A bullish gap is taking advantage of the USDX current trend on the daily chart, because the Index responded Greek news released at the weekend. Currently, we could expect a huge fall to the support level of 95.74 where it is currently making a strong
bottom. That move is needed because of the gap.
The H1 chart is advising us to wait
for a gap which is expacted to take place in coming hours, because the USDX is trying the
resistance level of 96.25. However, this pullback could be extended
below the support level of 95.80, but our overall forecast for this
Index is still bullish, at least in the short and mid term. The MACD
indicator is overbought.
resistance levels: 96.57 / 97.49
support levels: 95.74 / 94.66
H1 chart's resistance
levels: 96.25 / 96.57
H1 chart's support levels: 95.80
Trading recommendations for today:
Based on the H1 chart, place
orders only if the US Dollar Index
gets broken with
level is at 96.25,
take profit is at
and stop loss is at 95.93.
The material has been provided by InstaForex Company – www.instaforex.com