USDX is still capped by the resistance level of 96.14, where the sellers are actively trying to push the index lower towards the 95.79 level. A bullish attempt to break that resistance zone should open the doors to reach the 96.49 level, where the index may start performing a complex correction in the nearest term. MACD indicator supports the idea of corrective phase.
H1 chart’s resistance levels: 96.14 / 96.49
H1 chart’s support levels: 95.79 / 95.49
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 96.14, take profit is at 96.49 and stop loss is at 95.79.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
USDX is still capped by the resistance level of 96.14, where the sellers are actively trying to push the index lower towards the 95.79 level. A bullish attempt to break that resistance zone should open the doors to reach the 96.49 level, where the index may start performing a complex correction in the nearest term. MACD indicator supports the idea of corrective phase.
H1 chart’s resistance levels: 96.14 / 96.49
H1 chart’s support levels: 95.79 / 95.49
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 96.14, take profit is at 96.49 and stop loss is at 95.79.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: