For Traders

Analytical Reviews

Technical analysis

24.04.201821:02 Forex Analysis & Reviews: Daily analysis of USDX for April 25, 2018

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The index is forming a higher high pattern above the 90.63 level, which is now acting as a support. The focus is now placed on the 91.75 level, where the bulls could gather momentum in order to extend the bias for the short-term. However, a breakout below 90.63 should expose the 200 SMA at H1 chart. MACD indicator is favoring the bearish bias, as it stays in the negative territory.

H1 chart's resistance levels: 90.63 / 91.75

H1 chart's support levels: 89.36 / 87.88

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bearish candlestick; the support level is at 90.63, take profit is at 91.75 and stop loss is at 89.49.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.