empty
 
 
17.06.2015 11:50 PM
Daily analysis of USDX for June 18, 2015

In the daily chart, the USDX finally broke the support level at 94.66 and now it's looking to test the next low of 93.75, which is a key zone on this time frame. However, we should be cautious with the current short trades in the mid term, because bulls could come again when the Index tests the level of 93.14.

This image is no longer relevant

The short-term outlook is very bearish, because the 200 SMA in the H1 chart turned bearish. Also, the USDX is currently forming a lower low pattern below the resistance level at 94.33. Targets are placed around the levels of 93.88 and 93.53 now. The downside is still there and bulls have no chances to dominate the intraday trend.

This image is no longer relevant

Daily chart's resistance levels: 94.66 / 95.74

Daily chart's support levels: 93.75 / 93.14

H1 chart's resistance levels: 94.33 / 94.63

H1 chart's support levels: 93.88 / 93.53

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 93.88, take profit is at 93.53, and stop loss is at 94.24.

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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