logo

FX.co ★ USDX: Daily analysis for June 21, 2013

USDX: Daily analysis for June 21, 2013

Daily chart: The USDX consolidated above the resistance level at 81.50 and above the SMA 200. It is very possible that this is the beginning of a bullish trend in the medium-long term, due to this consolidation. It is very possible that the USDX will make very slow movements in today's session, because in smaller charts, it is forming lower high patterns to continue rising and reach the next target at the resistance level of 82.51. However, if the USDX breaks the support at the level of 81.50, it is expected to fall back to the level of 80.62. The MACD indicator is extremely oversold and is in positive territory.

USDX: Daily analysis for June 21, 2013

H4 chart: We must be very careful with the USDX for today's session, because it is quite possibly the USDX found strong resistance at the 200-day moving average near 82.15 level, where it formed a fractal. Now the USDX is forming a lower high pattern and if the USDX manages to break the resistance level of 82.25, it would be expected to rise to the level of 83.17. Furthermore, if the USDX achieves in breaking the support level of 81.72, it is expected to drop to the level of 81.33. The MACD indicator is in positive territory and currently is showing overbought signs.

USDX: Daily analysis for June 21, 2013

H1 chart: The USDX remains at a low range and has not made significant changes in the last few hours. However, the supports and resistances are very defined in this chart, to do a good intraday trading. If the USDX manages to break the resistance at the 81.80 level, it is expected to rise to the level of 82.02. Furthermore, if the USDX achieves in breaking the level of 81.58, it is expected to drop to the level of 81.40. The USDX remains above the 200-day moving average and the MACD indicator is in negative territory and still shows no signs of oversold at this chart, for the USDX.

USDX: Daily analysis for June 21, 2013

Trading recommendations for today: Based on the H4 chart, place sell (short) orders only if the USDX Index breaks with a bearish candlestick, the support level is at 81.72, take profit is at 81.33, and stop loss is at 82.12.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Open trading account