InstaForex - Analytics

    InstaForex

    695.00 6.50/10
    61% of positive reviews
    Real

    Daily analysis of USDX for March 13, 2015

    The instrument is still inside the valid bullish pattern formation on the daily chart because the USDX is above the support level of 99.19 and it is trying to reach the next resistance at the level of 100.49. A breakout of that zone will unleash the bullish momentum and the USDX will reach the resistance level of 101.60 in the near term.

    USDXDaily.png

    Show full picture


    On the H1 chart the USDX is making a rebound at the support level of 99.13 and probably the instrument will test the resistance level of 100.01 again. As we expected, that zone will produce some pullbacks in the USDX because the bullish trend is currently reaching extreme zones and the instrument will start making more deep corrective moves eventually.

    USDXH1.png

    Show full picture

    Daily chart's resistance levels: 100.49 / 101.60Dailychart's support levels: 99.19 / 98.01H1 chart's resistance levels: 100.01 / 100.88H1 chart's support levels: 99.13 / 97.93

    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 100.01, take profit is at 100.88, and stop loss is at 99.13.

    Felipe Erazo neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door MT5.com portal. Als u zijn artikel goed vindt, stemt u dan op hem.

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

    To leave a comment you must or Join us


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