InstaForex - Analytics

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    Daily analysis of USDX for February 22, 2016 2016-02-22

    USDX is currently doing a possible breakout below the support zone of 96.80 and there could happen a decline towards the 96.40 level. That level is strong support that could face some difficulties in the way that bears are getting a bit weak in technical terms. The fractal structure is also indicating more further weakness.

    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 USD Index breaks with a bearish candlestick; the support level is at 96.80, take profit is at 96.40, and stop loss is at 97.20.


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