empty
 
 
07.07.2014 02:50 AM
Daily analysis of USDX for July 07, 2014

Daily chart: The USDX continues its bullish movements above the support level of 80.11 and is now approaching the 200-day moving average, where the USDX could find resistance. However, if the USDX does make a breakout on the resistance level of 80.62, it's expected to rise to the level of 81.50 in the medium term. The MACD indicator is oversold.

This image is no longer relevant

H4 chart: The USDX is trying to stay above the 200 SMA with the formation of a lower high pattern. If the USDX does make a breakout on the resistance level of 80.34, it's expected to rise to the level of 80.60. For now, the USDX is trying to find a clear trend for this week. The MACD indicator is in positive territory.

This image is no longer relevant

H1 chart: The USDX continues to move in the range above 200 SMA and the support level of 80.15. However, the USDX could make a pullback at current levels and fall back to the support level of 80.15. If the USDX does make a breakout in the support level of 80.15, it's expected to fall to the level of 79.88. The MACD indicator is entering neutral 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 80.15, take profit is at 79.88, and stop loss is at 80.42.

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
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 $6000 more!
    In December we raffle $6000 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
  • 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