InstaForex - Analytics

    InstaForex

    694.50 6.50/10
    61% of positive reviews
    Real

    Daily analysis of USDX for June 07, 2016 2016-06-06

    USDX is still forming a lower low pattern below the resistance level of 94.30 on the H1 chart, without major moves after the Fed's Yellen speech, during yesterday's session. The greenback could be looking to break the support level of 93.89, in order to extend the decline toward the 93.50 level. However, a corrective rebound should happen until the 94.62 level, only if the Index is able to break the 94.30 level.

    USDXH1.png

    Show full picture

    H1 chart's resistance levels: 94.30 / 94.62

    H1 chart's support levels: 93.89 / 93.50

    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 93.89, take profit is at 93.50, and stop loss is at 94.28.


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree