empty
 
 
28.06.2012 12:04 PM
EUR/USD Intraday Technical Analysis

The USDX is currently facing very strong resistance in the daily time frame, because the zone around the level of 96.57 remains very solid acting as supply territory for the Index. That is why we want to see another pullback again until the support level of 95.74. The MACD indicator is reaching an overbought territory.

This image is no longer relevant

In the H1 chart, the USDX made a very interesting price action at the yesterday session/ The Index pulled back from the highs around the level of 97.20 and now it is looking for the dynamic support offered by the 200 SMA. If the USDX does a rebound over there, it would be expected to test the resistance level of 96.38 again.

This image is no longer relevant

Daily chart's resistance levels: 96.57 / 97.57

Daily chart's support levels: 95.74 / 94.66

H1 chart's resistance levels: 96.38 / 96.65

H1 chart's support levels: 96.13 / 95.89

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US Dollar Index breaks out with a bullish candlestick; the resistance level is at 96.38, take profit is at 96.65, and stop loss is at 96.13.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2025
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