The USDX is trying to perform a rebound above the support level of 98.82, because of the price action offered by the 200 SMA on the H1 chart. At the current stage, we shall expect a rally until the resistance level of 99.25, where a breakout could offer another bullish bias towards the level of 99.80, which is a key interest zone of the sellers in the short-term. The MACD indicator is entering the neutral territory.
H1 chart’s resistance levels: 99.25 / 99.80
H1 chart’s support levels: 98.82 / 98.31
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US dollar index breaks with a bullish candlestick; the resistance level is seen at 99.25, take profit is at 99.80, and stop loss is at 98.70.
The material has been provided by InstaForex Company – www.instaforex.com
The USDX is trying to perform a rebound above the support level of 98.82, because of the price action offered by the 200 SMA on the H1 chart. At the current stage, we shall expect a rally until the resistance level of 99.25, where a breakout could offer another bullish bias towards the level of 99.80, which is a key interest zone of the sellers in the
short-term. The MACD indicator is entering the neutral territory.
H1 chart’s resistance
levels: 99.25 / 99.80
H1 chart’s support levels: 98.82
/ 98.31
Trading recommendations for today:
Based on the H1 chart, place
buy
(long)
orders only if the US dollar index
breaks with
a bullish
candlestick;
the resistance
level is seen at
99.25,
take profit is at
99.80,
and stop loss is at 98.70.
The material has been provided by InstaForex Company – www.instaforex.com
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