Daily analysis of USDX for November 17, 2015 Market Analysis Review

The USDX continues moving higher above the support level of 99.25, so the next target could be placed at the level of 99.80. A breakout higher will open the doors to the next resistance level of 100.25, which could produce a huge pullback in progress. The 200 SMA is slightly bullish and we can expect a rally towards the level of 99.80 soon.

H1 chart's resistance levels: 99.80 / 100.25

H1 chart's support levels: 99.25 / 98.31

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US dollar index breaks with a bullish candlestick; the resistance level is seen at 99.80, take profit is at 100.25, and stop loss is at 99.37.

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