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08.12.201523:39 Forex Analysis & Reviews: Daily analysis of USDX for December 09, 2015

Long-term review

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On the H1 chart, the USDX did not show any considerable changes during Tuesday's session, as the index is trying to found strong resistance around the level of 98.80 in order to fall towards the support zone of 97.60 where buyers can appear. Anyway, our outlook for the USDX is still bearish in a short-term basis, but a rally towards the 200 SMA cannot be discarded yet.

H1 chart's resistance levels: 98.80 / 99.25

H1 chart's support levels: 97.60 / 97.01

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the ISDX breaks with a bullish candlestick; the resistance level is at 98.80, take profit is at 99.25, and stop loss is at 98.34.

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