For Traders

Analytical Reviews

Technical analysis

25.06.201500:35 Forex Analysis & Reviews: Daily analysis of USDX for June 25, 2015

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 daily chart structure is showing a double bottom pattern, which could help bulls get some kind of momentum in the coming days in order to reach new highs. However, we could expect more pullbacks when the USDX tests the resistance level of 95.74. The MACD indicator is entering the positive territory.

On the H1 chart, there is a good opportunity to enter with long trades, but be cautious with the current strength of the resistance level of 95.48. Anyway, if it does a breakout there, the level of 95.80 will be the next target.

Daily chart's resistance levels: 95.74 / 96.57

Daily chart's support levels: 94.66 / 93.75

H1 chart's resistance levels: 95.48 / 95.80

H1 chart's support levels: 95.24 / 94.63

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US Dollar Index breaks with a bullish candlestick; the resistance level is at 95.48, take profit is at 95.80, and stop loss is at 95.10.

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.