10.03.201510:56 Forex Analysis & Reviews: #USDX technical analysis for March 10, 2015

Long-term review

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The US Dollar index continues its strong uptrend making another new high. The trend remains bullish. The price is making higher highs and higher lows. 100-101 is the next target that I have given some time ago.

Orange lines = upward sloping channel

The US Dollar index is inside the orange upward sloping channel. The price is above the tenkan-sen and the kijun-sen. The ichimoku cloud is below the price and the Chikou span is pointing higher too. The chart is fully bullish for the short- to medium-term. Next target is 99 while our longer-term target for some time now is at 100-101.

The monthly chart is fully bullish moving towards the 61.8% retracement after breaking above the 50% retracement. 100-101 is our next target for some time now as I remain long. Daily support is found at 97 and daily resistance at 100-101.

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