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Daily chart: The USDX has been weakening in its bullish bias in recent days, as the USDX remains below the 80.00 level. Additionally, we must take into account the USDX has formed a fractal near that level. For now, it is likely that the USDX will fall to the level of 79.50. The MACD indicator is entering the neutral territory.
H4 chart: The USDX has found resistance at the 79.93 level, so the bearish bias is trying to stay alive in the USDX. USDX is likely to fall back to the level of 79.60. If the USDX does make a breakout at that level, it will be expected to fall to the level of 79.33. The MACD indicator is in positive territory.
H1 chart: The USDX has consolidated above the 200 SMA, but this does not mean much, since the USDX remains below the resistance level of 79.88, so the bearish bias remains intact. However, if the USDX does make a breakout at that level, it will be expected to rise to the level of 80.15. The MACD indicator is in negative territory.
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 79.64, take profit is at 79.39, and stop loss is at 79.90.
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