The index remains targeting to the downside, as it’s keeping the structure below the 200 SMA at H1 chart, but eventually, we could start to witness some recovery moves toward 100.36 in a first degree. However, if USDX does a breakout below the 99.46 level, then it can plunge to test the 98.98 level. MACD indicator is showing uncertainty in the US Dollar so far.
H1 chart’s resistance levels: 99.80 / 100.36
H1 chart’s support levels: 99.46 / 98.98
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 99.46, take profit is at 98.98 and stop loss is at 99.95.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
The index remains targeting to the downside, as it’s keeping the
structure below the 200 SMA at H1 chart, but eventually, we could
start to witness some recovery moves toward 100.36 in a first degree.
However, if USDX does a breakout below the 99.46 level, then it can
plunge to test the 98.98 level. MACD indicator is showing uncertainty
in the US Dollar so far.
H1 chart’s resistance
levels: 99.80 / 100.36
H1 chart’s support levels: 99.46
/ 98.98
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
99.46,
take profit is at
98.98
and stop loss is at 99.95.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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