USDX had some selling pressure on Wednesday’s American session, following the release of some details about Donald Trump’s tax plan. Despite the pullback, we’re still seeing a consolidation above the support level of 98.83, which remains untouched in the short-term. If it manages to break above 99.29, the index can re-test the 100.00 handle.
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
USDX had some selling pressure on Wednesday’s American session, following the release of some details about Donald Trump’s tax plan. Despite the pullback, we’re still seeing a consolidation above the support level of 98.83, which remains untouched in the short-term. If it manages to break above 99.29, the index can re-test the 100.00 handle.
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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