21.11.201621:58 Forex Analysis & Reviews: Daily analysis of USDX for November 22, 2016

Long-term review

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The US Dollar index still keeps its bullish tone above the support zone of 100.53, but finally during Monday's session, we saw some corrective moves, as the index is extending a nonstop rally to the upside across the board. The next target in the bullish bias is still placed at the 101.74 level, where a breakout should open the doors to test 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 candlestick; the resistance level is at 101.74, take profit is at 102.61 and stop loss is at 100.87.

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