Daily analysis of USDX for September 07, 2015 Market Analysis Review

On the daily chart, the USDX continues to trade in favor of a bullish bias, looking for an opportunity to break the resistance level of 96.64. Of course, that will happen when the Index achieves in developing a good bullish pattern formation to continue it previous rally. On the other hand, the USDX is expected to perform another pullback towards the support level of 95.83.

The index is still trading sideways on the H1 chart, with a bullish consolidation above the 200 SMA. The next key resistance level is located around 96.63, where the USDX should make a breakout in order to reach new highs during the period of consolidation mentioned above. The MACD indicator is still at negative territory.

Daily chart's resistance levels: 96.64 / 97.23

Daily chart's support levels: 95.83 / 95.26

H1 chart's resistance levels: 96.34 / 96.63

H1 chart's support levels: 96.09 / 95.80

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US Dollar Index breaks with a bullish candlestick; the resistance level is seen at 96.34, take profit is at 96.63, and stop loss is at 96.01.

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Daily analysis of GBP/USD for September 07, 2015 Market Analysis Review

The current structure on daily chart is calling for more downside in coming days, because GBP/USD did a breakout around the level of 1.5224. Now, that is a resistance zone with a focus placed towards the next support at the level of 1.5107. When a breakout happens there, then the pair will fall until at least the level of 1.4972.

On the H1 chart, the pair continues to trade alongside with the direction placed by the 200 SMA, which is pointing to the downside. The nearest support is located at the 1.5167 and when a breakout happens there, GBP/USD will trade lower towards the next bottom around the 1.5098 in a short term basis. MACD indicator is still at negative territory.

Daily chart's resistance levels: 1.5224 / 1.329

Daily chart's support levels: 1.5107 / 1.4972

H1 chart's resistance levels: 1.5220 / 1.5272

H1 chart's support levels: 1.5167 / 1.5098

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.5167, take profit is at 1.5098, and stop loss is at 1.5237.

The material has been provided by InstaForex Company - www.instaforex.com

For detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of GBP/USD for September 07, 2015 . Thanks for your support.