The index failed to consolidate above the 200 SMA at H1 chart during Tuesday’s session, the day of the US presidential debate. Currently, it’s expected that the USDX index can resume the bearish bias to reach the psychological level of 95.00. However, if we see a breakout above the resistance level of 95.79, then further gains are expected. MACD indicator is showing overbought conditions.
H1 chart’s resistance levels: 95.49 / 95.79
H1 chart’s support levels: 95.01 / 94.61
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 95.49, take profit is at 95.79 and stop loss is at 95.19.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
The index failed to consolidate above the 200 SMA at H1 chart during
Tuesday’s session, the day of the US presidential debate. Currently, it’s expected that the USDX index can
resume the bearish bias to reach the psychological level of 95.00.
However, if we see a breakout above the resistance level of 95.79,
then further gains are expected. MACD indicator is showing overbought
conditions.
H1 chart’s resistance
levels: 95.49 / 95.79
H1 chart’s support levels: 95.01
/ 94.61
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
95.49,
take profit is at
95.79
and stop loss is at 95.19.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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