empty
 
 
25.07.2014 02:40 AM
Daily analysis of USDX for July 25, 2014

Daily chart: The USDX continues to show strength in the current bullish trend as the USDX has strongly consolidated above the support level of 80.62. Additionally, the next objective for the USDX would be the resistance level of 81.00. If the USDX does make a breakout at that level, it would be expected to rise to the resistance level of 81.50. The MACD indicator is in positive territory.

This image is no longer relevant

H4 chart: The USDX remains above the support level of 80.60, so the USDX is trying to make a breakout on the resistance level of 81.02. If successful, it is expected to rise to the level of 81.40. Furthermore, if USDX is able to consolidate below the level of 80.60, it's expected to fall to the level of 80.34. The MACD indicator is in neutral territory.

This image is no longer relevant

H1 chart: The USDX has been moving in a range for the last few hours, so the next target remains the resistance level of 80.93. If the USDX does make a breakout at that level, the next target would be the resoistance level of 81.10. For now, the bullish trend is strong and buy orders are recommended. The MACD indicator is entering neutral 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 80.93, take profit is at 81.09, and stop loss is at 80.78.

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 $8000 more!
    In March we raffle $8000 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