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 December 12, 2014

The USDX is forming a bearish pattern below the level of 88.63, which is a very strong resistance level. However, remember that this instrument is still alive in the current bullish bias, since the USDX is trying to make corrective moves to the support level of 87.35 in the medium term. The MACD indicator is moving into the negative territory.


Daily chart's resistance levels: 88.63 / 90.40


Dailychart's support levels: 87.35 / 86.20


USDXDaily.png

On the H1 chart, the USDX is consolidated in the bullish trend above the 200-day moving average. However, the level of 88.71 has rejected the price action of this instrument in the short term. So, the USDX is likely to fall to the support level of 88.43. For now, caution is advised when placing sell orders above the support level of 88.43. The MACD indicator is entering the overbought area.


H1 chart's resistance levels: 88.43 / 88.71


H1 chart's support levels: 88.15 / 87.86


USDXH1.png


Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 88.71, take profit is at 88.99, and stop loss is at 88.44.


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