The index has been moving sideways, but it still favors the bullish bias in the short-term. The resistance zone of 100.24 is still a very strong hurdle for the overall trend and a breakout higher will perform a bullish consolidation on the USDX, which can last in the short and medium- terms. The 200 SMA is slightly bullish and the MACD indicator remains at the negative territory.
H1 chart's resistance levels: 100.24 / 101.01
H1 chart's support levels: 99.80 / 99.25
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USDX breaks with a bullish candlestick; the resistance level is seen at 100.24, take profit is at 101.01, and stop loss is at 99.48.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of USDX for December 01, 2015 . Thanks for your support.
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