Daily Analysis of USDX for April 22, 2016

Daily Analysis of USDX for April 22, 2016

22 April 2016, 08:47
Roberto Jacobs
0
15

Daily Analysis of USDX for April 22, 2016

The H1 chart picture is showing a strong rebound from the support level of 94.08, where the bulls are pushing the USDX higher to above the 200 SMA. The overall picture is still in a bearish tone and a pullback can possibly happen to reach new lows. Another scenario will be bullish as long as the USDX breaks the 95.01 level with a higher high pattern.


USDXH1.png


H1 chart's resistance levels: 94.85 / 95.01

H1 chart's support levels: 94.40 / 94.08

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 94.40, take profit is at 94.08, and stop loss is at 94.72.

The material has been provided by ifx_logo.gif


Share it with friends: