InstaForex - Analytics

    InstaForex

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    Daily analysis of USDX for February 25, 2016 2016-02-25

    On a short-term basis, the USDX made a pullback from the level of 97.77, after a strong rejection. On the H1 chart, the picture is very clear about a possible bullish continuation on a short and mid-term basis. If USDX does a breakout above the level of 97.77, then a high around 98.08 can be tested.

    USDXH1.png

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    H1 chart's resistance levels: 97.77 / 98.08

    H1 chart's support levels: 97.36 / 96.80

    Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USDX breaks with a bullish candlestick; the resistance level is seen at 97.77, take profit is at 98.08, and stop loss is at 97.47.


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