empty
 
 
13.03.2015 02:10 PM
Daily analysis of USDX for March 13, 2015

The instrument is still inside the valid bullish pattern formation on the daily chart because the USDX is above the support level of 99.19 and it is trying to reach the next resistance at the level of 100.49. A breakout of that zone will unleash the bullish momentum and the USDX will reach the resistance level of 101.60 in the near term.

This image is no longer relevant


On the H1 chart the USDX is making a rebound at the support level of 99.13 and probably the instrument will test the resistance level of 100.01 again. As we expected, that zone will produce some pullbacks in the USDX because the bullish trend is currently reaching extreme zones and the instrument will start making more deep corrective moves eventually.

This image is no longer relevant


Daily chart's resistance levels: 100.49 / 101.60

Dailychart's support levels: 99.19 / 98.01

H1 chart's resistance levels: 100.01 / 100.88

H1 chart's support levels: 99.13 / 97.93



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 100.01, take profit is at 100.88, and stop loss is at 99.13.

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
  • 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