logo

FX.co ★ USDX: Daily analysis for October 03, 2013

USDX: Daily analysis for October 03, 2013

Daily chart: Finally, the USDX managed to break the support at the 80.11 level and now it is very likely that the USDX will fall to the level of 79.19 in the medium term. It is also likely that the USDX has a lateralized fall, due to strong weakness presented by the USDX within the recent days due to the economic decisions, taken in the United States. However, if the USDX manages to break the resistance level of 80.11, it would be expected to rise to the level of 80.62. The MACD indicator is entering extremely oversold zone and is in neutral territory.

USDX: Daily analysis for October 03, 2013

H4 chart: The USDX continues to strengthen its current bearish trend and now, the USDX is trying to break the bearish trendline near the 79.55 level. If this succeeds, it would be expected to fall to the level of 78.35 in the medium term. On the other hand, if the USDX manages to break the resistance at the 80.06 level, it would be expected to rise again to the resistance level at 80.50. The MACD indicator remains in negative territory and the USDX remains below the 200-day moving average.

USDX: Daily analysis for October 03, 2013

H1 chart: The USDX has consolidated below the resistance level at 80.15 and now, the USDX is trying to break the support at the level of 79.88, with the formation of a higher low pattern. If this succeeds, it is expected to fall to the level of 79.64. On the other hand, if the USDX makes a bullish rebound at current levels, it would be expected to rise to the level of 80.15. The MACD indicator is in extreme oversold zone and in neutral territory.

USDX: Daily analysis for October 03, 2013

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USDX Index breaks a bearish candlestick; the support level is at 79.64, take profit is at 79.39, and stop loss is at 79.90.

*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