The index is recovering from the losses posted during Tuesday’s session, and now we should expect a rise towards the 200 SMA at H1 timeframe.
However, keep in mind that the bears are still strong across the
board, and the greenback’s weakness is likely to continue until the next Fed’s
meeting at least. If the USDX manages to break the 94.78 level, then
the next target will be found at 94.29.
H1 chart’s resistance
levels: 95.49 / 95.79
H1 chart’s support levels: 94.78
/ 94.29
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
94.78,
take profit is at
94.29
and stop loss is at 95.27.
The material has been provided by InstaForex Company – www.instaforex.com
The post Daily analysis of USDX for September 08, 2016 appeared first on forex-analytics.press.