empty
 
 
18.04.2014 05:25 PM
Daily analysis of USDX for April 18, 2014

Daily chart: The USDX has been weakening in its bullish bias in recent days, as the USDX remains below the 80.00 level. Additionally, we must take into account the USDX has formed a fractal near that level. For now, it is likely that the USDX will fall to the level of 79.50. The MACD indicator is entering the neutral territory.

This image is no longer relevant

H4 chart: The USDX has found resistance at the 79.93 level, so the bearish bias is trying to stay alive in the USDX. USDX is likely to fall back to the level of 79.60. If the USDX does make a breakout at that level, it will be expected to fall to the level of 79.33. The MACD indicator is in positive territory.

This image is no longer relevant

H1 chart: The USDX has consolidated above the 200 SMA, but this does not mean much, since the USDX remains below the resistance level of 79.88, so the bearish bias remains intact. However, if the USDX does make a breakout at that level, it will be expected to rise to the level of 80.15. The MACD indicator is in negative territory.

This image is no longer relevant

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 79.64, take profit is at 79.39, and stop loss is at 79.90.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback