For Traders

Analytical Reviews

Technical analysis

13.04.201723:02 Forex Analysis & Reviews: Daily analysis of USDX for April 14, 2017

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.

Despite the strong decline lived during Wednesday's session following Trump's comments on the greenback, USDX recovered from the lows posted after the headlines were reported to the press and now it's consolidating around 100.54, where it's located the 200 SMA at H1 chart. If the index does a breakout above 100.60, then it can test the 101.00 psychological area.

H1 chart's resistance levels: 100.54 / 100.97

H1 chart's support levels: 100.14 / 99.79

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 100.14, take profit is at 99.79 and stop loss is at 100.47.

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.