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23.05.201821:16 Forex Analysis & Reviews: Daily analysis of USDX for May 24, 2018

Long-term review

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USDX is looking to break above the resistance zone of 94.10, as the focus remains in place at 94.88. The bulls are strengthening across the board and that's why we would expect further gains in the short-term. To the downside, if the 94.10 level produces a pullback in the index, then all your attention must be devoted to the support zone of 93.12.

H1 chart's resistance levels: 94.10 / 94.88

H1 chart's support levels: 93.12 / 92.33

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 94.10, take profit is at 94.88, and stop loss is at 93.30.

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