Daily chart: The USDX has not been significantly changed within the current trend, because this instrument continues forming a bullish pattern below the resistance level of 81.50. During yesterday's session, the USDX formed a fractal, so it might find strong support on the level of 81.35, for performing a rebound. The MACD indicator is entering negative territory.
H4 chart: The USDX remains above the support level of 81.28. For now, the USDX continues to move in a range, but remains solid in the current bullish trend. If the USDX does make a breakout at the 81.75 level, it is expected to rise to the level of 82.20. The MACD indicator is entering neutral territory.
H1 chart: The USDX has made a rebound on the 200-day moving average, so it is very likely that this instrument will attempt to climb the resistance level of 81.58 in the coming hours. If the USDX does make a breakout at that level, the next target would be the resistance level of 81.73 in the short term. The MACD indicator is entering neutral territory.
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 81.58, take profit is at 81.73, and stop loss is at 81.43.
The material has been provided by InstaForex Company - www.instaforex.com
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