empty
 
 
11.12.2014 12:57 AM
Daily analysis of USDX for December 11, 2014

On the H4 chart, the USDX has had a fairly strong bearish trend for several days, as this instrument is currently finding support at the 88.27 level. This area could serve as a strong support for the USDX, but remember that this instrument could be looking down to the support level of 87.93, which would be an approximation to the 200-day moving average. The MACD indicator remains in the negative territory.

Daily chart's resistance levels: 88.44 / 88.65

Dailychart's support levels: 88.19 / 87.93

This image is no longer relevant

The USDX found strong resistance at the 88.71 level, where the 200-day moving average is located on the H1 chart. Now, the USDX is trying to form a lower low pattern below the resistance level of 88.43. The nearest support is the level of 88.15 and if the USDX makes a breakout there, it would be expected to fall to the level of 87.86. The MACD indicator remains in the negative territory.

H1 chart's resistance levels: 88.43 / 88.71

H1 chart's support levels: 88.15 / 87.86

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 88.43, take profit is at 88.71, and stop loss is at 88.14.

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 $9000 more!
    In May we raffle $9000 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