18.11.201601:00 Forex Analysis & Reviews: Daily analysis of USDX for November 18, 2016

Long-term review

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USDX remains strongly bullish, as we're not seeing a top in the near term. Currently, it's challenging the 101.00 psychological level, where a breakout should unleash more bullish force towards the 101.74 level. However, if the index manages to do a pullback at the current stage, then we can expect a decline to test the 99.92 level. MACD indicator remains supporting the bullish idea.

H1 chart's resistance levels: 101.00 / 101.74

H1 chart's support levels: 99.92 / 99.11

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 101.00, take profit is at 101.74 and stop loss is at 100.30.

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