InstaForex - Analytics

    InstaForex

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    Daily analysis of USDX for November 16, 2015

    On the H1 chart, the USDX keeps moving above the 200 SMA after a rebound performed during Friday's session. The resistance zone of 99.25 is still a very active zone for sellers, so the index could try a breakout above that level towards 99.80. Our outlook remains bullish as long as the index holds last session's lows. The MACD indicator is entering 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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