empty
 
 
27.11.2014 12:35 AM
Daily analysis of USDX for November 27, 2014

On the H4 chart, the USDX has made a breakout in the bullish trend line located at the level of 87.70. This instrument is likely to touch the support level of 87.35. For now, caution is recommended when placing buy orders in the USDX, as the MACD indicator remains in the negative territory.

H4chart's resistance levels: 87.93 / 88.19

H4chart's support levels: 87.35 / 87.18

This image is no longer relevant

In the H1 chart, the USDX is forming a lower low pattern above the support level of 87.58. The USDX has consolidated below the 200-day moving average which could start a bearish trend in the medium and long term. If the USDX takes a breakout at the support level, it would be expected to fall to the level of 87.28.

H1 chart's resistance levels: 87.86 / 88.15

H1 chart's support levels: 87.58 / 87.28

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 87.86, take profit is at 88.15, and stop loss is at 87.59.

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