Daily analysis of USDX for February 11, 2014
February 11, 2014 8:05 amVideo
Latest News
- Analysis of EUR/USD on May 8th. Euro aims for the 1.5 figure May 8, 2024
- Analysis of GBP/USD on May 8th. The pound hits an important level May 8, 2024
- USD/JPY: Simple Trading tips for novice traders on May 8th (US session) May 8, 2024
- GBP/USD: Simple trading tips for novice traders on May 8th (US session) May 8, 2024
- EUR/USD: Simple trading tips for novice traders on May 8th (US session) May 8, 2024
- Trading Signals for CRUDE OIL (WIT) for May 8-15, 2024: buy above $78.12 (21 SMA – 2/8 Murray) May 8, 2024
- GBP/USD: trading plan for the US session on May 8th (analysis of morning deals). The pound was bought in the area of 1.2471 May 8, 2024
- EUR/USD: trading plan for the US session on May 8th (analysis of morning deals). No statistics, no movement May 8, 2024
- EUR/USD. May 8th. The market continues to rest against the background of an empty calendar May 8, 2024
- Technical Analysis – USDCAD enjoys renewed strength May 8, 2024
- Technical Analysis – US 500 index advances towards all-time high May 8, 2024
- GBP/USD. May 8th. The pound does not expect a rate cut by the Bank of England May 8, 2024
- Video market update for May 08, 2024 May 8, 2024
- Technical Analysis – EURJPY flirts with 167.00 again May 8, 2024
- Technical Analysis – WTI oil futures restart downtrend May 8, 2024
- Forex forecast 05/08/2024: EUR/USD, Oil, Gold and SP500 from Sebastian Seliga May 8, 2024
- Technical Analysis – GBPUSD pulls back after testing 50-day SMA May 8, 2024
- Market Comment – US dollar recovers, stocks’ rally stalls as market tries to find its footing May 8, 2024
- USD/JPY: trading tips for beginners for European session on May 8 May 8, 2024
- Weekly Technical Outlook: 08/05/2024 – USDJPY, GBPUSD, USDCAD May 8, 2024
Daily
chart: The USDX has touched the support level of 80.62, so it is
very likely that the USDX will start forming a bearish pattern for a
breakout at that level. If successful, it is expected to fall to the
level of 80.11. However, remember that this support level is very
strong and could slow the USDX fall in the rest of the week,
although the essential news could invalidate this hypothesis. The
MACD indicator is in negative territory.
H4 chart: The USDX has
consolidated below the 200-day moving average, but the support level
of 80.55 is very strong in this chart, as the USDX formed a couple of
fractals there. If the USDX manages to break the support level of
80.44, it’s expected to fall to the level of 80.15. On the other
hand, a bullish rebound at current levels could lead the USDX up to the 200 SMA. The MACD indicator is entering oversold area.
H1 chart: The USDX is
maintained within the range between the 80.73 and 80.59 levels. At
the level of 80.73, the USDX has formed a point of control, which
would give strength to the curb level to the USDX bullish road for
this week. If the USDX manages to break the support level of 80.59,
it’s expected to fall to the level of 80.35. The MACD indicator is
still in positive territory.
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 80.59,
take profit is at 80.35,
and stop loss is at 80.83.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: