MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Daily analysis of USDX for August 19, 2015

On the daily chart, USDX has been trading in a bullish bias above the support level of 96.57, which is currently developing into a possible rebound towards the resistance zone of 97.57. We're still expecting a breakout over there for a higher continuation, but eventually, the index could pullback until the 96.57 level again.

USDXDaily.png

USDX recovered from losses and now it's trading above the 200 SMA on H1 chart. There a pullback to the support level of 96.37could happen. However, if bulls are still strong during this action, the USDX will rise to the resistance zone of 97.37, where it should perform a breakout towards the 97.72 level.

USDXH1.png

Daily chart's resistance levels: 96.57 / 97.57

Daily chart's support levels: 95.50 / 94.70

H1 chart's resistance levels: 97.37 / 97.62

H1 chart's support levels: 96.88 / 96.37

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 96.88, take profit is at 96.37, and stop loss is at 97.38.

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