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25.04.201823:33 Forex Analysis & Reviews: Daily analysis of USDX for April 26, 2018

Long-term review

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USDX is gathering enough bullish momentum to continue pointing to the upside, as the nearest target lies at 91.75. The 90.63 level is trying to act as a support and one can expect further gains that help the index to consolidate the price action above the psychological level of 92.00. To the downside, if the 90.63 level gives up, a leg lower towards the 200 SMA in the H1 chart is possible.

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.

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