20.12.201722:42 Forex Analysis & Reviews: Daily analysis of USDX for December 21, 2017

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The index remains supported by the 93.30 level and waits for a fresh catalyst that decides the next path for the short-term. The 200 SMA at the H1 chart is providing the path to USDX and it seems we can expect further bearish moves. If that level gives up, it's likely to see a decline towards the 92.83 level. MACD indicator is in the positive territory, favoring to the bulls.

H1 chart's resistance levels: 94.09 / 94.85

H1 chart's support levels: 93.30 / 92.83

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 93.30, take profit is at 92.83 and stop loss is at 93.76.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.