InstaForex - Analytics

InstaForex

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Daily analysis of USDX for March 01, 2016 2016-03-01

The short-term picture is very clear about a possible correction move below the resistance level of 98.21. In that zone we're expecting some bearish moves, as sellers are highly active there. If the USDX does a breakout below the 98.08 level, then the Index can fall until the 97.77 level.

USDXH1.png

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H1 chart's resistance levels: 97.77 / 98.08

H1 chart's support levels: 97.20 / 96.80

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 98.21, take profit is at 98.59, and stop loss is at 97.84.



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