Daily chart: The USDX continues prolonging fall below the 200 SMA and now the USDX is trying to make a breakout at the support level of 80.11. If successful, it is expected to fall to the level of 79.19, which could prolong the bearish outlook for several more weeks. The MACD indicator is in negative territory.
H4 chart: The USDX has found support at the 80.09 level, which is below the 200- day moving average, so it is very likely that the USDX make a breakout at that level. If successful, it is expected to fall to the level of 79.33, where it is located one bullish trend line that could serve as support. The MACD indicator is in negative territory.
H1 chart: The USDX is consolidating below the 80.15 level with the formation of a bearish pattern. Now, it is likely that the USDX to fall to the support level of 79.88. If the USDX does make a breakout at that level, it would be expected to fall to the level of 79.64. The MACD indicator is entering negative territory.
Show full picture 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 79.88, take profit is at 79.64, and stop loss is at 80.12.
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Performed by Felipe Erazo, Analytical expert InstaForex Group © 2007-2014 |
Daily analysis of USDX for June 27, 2014
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