Daily analysis of USDX for December 13, 2017

USDXH1.png

The index keeps its bullish structure untouched below the resistance level of 94.00. That level should give up in order to allow more gains toward the 94.37 level. To the downside, the 200 SMA at H1 chart provides a dynamic support and it should help to give a boost to USDX when it’s being tested. MACD indicator remains in favor of the bears.

H1 chart’s resistance levels: 94.00 / 94.37

H1 chart’s support levels: 93.40 / 92.70

Trading recommendations for today: Based on the H1 chart, place buy (sell) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 94.00, take profit is at 94.37 and stop loss is at 93.73.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Daily analysis of USDX for December 13, 2017

About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Leave a Reply

*