The index has been favored by a bullish bias above the 200 SMA at H1 chart and it’s now heading to the first target around 98.18, where a selling’s pressure might happen. Overall, the structure remains bullish and as long as USDX stays above the 200 SMA, further gains are expected to take place towards 98.98, which is our main target to the upside.
H1 chart’s resistance levels: 98.18 / 98.98
H1 chart’s support levels: 97.70 / 97.10
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 98.18, take profit is at 98.98 and stop loss is at 97.37.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
The index has been favored by a bullish bias above the 200 SMA at H1 chart and it’s now heading to the first target around 98.18, where a selling’s pressure might happen. Overall, the structure remains bullish and as long as USDX stays above the 200 SMA, further gains are expected to take place towards 98.98, which is our main target to the upside.
H1 chart’s resistance levels: 98.18 / 98.98
H1 chart’s support levels: 97.70 / 97.10
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 98.18, take profit is at 98.98 and stop loss is at 97.37.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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