20.07.201721:24 Forex Analysis & Reviews: Daily analysis of USDX for July 21, 2017

Long-term review

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USDX plummeted to test the support zone of 94.16 following Trump's headlines that still are the main drivers for the index. Broad based USD weakness could increase if we notice a breakout below the 94.16 level, which should open the doors for a testing of the support level of 93.29. MACD indicator remains in the negative territory, favoring for more declines.

H1 chart's resistance levels: 94.85 / 95.57

H1 chart's support levels: 94.16 / 93.29

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 94.16, take profit is at 93.29 and stop loss is at 95.02.

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