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11.09.2014 10:15 PM
Daily analysis of USDX for September 12, 2014

Daily chart: The USDX continues moving in the range below the resistance level of 84.29, although the USDX keeps on trying to make a breakout at that level to climb to the resistance level of 85.18. However, this instrument is overbought. The MACD indicator stays in the positive territory.

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H4 chart: The USDX is strengthening in the bullish trend above the psychological level of 84.00. So, the USDX is trying to make a breakout at the resistance level of 84.47 up to the level of 85.06. However, the USDX could begin to perform corrective movements. The MACD indicator remains in the negative territory.

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H1 chart: The USDX has made a rebound from the level of 84.05, so the USDX is consolidating itself back above the support level of 84.18. Now, the USDX is trying to make a breakout at the resistance level of 84.37. The MACD indicator stays in the positive territory.

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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 84.18, take profit is at 84.37, and stop loss is at 83.99.

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