In the daily chart, the USDX stays below the resistance zone of 95.74, without significant changes in our latest outlooks about this index. Also, we’re expecting a higher high pattern formation in order to strengthen the current bullish towards at USDX. The 200 SMA is pointing upwards and the price
action is favoring bulls.
The short-term outlook is still there
with a probability of a higher high pattern formation on the H1 chart.
The resistance zone of 95.82 is offering a strong barrier for the
USDX to trade in favor of a bullish bias. But we could expect a
breakout there soon, because the current structure is already fueling
the bullish bias.
resistance levels: 95.74 / 96.97
support levels: 95.00 / 93.95
H1 chart’s resistance
levels: 95.82 / 96.21
H1 chart’s support levels: 95.18
Trading recommendations for today:
Based on the H1 chart, place
orders only if the USD Index
level is at 93.85,
take profit is at
and stop loss is at 94.63.
The material has been provided by InstaForex Company – www.instaforex.com