Daily analysis of USDX for January 24, 2018

USDX is moving in a decisive stage, as it remains supported by the 90.20 level across the board and that should give a hint that the index could start a new trend. However, as long as the greenback remains under pressure below the 200 SMA, we might expect further declines towards the 89.36 level. MACD indicator is reaching the neutral territory.


H1 chart's resistance levels: 91.75 / 92.57

H1 chart's support levels: 90.59 / 89.36

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 90.59, take profit is at 89.36 and stop loss is at 91.81.

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