InstaForex - Analytics

InstaForex

719.00 6.50/10
61% of positive reviews
Real

Daily analysis of USDX for November 06, 2015

On H1 chart, we should note the USDX is waiting for the next US NFP release, which will be published during today's American session. That's why we're still expecting a breakout higher and we could see the US Dollar at higher levels next week. Bear in mind that the Index is trapped inside an extreme zone, so pullbacks shouldn't be discarded at this stage. MACD indicator is entering the negative territory.

USDXH1.png

Show full picture

H1 chart's resistance levels: 97.16 / 97.51

H1 chart's support levels: 96.71 / 96.40

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 98.03, take profit is at 98.31, and stop loss is at 97.76.



To leave a comment you must be or register

By visiting our website and services, you agree to the conditions of use of cookies. Learn more I agree