Thursday 17 July 2014

Daily analysis of USDX for July 18, 2014 Trend News

Daily chart: The USDX remains above the 200 SMA without major changes, although the USDX is trying to form a pattern for a bullish breakout at the resistance level of 80.62. If the USDX does make a breakout at that level, it would be expected to rise to the level of 81.00. The MACD indicator is in positive territory.


USDXDaily.png

H4 chart: The USDX is making a bullish consolidation above the support level of 80.35, so it is very likely that the USDX rises to the resistance level of 81.02. If the USDX does make a breakout at that level, it would be expected to rise to the level of 81.35, where's a bullish trend line. The MACD indicator is in the overbought zone.


USDXH4.png

H1 chart: The USDX continues to find resistance at the level of 80.59, but it is likely to make a pullback and fall to the support level of 80.35. If the USDX does make a breakout on the resistance level of 80.59, it's expected to rise to the level of 80.73, which would be the next target bullish road. The MACD indicator is oversold.


USDXH1.png


Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the support level is at 80.59, take profit is at 80.73, and stop loss is at 80.45.


The material has been provided by InstaForex Company - www.instaforex.com



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