Daily chart: The USDX continues to fall in this chart, but very slowly, due to the lack of publication of economic indicators the recent days and that could affect the current trend of the USDX. Recall that the USDX is forming a higher low pattern above support at the 79.19 level, which is a clear indication that the bearish trend is still alive. The MACD indicator remains in negative territory.
H4 chart: The USDX has been in a bearish range, which could lead to further declines within the coming days. However, although it is forming a bearish pattern, the USDX could rise again to the resistance level of 79.63. If it does break, it is expected to rise to the level of 80.06. Furthermore, if the USDX achieves in breaking the support level of 78.60, it is expected to drop to the level of 78.45. The MACD indicator remains in positive territory.
H1 chart: The USDX has not made very volatile movements in the last hours, and it is expected to be slow during Friday’s session. However, the USDX is approaching the 200-day moving average, which could indicate that the USDX trend wants to change, but the fundamental factors do not favor this hypothesis. The USDX remains strong in the bearish trend, while it remains below the 200-day moving average. The MACD indicator remains in positive territory.
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USDX Index breaks a bearish candlestick; the support level is at 79.13, take profit is at 78.92, and stop loss is at 79.39.
The material has been provided by InstaForex Company – www.instaforex.com
Daily chart: The USDX continues to fall in this chart, but very slowly, due to the lack of publication of economic indicators the recent days and that could affect the current trend of the USDX. Recall that the USDX is forming a higher low pattern above support at the 79.19 level, which is a clear indication that the bearish trend is still alive. The MACD indicator remains in negative territory.
H4 chart: The USDX has been in a bearish range, which could lead to further declines within the coming days. However, although it is forming a bearish pattern, the USDX could rise again to the resistance level of 79.63. If it does break, it is expected to rise to the level of 80.06. Furthermore, if the USDX achieves in breaking the support level of 78.60, it is expected to drop to the level of 78.45. The MACD indicator remains in positive territory.
H1 chart: The USDX has not made very volatile movements in the last hours, and it is expected to be slow during Friday’s session. However, the USDX is approaching the 200-day moving average, which could indicate that the USDX trend wants to change, but the fundamental factors do not favor this hypothesis. The USDX remains strong in the bearish trend, while it remains below the 200-day moving average. The MACD indicator remains in positive territory.
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USDX Index breaks a bearish candlestick; the support level is at 79.13, take profit is at 78.92, and stop loss is at 79.39.
The material has been provided by InstaForex Company – www.instaforex.com
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