Daily analysis of USDX for September 14, 2017

1505322897_USDXH1.png

USDX was favored during Wednesday’s session by the headlines of a U.S. tax plan to be revealed soon and it helped the greenback to recover positions against its major competitors. Currently, the index is consolidating above the 200 SMA and looks forward to the resistance zone of 93.09. MACD indicator is favoring to that scenario, as it remains on the positive territory.

H1 chart’s resistance levels: 93.09 / 94.04

H1 chart’s support levels: 91.67 / 90.30

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 91.67, take profit is at 90.30 and stop loss is at 93.04.

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

Source:: Daily analysis of USDX for September 14, 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

*