empty
 
 
29.08.2014 02:03 AM
Daily analysis of USDX for August 29, 2014

Daily chart: The USDX is trying to carry out a pullback on the resistance level of 82.51, due to that the USDX is overbought in this chart. So this instrument could begin to perform corrective movements. If the USDX manages to make a breakout at the support level of 81.50, it's expected to fall to the 200-day moving average. The MACD indicator stays in positive territory.

This image is no longer relevant

H4 chart: The USDX has formed a fractal near to the 82.60 level, so the USDX could fall up to the support offered by the bullish trend line near to the level of 82.00. The USDX stays above the 200-day moving average and the MACD indicator moving average in positive territory.

This image is no longer relevant

H1 chart: The USDX is trying to again form a bullish pattern below the resistance level of 82.50. If the USDX manages to make a breakout at that level, the next objective would be the level of 82.67, thereby strengthening the intraday trend bullish. The MACD indicator is in neutral territory.

This image is no longer relevant

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 82.50, take profit is at 82.67, and stop loss is at 82.34.

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 $6000 more!
    In December we raffle $6000 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