InstaForex - Analytics

    InstaForex

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    Daily analysis of USDX for March 18, 2016 2016-03-18

    The Index is currently working on performing a breakout below the support zone of 94.69, in order to extend the decline towards the 93.89 level, after a strong bearish move was seen during yesterday's session. However, if the USDX makes a rebound at current levels, then we can expect another rally towards the 95.44 level.

    USDXH1.png

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    H1 chart's resistance levels: 95.44 / 96.03

    H1 chart's support levels: 94.69 / 93.89

    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 94.69, take profit is at 93.89, and stop loss is at 96.19.


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