Daily analysis of USDX for April 28, 2017
April 27, 2017 7:53 pmVideo
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The index is now capped by the resistance level of 99.28, as the
bulls are trying to gather enough bullish momentum to perform a
breakout to the upside. However, a pullback might happen to re-test
the support area of 98.83. The 200 SMA on H1 chart remains an
active dynamic supply zone to cap further gains. MACD indicator is
turning neutral, supporting a sideways tone for USDX in the coming
days.
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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