16.11.201523:34 Forex Analysis & Reviews: Daily analysis of USDX for November 17, 2015

Long-term review

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The USDX continues moving higher above the support level of 99.25, so the next target could be placed at the level of 99.80. A breakout higher will open the doors to the next resistance level of 100.25, which could produce a huge pullback in progress. The 200 SMA is slightly bullish and we can expect a rally towards the level of 99.80 soon.

H1 chart's resistance levels: 99.80 / 100.25

H1 chart's support levels: 99.25 / 98.31

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 seen at 99.80, take profit is at 100.25, and stop loss is at 99.37.

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