For Traders

Analytical Reviews

Technical analysis

19.06.201723:37 Forex Analysis & Reviews: Daily analysis of USDX for June 20, 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 was favored by the bulls above the 200 SMA at H1 chart and it's heading to break above last Friday's highs. If that happens, we can expect a target to be reached around 97.75, which should add strength to bulls' force in the short-term. By the other side, if the index pulls back at the current stage, then a testing of the 96.95 level is likely to happen.

H1 chart's resistance levels: 97.41 / 97.75

H1 chart's support levels: 96.95 / 96.70

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 97.41, take profit is at 97.75 and stop loss is at 97.07.

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.