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23.02.2018 02:17 AM
Daily analysis of USDX for February 23, 2018

The index had a bearish session on Thursday and it's expected to test the 200 SMA anytime soon. The support zone of 89.36 still holds across the board and we forecast a possible breakout below that area in order that USDX plummets toward the 87.88 level. MACD indicator is supporting the aforementioned bearish idea, as it stays in the negative territory.

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H1 chart's resistance levels: 90.63 / 91.75

H1 chart's support levels: 89.36 / 87.88

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 89.36, take profit is at 87.88 and stop loss is at 90.81.

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