06.09.201719:21 Forex Analysis & Reviews: Daily analysis of USDX for September 07, 2017

Long-term review

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The index remains bearish and today is looking to consolidate well below the 200 SMA at H1 chart. Focus remains placed in the August 29th lows and if USDX manages to break below that area, the psychological level of 91.00 could be the next target of interest for the sellers in the index. MACD indicator is turning negative, indicating that further weakness is coming.

H1 chart's resistance levels: 93.09 / 94.04

H1 chart's support levels: 92.34 / 91.67

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 92.34, take profit is at 91.67 and stop loss is at 93.00.

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