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02.12.201523:52 Forex Analysis & Reviews: Daily analysis of USDX for December 03, 2015

Long-term review

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The USDX made a strong pullback around the level of 100.24 as the Fed Yellen's speech produced that kind of volatility. We can see a test of the 200 SMA on the H1 chart in coming days, because the index can perform a rebound over there towards the resistance zone of 100.24. We should remind that a breakout above it will open the door to the price zone of 101.00. The MACD indicator is at the negative territory.

H1 chart's resistance levels: 100.24 / 101.01

H1 chart's support levels: 99.80 / 99.25

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 100.24, take profit is at 101.01, and stop loss is at 99.48.

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