empty
 
 
15.05.2014 05:29 AM
Daily analysis of USDX for May 15, 2014

Daily chart: The USDX has found resistance at the 80.11 level and in that area, the USDX has formed a fractal. The USDX could fall to the level of 79.85, where the USDX could perform a bullish rebound. However, if the USDX does make a breakout at the support level of 79.65, it's expected to fall to the level of 79.19. The MACD indicator is in positive territory.

This image is no longer relevant

H4 chart: The USDX is trying to stay above the 200 SMA with the formation of a bullish pattern. If the USDX does make a breakout on the resistance level of 80.15, it would be expected to rise to the level of 80.35, which would be a bullish consolidation. The MACD indicator is in negative territory .

This image is no longer relevant

H1 chart: The USDX continues moving in a low range above the support level of 79.88, so the USDX has high chances of staying in sideways movement for the rest of the week. However, if the USDX does make a breakout on the resistance level of 80.15, it's expected to rise to the level of 80.35. The MACD indicator is in negative territory.

This image is no longer relevant

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 80.15, take profit is at 80.35, and stop loss is at 79.95.

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