Daily analysis of USDX for January 28, 2015
January 28, 1982 2:22 pmVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 19-22, 2024: sell below $2,395 (+2/8 Murray – overbought) April 19, 2024
- USD/JPY: Simple Trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- EUR/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: trading plan for the US session on April 19th (analysis of morning deals). The pound is trying to regain its advantage April 19, 2024
- EUR/USD: trading plan for the US session on April 19th (analysis of morning deals). The euro compensated for the losses April 19, 2024
- Storm in a teacup: EUR/USD analysis April 19, 2024
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
The USDX had a pullback below the support level of 94.18, as a result of normal correction moves that the instruments had to do to follow the general bullish bias without overbought levels at the oscillators, such as the MACD indicator. By the way, the USDX could extend the
retracement until the support level of 93.02. The 200 SMA is still
bullish.
The bias on the H1 chart is bearish,
as the USDX had a deep fall until the 200 SMA, where later this
instrument did a rebound and got consolidated above the support level
of 94.02. Currently, the USDX is forming a bearish pattern, but that
rebound could be an indication of a dynamic support found on that
zone, as the USDX is taking a breath to continue strengthening the
general bullish bias.
Daily chart’s
resistance levels: 94.18 / 97.52
Dailychart’s
support levels: 93.02 / 92.02
H1 chart’s resistance
levels: 94.38 / 94.78
H1 chart’s support levels: 94.02
/ 93.67
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 94.38,
take profit is at
94.78,
and stop loss is at 94.01.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: