#USDX has the potential to strengthen today toward its nearest resistance level

[Ben Graham]

[#USDX]

With all technical analysis conditions indicating the strength, #USDX has the opportunity to rise toward its nearest resistance level today.

Key Levels

1. Resistance. 2 : 98.13

2. Resistance. 1 : 97.92

3. Pivot : 97.50

4. Support. 1 : 97.29

5. Support. 2 : 96.87

Tactical Scenario

Positive Reaction Zone: If #USDX holds at 97.50, there is a chance it will move up toward 97.92.

Momentum Extension Bias: If 97.92 is broken, there is potential for further upside toward 98.13.

Invalidation Level / Bias Revision

The upside bias weakens if #USDX falls below 96.87.

Technical Summary

EMA(50) : 97.47

EMA(200): 97.20

RSI(14) : 73.49

Economic News Release Agenda:

Tonight the United States will release the following economic data:

US - Unemployment Claims - 20:30 WIB

US - Philly Fed Manufacturing Index - 20:30 WIB

US - Goods Trade Balance - 20:30 WIB

US - Prelim Wholesale Inventories m/m - 20:30 WIB

US - Trade Balance - 20:30 WIB

US - Pending Home Sales m/m - 22;00 WIB

US - CB Leading Index m/m - 22:00 WIB

US - Natural Gas Storage - 22:30 WIB

US - Crude Oil Inventories - 00:00 WIB

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