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17.10.201719:12 Forex Analysis & Reviews: Daily analysis of USDX for October 18, 2017

Long-term review

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The index was under a buying interest across the board, pushing higher above the 200 SMA on the H1 chart. Currently, it is targeting the resistance level of 94.58, at which lies a key barrier for buyers. With a pullback below 93.35, we can expect a leg lower towards the psychological level of 93.00. The MACD indicator remains in the positive territory.

H1 chart's resistance levels: 93.35 / 94.58

H1 chart's support levels: 93.00 / 91.67

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 93.35, take profit is at 94.58 and stop loss is at 92.66.

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