empty
 
 
29.10.2017 09:50 PM
Daily analysis of USDX for October 30, 2017

The index is forming a higher high pattern below the resistance zone of 95.14 and looks forward to reaching new highs in the short-term. If a breakout happens over there, we can expect a rally towards the 95.85 level. To the downside, nearest support lies at 94.60 and if USDX retraces below it, then we should expect a testing of the 200 SMA at H1 chart.

This image is no longer relevant

H1 chart's resistance levels: 95.14 / 95.85

H1 chart's support levels: 94.60 / 93.97

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 95.14, take profit is at 95.85 and stop loss is at 94.47.

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In June we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback