continue to be the main driver for the greenback. Also, the downside is at the mercy of such catalysts, as the recent positive US macro data isn’t helping to lift the US Dollar index. The next support is placed at the 98.42 level, only if it manages to break the 98.83 zone.
H1 chart’s resistance levels: 99.28 / 99.97
H1 chart’s support levels: 98.83 / 98.42
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 98.83, take profit is at 98.42 and stop loss is at 99.24.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
The index remains under selling pressure as the U.S. President
Trump’s politics continue to be the main driver for the greenback.
Also, the downside is at the mercy of such catalysts, as the recent
positive US macro data isn’t helping to lift the US Dollar index.
The next support is placed at the 98.42 level, only if it manages to
break the 98.83 zone.
H1 chart’s resistance
levels: 99.28 / 99.97
H1 chart’s support levels: 98.83
/ 98.42
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
98.83,
take profit is at
98.42
and stop loss is at 99.24.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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