Daily analysis of USDX for December 08, 2017

USDX is extending the recovery phase above the resistance level of 93.60 and it's now targeting the 94.00 psychological zone. Fractals have been formed between Tuesday and Wednesday sessions and it's an indicator that the index could remain supported in order to reach the critical level mentioned above. MACD indicator is entering the neutral territory.

USDXH1.png

H1 chart's resistance levels: 93.60 / 93.98

H1 chart's support levels: 92.70 / 91.85

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 92.70, take profit is at 91.85 and stop loss is at 93.53.

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