There are slight attempts to resume the bullish bias as the price action still remains in favor of this trend. The greenback could post another fresh multi-day high and eventually it can reach the resistance level of 90.63. If a breakout happens over there, then we might expect a continuation towards the 91.75 level, while a pullback should take the index to test the 89.36 area.
H1 chart’s resistance levels: 90.63 / 91.75
H1 chart’s support levels: 89.36 / 87.88
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 89.36, take profit is at 87.88 and stop loss is at 90.81.The material has been provided by InstaForex Company – www.instaforex.com
There are slight attempts to resume the bullish bias as the price action still remains in favor of this trend. The greenback could post another fresh multi-day high and eventually it can reach the resistance level of 90.63. If a breakout happens over there, then we might expect a continuation towards the 91.75 level, while a pullback should take the index to test the 89.36 area.
H1 chart’s resistance levels: 90.63 / 91.75
H1 chart’s support levels: 89.36 / 87.88
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 89.36, take profit is at 87.88 and stop loss is at 90.81.The material has been provided by InstaForex Company – www.instaforex.com
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