empty
 
 
10.07.2014 03:01 AM
Daily analysis of USDX for July 10, 2014

Daily chart: The USDX has made a breakout at the level of 80.11. So, the next support is at the level of 79.70. If the USDX does make a breakout at that level, it is expected to fall to the level of 79.19, which would be a strong bearish consolidation on this chart. The MACD indicator is in the negative territory.

This image is no longer relevant

H4 chart: The USDX again found resistance at the 80.24 level, where the 200 SMA is located. Now, the USDX is trying to make a breakout at the support level of 79.93. If successful, it is expected to fall to the level of 79.74. On the other hand, if the USDX does make a breakout at that level, it is expected to fall to the level of 79.50. The MACD indicator is in the negative territory.

This image is no longer relevant

H1 chart: The USDX is trying to form a higher low pattern below the 80.15 level. If the USDX does make a breakout at the support level of 79.88, it is expected to fall to the level of 79.64. On the other hand, if the USDX makes a bullish rebound at the current levels, it is expected to rise to the level of 80.15. The MACD indicator is in the 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 support level is at 79.88, take profit is at 79.64, and stop loss is at 80.12.

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