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FX.co ★ Daily analysis of USDX for May 17, 2018

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Forex Analysis:::2018-05-16T19:11:56

Daily analysis of USDX for May 17, 2018

The index remains strong in the bullish side across the board, with a price action that still favors to an upside scenario for the short-term. The resistance level of 93.42 is now being challenged and a consolidation above that area should expose the 94.10 zone as the next key level. To the downside, the 200 SMA is the nearest dynamic support.

Daily analysis of USDX for May 17, 2018

H1 chart's resistance levels: 93.42 / 94.10

H1 chart's support levels: 92.33 / 91.86

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bearish candlestick; the support level is at 93.42, take profit is at 94.10 and stop loss is at 92.75.
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