Daily chart: The USDX remains no clear trend in the medium-long term, which is dangerous if we put some sell orders now though because the USDX remains below the 200 SMA, this is very close to this important dynamic level and above the support level of 80.62. Hence, we should expect any breakout on the above levels, such as 80.62 and 81.50. The MACD indicator is still in negative territory.
H4 chart: The USDX is maintained within the range between 80.94 and 80.49 levels. These levels have been quite strong in this chart, also because the USDX is moving between 200 SMA, which adds some uncertainty regarding the USDX trend. It seems that the USDX could resume the bullish trend but this is not yet final because the USDX is trying to consolidate below the 200 SMA. The MACD indicator is still in negative territory.
H1 chart: The USDX unable to consolidate above the 200 SMA and it seems that it wants to start building a road bearish in this chart because the USDX is again trying to break the support level of 80.59. If successful, it is expected to fall to the level of 80.35. On the other hand, we should be alert to a possible breakout in the level of 80.73. The MACD indicator is entering neutral territory.
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 80.59, take profit is at 80.35, and stop loss is at 80.83.
