For Traders

Analytical Reviews

Technical analysis

22.09.201621:36 Forex Analysis & Reviews: Daily analysis of USDX for September 23, 2016

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.

USDX had a very bearish early session on Thursday as expected, following the FOMC meeting and Yellen's comments on Wednesday, but it managed to erase most of its gains and currently, the index is facing the resistance zone of 95.49. If we see a breakout higher, then we could expect that USDX consolidates above the 200 SMA and rise towards the 95.79 level, where it was a formed a key demand zone during September 19-20th sessions.

H1 chart's resistance levels: 95.49 / 95.79

H1 chart's support levels: 95.01 / 94.61

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 95.49, take profit is at 95.79 and stop loss is at 95.19.

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.