20.11.201621:18 Forex Analysis & Reviews: Daily analysis of USDX for November 21, 2016

Long-term review

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A nonstop rally of the US Dollar Index continues to set the tone for the markets, as we're seeing a consolidation above the 101.00 psychological level. Eventually, the index may reach the 102.00 area during this week, as investors continue pricing a possible Fed's rate hike in December meeting.

If USDX manages to break the 101.74 level, the next resistance would be the 102.61 level.

H1 chart's resistance levels: 101.74 / 102.61

H1 chart's support levels: 100.53 / 99.39

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish resistance level is at 101.74, take profit is at 102.61 and stop loss is at 100.87.

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