empty
 
 
14.07.2014 02:33 AM
Daily analysis of USDX for July 14, 2014

Daily chart: The USDX has made a breakout again at the resistance level of 80.11, where the USDX is trying to build a solid bullish road to consolidate above the resistance level of 80.62. If the USDX does make a breakout at that level, the next target in the long term would be the level of 81.50. The MACD indicator is in the positive territory.

This image is no longer relevant

H4 chart: The USDX is finding resistance at the 200-day moving average, which probably trigger a pullback and fall to the support level of 80.09, because the U.S. dollar has been very weak in recent days. However, if the USDX does make a breakout at the level of 80.24, it's expected to rise to the resistance level of 80.34. The MACD indicator is in the positive territory.

This image is no longer relevant

H1 chart: The USDX is consolidating above the 200 SMA and the support level of 80.15. However, the bearish outlook still remains alive because the USDX has not touched the resistance level of 80.35. If the USDX does make a breakout at the support level of 80.15, it is expected to fall to the level of 79.88.

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.

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 $9000 more!
    In May we raffle $9000 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