For Traders

Analytical Reviews

Technical analysis

02.09.201509:43 Forex Analysis & Reviews: USDX technical analysis for September 2, 2015

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The US Dollar Index has made a small pullback but the dollar remains strong. A possible bullish flag pattern is formed also in the short-term so bears should be very cautious. A breakout above 96.20 will confirm the 98 as the first target.

The Dollar index is trading above the Ichimoku cloud in the four chart and is forming a bullish flag. Flag breakout will happen if price breaks above 96.20 and this will target at least 98. A break below the Ichimoku cloud support at 94.80 will decrease dramatically the chances of the pattern.

Red line- resistance

Green line - support

We can see a bullish flag pattern in the weekly chart as well but the price remains below the kijun-sen resistance (yellow line indicator). This could mean that a pull back towards the recent lows or the Ichimoku cloud is more probable than a breakout now. A break above the red trend-line resistance will give me a huge bullish signal with new highs as target.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.