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18.11.201523:13 Forex Analysis & Reviews: Daily analysis of USDX for November 19, 2015

Long-term review

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The US dollar index continues to trade below the resistance zone of 99.80, with no major moves after the FOMC minutes. The 200 SMA is in the H1 chart. However, the USDX is still focused on reaching new highs above the level of 100.00. By the way, if the index continues to trade inside the bullish bias in coming days, then it could rally towards the level of 100.25.

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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