Forex Price Action – More Upside for the USDINX? | Sept. 25th

Although the USD has enjoyed some gains for the last week or two, I am not really buying the overall correction.   At least not yet.  To be fair, the USD got hammered after topping mid-July at 84.00, especially in the first two weeks of September where it ended with some exhaustive selling.  And though the bounce has shown some decent buying interest with two inverted pin bars, the overall price action structure appears corrective so I’m looking to sell.

I’ll consider selling just north of here at 80.00 which is the big figure and dynamic resistance on the daily chart.  I’ll also consider selling just above at 80.17 which is a key role reversal level with tight stops above. The only thing which would make me both short and medium term bullish would be a move above 80.50. Until then, I’ll look to sell just below these levels.

corrective price action usdinx sept 25th

For those wanting to learn price action trading, get access to the traders forum, lifetime membership & more, visit my forex price action course page here.

Global Market Commentary:
US markets took it on the chin today as the S&P dropped the most in 2mos and the Dow lost over 101pts. Concerns over a Spanish bailout are ever so alive and protests in Spain are growing louder with over 50% of the youth unemployed.  Don’t forget Greece which has over 1/3 of its Athens businesses closed.

The USD gained broadly across the majors with Gold and Crude selling off over a $1 each on the day.

Upcoming Economic Announcements:

NZD Balance (YTD) (New Zealand dollars) 18.45EST
EUR German Consumer Price Index (YoY) 08.00EST
USD New Home Sales 10.00EST

Make sure to check out my newest articles:
Setups, Price Action & Context
Price Action Angles – Trading Forex Price Action
Daily and 4hr Price Action Strategies

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

Related Article

  • DV

    I have been long for over a week, and I also agree with you, but I have targets already set at 80.50 and 81.50ish, at the last target I will be looking to stop and reverse short… based on daily key resistance and weekly 10,20 emas

    Entry was based on harmonic patterns and price action, on Ice futures DX continuous contract which looks slightly different than above (taken out prior lows..)

    With ~80% US Dollar index made up of Euro, Gbp and Jpy and all either at resistance or correcting lower and the increasing risk of jpy intervention on usdjpy. Also gold, silver, Indices at key resistance levels I think there is still a bit of upside potential left on

    Beaut post thanks again!


  • TasosK

    Hi Chris,

    Although I do not trade USDINX your price action analysis provides valuable insight on the way one should read and trade the charts.

    Kind regards,


    • As always, glad it helps. Trading the USDINX is like trading the USD vs. the Euro, GBP and JPY, so very much like trading a major.
      Definitely a good instrument as it has some technical smoothness to it so something to consider.

      Kind Regards,