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Ichimoku Indicator

26.03.201808:54 Forex Analysis & Reviews: Ichimoku cloud indicator analysis of USDX for March 26, 2018

Long-term review

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The Dollar index as expected made a new lower low as trend remains bearish in short- and medium-term trend. As long as price is below 90, I still foresee any bounce in the index as selling opportunity for a move below 88.

Red lines - triangle pattern

The Dollar index is trading below the Ichimoku cloud. Support is at 89.30 while resistance is at 89.90-90. Bulls will need at least for the short-term trend to change, to break above 90 and hold above it. On the other hand, Dollar bears remain in control as long as price is below 90. Breaking below 89.30 will signal that we are heading even lower towards next support/target at 88.60.

On a daily basis, the Dollar index closed below the kijun-sen last week and remains below the Daily Kumo (cloud). This is still a very bearish picture. As long as price is below the Kumo, I will be expecting the Dollar index to break below 88.

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