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FX.co ★ Daily analysis of USDX for October 27, 2017

Daily analysis of USDX for October 27, 2017

USDX has been favored in the last few hours by a fresh momentum above the 200 SMA, which also has been acting as a dynamic support in the short-term. The focus now shifts towards the 94.56 level, which coincides with a key level for sellers to appear. To the downside, the strong support still lies at the psychological zone of 93.00.

Daily analysis of USDX for October 27, 2017

H1 chart's resistance levels: 94.04 / 94.56

H1 chart's support levels: 93.00 / 91.67

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 94.04, take profit is at 94.56 and stop loss is at 93.52.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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