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18.07.2014 03:02 AM
Daily analysis of USDX for July 18, 2014

Daily chart: The USDX remains above the 200 SMA without major changes, although the USDX is trying to form a pattern for a bullish breakout at the resistance level of 80.62. If the USDX does make a breakout at that level, it would be expected to rise to the level of 81.00. The MACD indicator is in positive territory.

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H4 chart: The USDX is making a bullish consolidation above the support level of 80.35, so it is very likely that the USDX rises to the resistance level of 81.02. If the USDX does make a breakout at that level, it would be expected to rise to the level of 81.35, where's a bullish trend line. The MACD indicator is in the overbought zone.

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H1 chart: The USDX continues to find resistance at the level of 80.59, but it is likely to make a pullback and fall to the support level of 80.35. If the USDX does make a breakout on the resistance level of 80.59, it's expected to rise to the level of 80.73, which would be the next target bullish road. The MACD indicator is oversold.

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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 support level is at 80.59, take profit is at 80.73, and stop loss is at 80.45.

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