26.06.201623:02 Forex Analysis & Reviews: Daily analysis of USDX for June 27, 2016

Long-term review

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The H1 chart structure is showing a bullish pattern in formation above the support level of 95.20, after a reaction higher by the Brexit referendum's results. This put the Index into a very strong bullish scenario above the 200 SMA, and a possible breakout above the 95.89 level will open the doors to test the 96.60 level. The MACD indicator remains in negative territory, favoring a deeper correction towards the 94.71 level.

H1 chart's resistance levels: 95.89 / 96.60

H1 chart's support levels: 95.20 / 94.71

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 95.89, take profit is at 96.60, and stop loss is at 95.18.

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