For Traders

Analytical Reviews

Technical analysis

18.05.201721:22 Forex Analysis & Reviews: Daily analysis of USDX for May 19, 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.

USDX gained momentum during the afternoon in the American session on Thursday, following reports of a video where former-FBI director James Comey suggested that there were no obstructions to investigations ongoing. Currently, the index is supported by the 97.50 level and that zone should give up to extend the bearish momentum towards 96.90. To the upside, the rebound should be limited by the 96.90 level.

H1 chart's resistance levels: 98.11 / 98.55

H1 chart's support levels: 97.50 / 96.90

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 97.50, take profit is at 96.90 and stop loss is at 98.10.

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.