empty
 
 
03.04.2015 03:48 PM
Daily analysis of USDX for April 03, 2015

The USDX is already doing a pullback below the resistance level at 98.01. The instrument received the US NFP with a low bearish momentum, which is a part of the current corrective move in the overall trend. Also, we could expect a lower continuation towards the support level of 96.60 in the short term. The MACD indicator is still in negative territory.


This image is no longer relevant


Today, the USDX consolidated below the 200 SMA on the H1 chart. There is a strong possibility that it can reach the support zone around 97.30 in the very short term. By the way, we stay with the bullish idea for the long term, as the USDX is dealing with the supply zone offered by that moving average at the intraday charts.

This image is no longer relevant


Daily chart's resistance levels: 98.01 / 99.12

Dailychart's support levels: 96.60 / 95.19

H1 chart's resistance levels: 97.50 / 97.70

H1 chart's support levels: 97.30 / 97.08



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 97.50, take profit is at 97.70, and stop loss is at 97.30.

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