InstaForex - Analytics

    InstaForex

    736.75 6.25/10
    62% of positive reviews
    Real

    Daily analysis of USDX for July 24, 2015

    The USDX is looking for an opportunity to extend the corrective moves, because the support level of 96.57 is still the closest one. However, we should expect a rebound soon, as the bullish bias remains, but at least in the short term we shall see a possible breakout of the support zone around the level of 96.57. The MACD indicator is entering the neutral territory.

    USDXDaily.png

    Show full picture

    On the H1 chart, the Index is consolidating between the range exposed by the 200 SMA and the current intraday trend is still unclear. That's why we should wait for a breakout above the resistance level of 97.53, in order to resume the bullish bias, but the other side could be a consolidation below the support zone of 97.12.

    USDXH1.png

    Show full picture

    Daily chart's resistance levels: 97.57 / 98.29

    Daily chart's support levels: 96.57 / 95.63

    H1 chart's resistance levels: 97.53 / 97.77

    H1 chart's support levels: 97.12 / 96.73

    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 97.53, take profit is at 97.72, and stop loss is at 97.31.


    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