Daily chart: The USDX is consolidating above the 200 SMA with the formation of a bullish pattern. Yesterday's session was used by the USDX for some corrective movements, so it is very likely that during these days, the USDX will continue to rise. However, any consolidation below the 200 SMA may indicate a change in trend. The MACD indicator is still in positive territory.
H4 chart: The USDX remains below the resistance at the level of 81.29, while it is forming a bullish pattern to continue rising. However, if the USDX makes a bearish rebound in the level of 81.19, is expected to fall to the support level of 80.99. If the USDX manages to break that level, it would be expected to fall to the level of 80.83. The MACD indicator is in neutral territory.
H1 chart: The support level of 81.09 seems quite strong in this chart, so it is very likely that the USDX will perform a further consolidation above this level and above the 200 SMA. If the USDX manages to break the resistance level at 81.40, it would be expected to rise to the level of 81.58. However, we note that there is a point of close monitoring that could serve as a drag on the USDX. The MACD indicator is in positive territory.
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USDX Index breaks with a bullish candlestick; the resistance level is at 81.40, take profit is at 81.58, and stop loss is at 81.22.
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