FX.co ★ Daily analysis of USDX for September 03, 2014

Daily chart: The USDX is trying to climb up to the resistance level of 83.22, so it is very likely that the USDX will begin another bullish pattern. If the USDX manages to make a breakout at that level, the next would be the resistance level of 83.74. The MACD indicator stays in positive territory.

H4 chart: The USDX is trying to form a higher high pattern above the bullish trend line, so the USDX could rise to the level of 83.70 in the medium term. The USDX is maintained above the 200-day moving average and the MACD indicator stays in positive territory.

H1 chart: The USDX has moved in a range below the resistance level of 82.97, although this instrument remains strong in the bullish trend. If the USDX manages to make a breakout at the resistance level of 83.27, it's expected to that rise to the level of 83.52. The MACD indicator remains in negative territory.

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 82.85, take profit is at 82.97, and stop loss is at 82.72.