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FX.co ★ Daily analysis of USDX for February 12, 2018

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Forex Analysis:::2018-02-12T04:11:15

Daily analysis of USDX for February 12, 2018

The last chance for the bulls to resume the bullish bias in the index lies at the 90.63 level, where a breakout should open the doors to visit the 91.75 zone. However, we're still following the bearish idea, as the level of 89.36 remains as a critical area across the board and if it gives up, then the next target would be the 87.88 level.

Daily analysis of USDX for February 12, 2018

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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