Daily analysis of USDX for January 29, 2014
January 29, 2014 5:00 amVideo
Latest News
- What do Q1 earnings hold for Disney’s stock? – Stock Markets May 1, 2024
- Will the post-FOMC jobs report move the dollar? – Preview May 1, 2024
- Forex forecast 05/01/2024: EUR/USD, GBP/USD, USD/JPY, SP500 and Oil from Sebastian Seliga May 1, 2024
- Market Comment – Dollar enjoys a bid; stocks concerned about a hawkish Fed May 1, 2024
- Technical Analysis – Gold seeks safety after Tuesday’s drop May 1, 2024
- Technical Analysis – USDJPY stabilizes a tad below 160.00 May 1, 2024
- Video market update for April 30, 2024 April 30, 2024
- Analysis of the EUR/USD pair on April 30, 2024 April 30, 2024
- Analysis of the GBP/USD pair on April 30th. Last chance for the dollar April 30, 2024
- GBP/USD: Simple trading tips for novice traders for April 30th (US session) April 30, 2024
- EUR/USD: Simple trading tips for novice traders for April 30th (US session) April 30, 2024
- GBP/USD: trading plan for the US session on April 30th (analysis of morning deals). The pound is kept within the side channel April 30, 2024
- Could Monday’s intervention turn the tide for the yen? – Special Report April 30, 2024
- EUR/USD: trading plan for the US session on April 30th (analysis of morning deals). The euro is trying to end the month on April 30, 2024
- Trading Signals for Bitcoin (BTC/USD) for April 30 – May 7, 2024: sell below $62,500 (21 SMA – 4/8 Murray) April 30, 2024
- Trading Signals for Ethereum (ETH/USD) for April 30 – May 7, 2024: sell below $3,177 (21 SMA – 1/8 Murray) April 30, 2024
- Technical Analysis – Is US 100 setting course for new record highs? April 30, 2024
- EUR/USD. April 30th. Sellers await weak inflation data in the EU April 30, 2024
- GBP/USD. April 30th. Bulls continue to attack, but American reports could help the bears April 30, 2024
- Besides yen pairs, neutral volatility across the board ahead of Fed and NFP – Volatility Watch April 30, 2024
Daily
chart: The USDX is trying to take again the bullish trend which was missing forming for a couple of weeks. Now, the USDX is heading up to the 200-day
moving average, as this is making a breakout in the resistance level
of 80.62. However, if the USDX makes a bearish rebound at current
levels, it would be expected to fall to the level of 80.11. The MACD
indicator is still in negative territory.
H4 chart: The 200 SMA is
serving as the dynamic resistance on the USDX, so we must be prepared to any bearish rebound near this level. However, the USDX is
trying to consolidate above this level. If successful, it is expected
to rise to the resistance level of 80.83. The MACD indicator is in
positive territory, so the bullish consolidation is very possible.
H1 chart: The USDX has found
strong support on the level of 80.59 and now, this is trying to climb
to the 200-day moving average, which is close to the resistance level
of 80.73. If the USDX makes a breakout at that level, it would be
expected to rise to the level of 80.93. Furthermore, if the USDX
breaks the support level of 80.59, it’s expected to fall to the level
of 80.35 . The MACD indicator is in neutral territory.
Trading recommendations for today:
Based on the H1 chart, place
sell (short)
orders only if the USDX
Index breaks with
a bearish
candlestick; the
support
level is at 80.59,
take profit is at 80.35,
and stop loss is at 80.83.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: