Forex Analysis: 20 Mar 2017, 05:22 UTC+00

Daily analysis of USDX for March 20, 2017

The bearish bias in USDX still remains alive in the short-term, as the support zone of 100.15 could be broken in coming hours. If the index does a breakout below the 100.15 level, then we can expect a testing of the 99.66 level. Overall, USDX is following the bearish trend well consolidated below the 200 SMA on H1 chart.

USDXH1.png

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H1 chart's resistance levels: 100.64 / 101.16

H1 chart's support levels: 100.15 / 99.66

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 100.15, take profit is at 99.66 and stop loss is at 100.64.


Performed by
analytical expert: Felipe Erazo
InstaForex Group © 2007-2017
 Published: 20 Mar 2017, 05:22 UTC+00

 
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