18.05.201721:22 Forex Analysis & Reviews: Daily analysis of USDX for May 19, 2017

Long-term review

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USDX gained momentum during the afternoon in the American session on Thursday, following reports of a video where former-FBI director James Comey suggested that there were no obstructions to investigations ongoing. Currently, the index is supported by the 97.50 level and that zone should give up to extend the bearish momentum towards 96.90. To the upside, the rebound should be limited by the 96.90 level.

H1 chart's resistance levels: 98.11 / 98.55

H1 chart's support levels: 97.50 / 96.90

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 97.50, take profit is at 96.90 and stop loss is at 98.10.

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