InstaForex - Analytics

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    Daily analysis of USDX for November 18, 2015

    On the H1 chart, the USDX has been trading above the support level of 99.25, and the resistance level of 99.80 seems to be the closest level in the upside road. A consolidation above it will push the index higher towards the key zone around 100.25. However, we cannot discard a pullback at current levels, because the USDX is looking for a way to fall until the level of 99.25. The MACD indicator is entering the negative territory.

    USDXH1.png

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    H1 chart's resistance levels: 99.80 / 100.25

    H1 chart's support levels: 99.25 / 98.31

    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 99.80, take profit is at 100.25, and stop loss is at 99.37.


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