empty
 
 
02.10.2015 01:30 AM
Daily analysis of USDX for October 02, 2015

On the daily chart, the USDX has been trading above the support level of 95.83, after rebound performed over there. However, we should expect some sideways moves at the end of this week. Also, the 200 SMA is turning into the neutral territory, as the MACD indicator is headed towards the same area.

This image is no longer relevant

A current short-term outlook is already calling for more upside room for the USDX, because the 200 SMA rejected sellers' price action. Also, we are still expecting a breakout above the level of 96.30, which should open the door to the level at 96.46 level. The MACD indicator is entering the neutral territory and the structure is turning into the bearish bias.

This image is no longer relevant

Daily chart's resistance levels: 96.38 / 96.91

Daily chart's support levels: 95.81 / 95.26

H1 chart's resistance levels: 96.30 / 96.46

H1 chart's support levels: 96.15 / 95.94

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USDX breaks with a bullish candlestick; the resistance level is seen at 96.30, take profit is at 96.46, and stop loss is at 96.15.

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