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    Daily analysis of USDX for April 22, 2015

    There is no significative changes in the structure of the USDX on the daily time frame as the index is still alive in the overall bullish trend, but it could fall again to the support zone of 96.30. Anyway, the USDX could ride again the bullish bias in the coming days, because the current price action is still supported by the upside momentum in the medium term.

    USDXDaily.png

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    The H1 chart outlook seems to be favored by the sellers force as the USDX found a dynamic resistance at the 200 SMA and now it's trying to break the support level of 97.52. If successful, the USDX could fall until the level of 97.18 in the coming hours but be aware of possible rebounds at the current levels. The MACD indicator is still at the negative territory.


    USDXH1.png

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    Daily chart's resistance levels: 99.12 / 99.94Dailychart's support levels: 97.83 / 96.30H1 chart's resistance levels: 97.98 / 98.24H1 chart's support levels: 97.52 / 97.18

    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 97.52, take profit is at 97.18, and stop loss is at 97.84.

    Felipe Erazo neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door MT5.com portal. Als u zijn artikel goed vindt, stemt u dan op hem.

    Uitgevoerd door, Analytische expert
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