empty
 
 
18.03.2014 04:07 AM
Daily analysis of USDX for March 18, 2013

Daily chart: The USDX is approaching the support level of 79.19. The bearish bias remains very strong, so it is very likely that the USDX start making corrective movements as the USDX is oversold on low charts. However, if the USDX does make a breakout in the support level of 79.19, it's expected to fall to the level of 78.12. The MACD indicator is in negative territory.


This image is no longer relevant


H4 chart: The USDX continues to find support at the 79.32 level, so it is very likely that the USDX is forming a triple bottom pattern to continue rising. However, if the USDX does make a breakout at the support level, it is expected to fall to the level of 78.75. The USDX remains below the 200 SMA and MACD indicator is in neutral territory.


This image is no longer relevant


H1 chart: The USDX is trying to consolidate below the 79.39 level, so it is expected that the USDX falls to the support level of 79.13. If the USDX makes a bullish rebound at current levels, it is expected to rise to the resistance level of 79.64, where the 200-day moving average is located. The MACD indicator is in neutral territory.


This image is no longer relevant


Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 79.39, take profit is at 79.13, and stop loss is at 79.64. 

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 $8000 more!
    In March we raffle $8000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 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