InstaForex - Analytics

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    Daily analysis of USDX for February 17, 2016 2016-02-17

    On the H1 chart, the USDX has been trading in a bullish mode above the 200 SMA, and now we can see a fractal formation, which was developed during the today's Asian session. However, if the USDX achieves in breaking the resistance zone of 97.36, then we can expect a rally to the level of 97.77, which would add more strength to the bullish outlook.

    USDXH1.png

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    H1 chart's resistance levels: 97.36 / 97.77

    H1 chart's support levels: 96.80 / 96.40

    Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USDX breaks with a bearish candlestick; the support level is seen at 96.80, take profit is at 96.40, and stop loss is at 97.20.


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