empty
 
 
20.01.2015 01:36 AM
Daily analysis of USDX for January 20, 2015

The USDX is still following the bullish bias in the long term, because this instrument was forming a higher high pattern above the support level of 91.88 and during the last days, the bullish momentum has unleashed the buy orders at the USDX, giving it a good road to perform a consolidation above the resistance level of 93.02 in the near term. The MACD indicator is trying to enter the negative territory.

This image is no longer relevant

For a good intraday oulook on the USDX, we need to pay atrention to the bullish trend line that has been drawn from the January 15's low, giving strong support to the USDX at the moment on H1 chart. The 200 SMA is bullish, and bulls could be strong during this week, if the USDX performs a breakout at the resistance level of 92.88 with the formation of some bullish pattern.

This image is no longer relevant

Daily chart's resistance levels: 93.02 / 94.18

Dailychart's support levels: 91.88 / 90.28

H1 chart's resistance levels: 92.88 / 93.22

H1 chart's support levels: 93.55 / 92.05

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 92.88, take profit is at 93.22, and stop loss is at 92.55.

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