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Ichimoku Indicator

17.04.201808:53 Forex Analysis & Reviews: Ichimoku cloud indicator analysis of USDX for April 17, 2018

Long-term review

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The Dollar index is challenging important trend line support. The trend remains bearish as price got rejected at the Ichimoku cloud and at the 90 resistance level. Bulls have not managed to break above resistance and the consequence was for more weakness to push price lower.

The price is below the Ichimoku cloud. Clear bearish trend. Support is being tested now at 89.30. Resistance is at 89.60 and next and most important at 90. Bulls need to step in now and break above 90 in order to avoid another bearish move towards 88.

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