empty
 
 
22.07.2014 02:32 AM
Daily analysis of USDX for July 22, 2014

Daily chart: The USDX remains strong in the bullish trend, because its is above the 200-day moving average, where the USDX is trying to form a bullish pattern. If the USDX manages to consolidate above the 80.62 level, it is expected to rise to the level of 81.05 in the medium term. The MACD indicator is in positive territory.

This image is no longer relevant

H4 chart: The USDX is trying to make a breakout on the resistance level of 80.60, so the next target would be the level of 81.02. However, it is very likely that the USDX make a pullback, although the USDX remains very strong even in the bullish bias. The MACD indicator is in negative territory.

This image is no longer relevant

H1 chart: The USDX continues to find resistance at the 80.59 level, while the USDX remains robust in the bullish trend, because the 200-day moving average is below the current price of the USDX. However, if the USDX does make a bearish rebound, next target would be the support level of 80.35. The MACD indicator is entering 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 support level is at 80.59, take profit is at 80.73, and stop loss is at 80.45.

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