09.11.201510:32 Forex Analysis & Reviews: USDX technical analysis for November 9, 2015

Long-term review

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The US dollar index has been moving in a strong uptrend since November 2 when it tested support at 96,75 and broke to new highs on November 4. A weekly bullish flag pattern was broken upwards.

Red line - support

Blue line - support

The US dollar index is above the Ichimoku cloud heading towards higher highs and higher lows. Support is found at 98.10-97,95. Resistance is seen at 100-100.20. A trend remains bullish.

Red line -weekly resistance

The weekly chart remains fully bullish after the breakout above the bullish flag. The price is above the long-term cloud providing us with a long-term bullish signal. Pullbacks towards the broken trend-line support should be seen as buying opportunities with stops at 93.80.

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