InstaForex - Analytics

    InstaForex

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    Daily analysis of USDX for March 22, 2016 2016-03-21

    The H1 chart structure remains bearish and the Index is currently dealing with the resistance zone of 95.44, where we can expect a pullback to resume the bearish bias on a short-term basis. If that scenario happens, then a breakout lower below the 94.69 level will make it possible for the pair to test new lows in the coming days. The 200 SMA is slightly bearish.

    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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