09.11.201623:56 Forex Analysis & Reviews: Daily analysis of USDX for November 10, 2016

Long-term review

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USDX plunged to test fresh lows around the 95.90 level, as Donald Trump managed to win the US presidential elections 2016. However, as the time passed, the index managed to erase the losses and now we're seeing that a resistance level placed at 98.65 is being challenged. If USDX does a breakout over there, then we can expect an advance towards the 99.08 level.

H1 chart's resistance levels: 98.65 / 99.08

H1 chart's support levels: 98.01 / 97.62

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 98.65, take profit is at 99.08 and stop loss is at 98.23.

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