In the daily chart, the USDX continues to strengthen the bullish trend on the way to the resistance level of 86.20. Currently, the USDX remains strong in the bullish trend, due to the fact that the support level of 84.70 has managed to stop the fall in this instrument , so the USDX could try to make a breakout at the level of 86.20.
Dailychart's resistance levels: 86.20 / 87.35
Dailychart's support levels: 85.18 / 84.29
On the H1 chart, the USDX remains within the range between 85.95 and 85.73 levels. However, the USDX is concentrating efforts to make a definitive breakout on the resistance level of 85.95. However, the USDX could perform a bullish retracement to the level of 85.49.
H1 chart's resistance levels: 85.95 / 86.17
H1 chart's support levels: 85.73 / 85.49
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 85.95, take profit is at 86.17, and stop loss is at 85.73.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of USDX for October 24, 2014 . Thanks for your support.
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