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    Daily analysis of USDX for April 28, 2015

    The USDX is still falling in the daily time frame and we expect to see a breakout of the support zone of 96.30. The current fractal structure is likely to point to the downwards (and it seems to do it), as the Index has been forming a successful lower low pattern over the recent days. Anyway, we cannot discard the idea of a rebound at the current levels.

    USDXDaily.png

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    The resistance level at 96.83 still offers a strong barrier in the intraday charts. Now, the USDX is going to test the support at 96.34. If the USDX does a breakout in that zone, it will to fall to the level of 95.87, which is seen to be a new important monthly low. The MACD is also entering into a negative territory.

    USDXH1.png

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    Daily chart's resistance levels: 97.83 / 99.94Dailychart's support levels: 96.30 / 95.00H1 chart's resistance levels: 96.83 / 97.18H1 chart's support levels: 96.34 / 95.87

    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 96.34, take profit is at 95.87, and stop loss is at 96.83.

    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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