Daily analysis of USDX for July 31, 2017
July 30, 2017 6:57 pmVideo
Latest News
- Week Ahead – Focus on US retail sales as debt ceiling drama rumbles on May 12, 2023
- Forex forecast 05/12/2023 GBP/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga May 12, 2023
- EUR/USD and GBP/USD trading plan for beginners on May 12, 2023 May 12, 2023
- Three Reasons to Sell Bitcoin May 12, 2023
- Technical Analysis of Daily Price Movement of Ripple Cryptocurrency, Friday May 12 2023. May 12, 2023
- Technical Analysis of Daily Price Movement of Ethereum Cryptocurrency, Friday May 12 2023. May 12, 2023
- Daily Market Comment – Dollar gains despite increasing Fed cut bets May 12, 2023
- Technical Analysis – GBPCAD bulls catch their breath after strong rally May 12, 2023
- Technical Analysis – USDCAD rebounds strongly above 200-day SMA May 12, 2023
- Indicator analysis: Daily review of GBP/USD on May 12, 2023 May 12, 2023
- Indicator analysis: Daily review of EUR/USD on May 12, 2023 May 12, 2023
- BTC update for May 12,.2023 – Downside breakout of the defined trading range May 12, 2023
- GBPUSD analsysis for May 12 , 2023 – Rejection of the key support at 1.2500 May 12, 2023
- Analysis of Gold for May 12, 2023 – Potential for the further upside movement today May 12, 2023
- Hot forecast for EURUSD on 12/05/2023 May 12, 2023
- Analysis and trading tips for GBP/USD on May 12 May 12, 2023
- Analysis and trading tips for EUR/USD on May 12 May 12, 2023
- Technical Analysis – GBPJPY rebounds off 168.00 in short-term May 12, 2023
- Technical Analysis of ETH/USD for May 12, 2023 May 12, 2023
- Technical Analysis of BTC/USD for May 12, 2023 May 12, 2023
The USDX is still below the 200 SMA in thet H1 chart and it is forming a possible double bottom around the 93.25 level. THe weakness is limited and we can expect some consolidation moves in the first days of the week. However, if the 93.25 level gives up, further declines are expected to happen towards 92.29 level.
H1 chart’s resistance levels: 94.00 / 94.57
H1 chart’s support levels: 93.25 / 92.29
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 93.25, take profit is at 92.29 and stop loss is at 94.20.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: