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Ichimoku Indicator

20.03.201809:39 Forex Analysis & Reviews: Ichimoku cloud indicator analysis of USDX for March 20, 2018

Long-term review

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The Dollar index is trading in a positively sloped channel but price has slipped again below the 4-hour Ichimoku cloud. Pressure on the Dollar remains strong.

Blue lines - bullish channel

The Dollar index trading around the 4-hour cloud. There is no clear trend so far but price continues to make higher lows but not higher highs. Bulls to strengthen their position in the market will need to hold above 89.57 and break above 90.37.

On a daily basis, the Dollar index got rejected once again at the Daily Kumo resistance. This is a bearish sign. Bulls will need to get back inside the Kumo this week. Important daily support is at the kijun-sen (yellow line indicator) at 89.59. A daily close below it and bears will be back in control and could push the index back towards low 89 or below it.

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