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Daily analysis of USDX for November 05, 2015

USDX continues to ride the bullish bias towards the resistance level of 98.03, where a pullback is expected towards the support zone of 97.51 on a short-term basis. By the way, a breakout above that level first mentioned will push higher the Index until the 98.31 level, where a strong resistance zone is placed. 200 SMA is slightly bullish on H1 chart and MACD indicator remains on the positive territory.

USDXH1.png

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H1 chart's resistance levels: 97.16 / 97.51

H1 chart's support levels: 96.71 / 96.40

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 97.16, take profit is at 97.51, and stop loss is at 96.81.



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