For Traders

Analytical Reviews

Ichimoku Indicator

25.04.201710:09 Forex Analysis & Reviews: Ichimoku indicator analysis of USDX for April 25, 2017

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 Dollar index continues to trade above the 99-98.80 support area but the sideways consolidation in the short-term implies that more downside is expected. The downward move is not over but the risk reward does not favor bears.

Blue lines - bearish channel

Short-term support is at 98.80. Resistance is at 99.30-99.50. Price remains in a bearish trend below both the tenkan- and kijun-sen indicators. Price is expected to make new lows towards 98 before it reverses upwards. Short-term indicators are diverging.

Red line - resistance

Black line - support

Green line - long-term support trend line

The weekly candle is below both the tenkan- and kijun-sen but above the Kumo (cloud). Trend is bearish as long as price is below 101.30 and the longer-term trend is also in danger if price breaks below the Kumo. If price breaks below the green long-term trend line the chances for a bounce towards the red resistance trend line diminish.

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.