InstaForex - Analytics

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    Daily analysis of USDX for November 11, 2015

    The index id still moving sideways showing the bullish intentions in the short term. A breakout above that zone will open the doors to a test at the level of 99.80. However, a pullback at current levels will push the USDX lower towards the support level of 98.31, where a rebound is expected because of the 200 SMA current location. The MACD indicator is still seen at the negative territory.

    USDXH1.png

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    H1 chart's resistance levels: 99.25 / 99.80

    H1 chart's support levels: 98.31 / 98.03

    Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US dollar index breaks with a bullish candlestick; the resistance level is seen at 99.25, take profit is at 99.80, and stop loss is at 98.71.


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