USDX was favored by the bulls above the 200 SMA at H1 chart and it’s heading to break above last Friday’s highs. If that happens, we can expect a target to be reached around 97.75, which should add strength to bulls’ force in the short-term. By the other side, if the index pulls back at the current stage, then a testing of the 96.95 level is likely to happen.
H1 chart’s resistance levels: 97.41 / 97.75
H1 chart’s support levels: 96.95 / 96.70
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 97.41, take profit is at 97.75 and stop loss is at 97.07.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
USDX was favored by the bulls above the 200 SMA at H1 chart and it’s heading to break above last Friday’s highs. If that happens, we can expect a target to be reached around 97.75, which should add strength to bulls’ force in the short-term. By the other side, if the index pulls back at the current stage, then a testing of the 96.95 level is likely to happen.
H1 chart’s resistance levels: 97.41 / 97.75
H1 chart’s support levels: 96.95 / 96.70
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 97.41, take profit is at 97.75 and stop loss is at 97.07.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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