InstaForex - Analytics

InstaForex

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Daily analysis of USDX for August 28, 2015

Bullish momentum is still alive in the daily time frame where the US Dollar Index is performing a rebound above the 200 SMA. This Index is now facing the resistance level at 95.83. In case of a breakout, the USDX will test the level of 96.64. The MACD indicator is oversold.

USDXDaily.png

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USDXH1.png

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Daily chart's resistance levels: 95.83 / 96.64

Daily chart's support levels: 95.26 / 94.59

H1 chart's resistance levels: 96.08 / 96.39

H1 chart's support levels: 95.68 / 95.33

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 at 96.08, take profit is at 96.39, and stop loss is at 95.77.



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