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07.09.2017 07:20 PM
Daily analysis of USDX for September 08, 2017

USDX had another bearish session during Thursdays with the bears taking control of the situation, now with the focus placed towards the 90.30 level. This is a likely scenario given that it's breaking August 29th lows and Bollinger bands are calling for another leg lower. To the upside, if it manages to do a rebound, then we can expect a rally to test the 200 SMA once again at H1 chart.

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H1 chart's resistance levels: 93.09 / 94.04

H1 chart's support levels: 91.67 / 90.30

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 91.67, take profit is at 90.30 and stop loss is at 93.04.

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