USDX is currently trading into a very strong intraday bearish bias, after a decline held since the start of yesterday's Asian session. The uncertainty around the world regarding geo-political topics are on the floor and producing a kind of risk aversion on most of the trading assets. We can expect a strong bottom to be found around the 98.10 level. MACD indicator is at negative territory.
H1 chart's resistance levels: 98.39 / 98.79
H1 chart's support levels: 98.10 / 97.82
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 98.39, take profit is at 98.79, and stop loss is at 97.99.
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 January 08, 2016 . Thanks for your support.
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