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14.11.201622:03 Forex Analysis & Reviews: Daily analysis of USDX for November 15, 2016

Long-term review

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The index managed to reach the key area of 100.00 as the bulls remain unstoppable in the short-term. A strong resistance can be seen around 100.29, where USDX should make a breakout higher in order to rally towards the 101.74 level across the board. However, if the index starts to do a pullback at the current stage, we can find a support at the 99.62 level.

H1 chart's resistance levels: 100.29 / 101.74

H1 chart's support levels: 98.65 / 98.00

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 100.29, take profit is at 101.74 and stop loss is at 98.85.

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