The index is trying to finish the development of a bullish pattern above the support level of 95.83. The daily chart structure is showing us a situation where the index is trying a breakout above the resistance level of 96.38, but bear in mind that zone is highly active for sellers in a mid-term outlook. MACD indicator remains on the positive territory.
On H1 chart, USDX is breaking some key resistances, reached this week, after a bullish momentum which was granted during the 200 SMA's testing. At the resistance level of 96.30, we could expect some bearish moves with pullbacks which should take the index to test the support zone of 96.15 at least.
Daily chart's resistance levels: 96.38 / 96.91
Daily chart's support levels: 95.81 / 95.26
H1 chart's resistance levels: 96.35 / 96.51
H1 chart's support levels: 96.15 / 95.94
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 96.30, take profit is at 96.47, and stop loss is at 96.13.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of USDX for September 25, 2015 . Thanks for your support.
No comments:
Post a Comment