The index is still in sideways mode around the key handle of 100.00,
but there are no clear signs of a possible bottom placed, as the US
Dollar remains fundamentally weak amid Trump’s prospects about US
economy. If USDX does a breakout below that area, further declines
are expected toward the 98.98 level. MACD indicator is favoring that
scenario within the negative territory.
H1 chart’s resistance
levels: 101.43 / 102.39
H1 chart’s support levels:
100.01 / 98.98
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
100.01,
take profit is at
98.98
and stop loss is at 101.03.
The material has been provided by InstaForex Company – www.instaforex.com
The post Daily analysis of USDX for January 26, 2017 appeared first on forex-analytics.press.