Daily chart: The USDX opened the week with a bullish gap. So far, this instrument has not filled this gap. Now, the USDX is trying to stay above the level of 82.51, so it is likely to begin to form a bullish pattern to climb up to the resistance level of 83.22. The MACD indicator is in positive territory.
H4 chart: The USDX is finding support on the bullish trend line that is near the level of 82.55. So this instrument could perform a corrective movement to fill the gap. Now, the USDX has formed a fractal, so the USDX could climb up to the resistance level of 82.80. The MACD indicator stays in positive territory.
H1 chart: The USDX continues to find support at the level of 82.50 since this instrument opened the week with a bullish gap. So the USDX is trying to climb back up to the resistance level of 82.67. If the USDX manages to make a breakout at that level, the next target would be the resistance level of 82.85. 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 82.67, take profit is at 82.85, and stop loss is at 82.49.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Daily analysis of USDX for August 26, 2014 . Thanks for your support on Daily analysis of USDX for August 26, 2014
No comments:
Post a Comment