empty
 
 
10.03.2015 11:44 AM
Daily analysis of USDX for March 10, 2015

The general bias on the USDX remains very bullish, as there is not any big obstacle to block a bullish trend. This instrument has already hit new multi-year highs and the closest resistance level is seen at 99.19. If the USDX does a breakout on that level, it is likely to reach the next target at 100.49.

This image is no longer relevant


In the H1 chart, the USDX has already broken the level of 97.93 and is forming a bullish pattern in order to reach the resistance level of 99.13 in a short term. We can see its upward movement for now, as the USDX still has enough bullish momentum on the lower time frame H1 chart. The MACD indicator does not show overbought levels.

This image is no longer relevant


Daily chart's resistance levels: 99.19 / 100.49

Daily chart's support levels: 98.01 / 96.96

H1 chart's resistance levels: 99.13 / 100.00

H1 chart's support levels: 97.96 / 96.85

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 99.13, take profit is at 100.00, and stop loss is at 98.30.

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