empty
 
 
29.12.2014 07:33 AM
Daily analysis of USDX for December 29, 2014

On the daily chart, the USDX is kept alive in the bullish bias. There are still no signs that this instrument will make a trend change, at least in the medium term. However, we must not lose sight of the resistance level of 90.40, as this area has been strong in the past and currently, the USDX could make a pullback on that level.

Dailychart's resistance levels: 90.40 / 93.44

Daily chart's support levels: 88.63 / 87.35

This image is no longer relevant

The USDX is having fallen below the resistance level of 90.01. Therefore, during today's session, this instrument is likely to fall to the support level of 89.76. However, on this area, the USDX could perform a rebound to rise again to the level of 90.01, while the MACD indicator remains in the negative territory. So, the USDX could perform a breakout at the support level of 89.76.

H1 chart's resistance levels: 90.01 / 90.26

H1 chart's support levels: 89.76 / 89.51

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 90.01, take profit is at 90.26, and stop loss is at 89.76.

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