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.
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