logo

FX.co ★ Daily analysis of USDX for July 12, 2017

Daily analysis of USDX for July 12, 2017

The index was under heavy selling pressure amid Trump Jr. emails' release and that's why we expect it could test the support zone of 95.77. Also, USDX is finding dynamic resistance in the 200 SMA at H1 chart and a breakout below 95.77 should open the doors to test the 95.10 level. MACD indicator remains in the negative territory, supporting the bearish bias.

Daily analysis of USDX for July 12, 2017

See also: Start Forex trading with a European level broker!

H1 chart's resistance levels: 96.77 / 97.20

H1 chart's support levels: 96.38 / 95.77

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 95.77, take profit is at 95.10 and stop loss is at 96.42.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Open trading account