02.10.201509:54 Forex Analysis & Reviews: USDX technical analysis for October 2, 2015

Long-term review

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There is nothing new regarding the US dollar index as the market awaits the announcement of the Non-Farm Payrolls today. This piece of information will play a vital role for the direction the market will take from now on. The price remains above the short-term Ichimoku cloud, but also below previous highs resistance.

Red line - resistance

Green line - support

The US dollar index has formed a triangle pattern and we are currently below the upper boundary resistance at 96.60. With the NFP announcement today, it is advised to stay neutral until we have a clear signal. Will it be a breakout or a rejection, we do not know yet. But the safest way to trade it is to wait until the dust settles.

Red line - resistance

Green line - support

The weekly chart has nothing new for us. The price remains trapped inside the trading range of the bullish flag. We remain neutral waiting for a signal. Weekly resistance is at 97.50 and support is at 95.

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