For Traders

Analytical Reviews

Ichimoku Indicator

28.04.201709:30 Forex Analysis & Reviews: Ichimoku indicator analysis of USDX for April 28, 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 US dollar index remains inside the bearish channel and I expect the price to move lower today and get rejected at the channel resistance. However, I would not bet on the downside as I believe it is limited.

Blue lines - bearish channel

The dollar index is showing rejection signs at the upper channel boundary. A new low is expected to be seen today before the upward reversal. The short-term resistance lies at 99.35. Support is found at 98.80 and the next one at 98.

Red lines - resistance trend line

Green line -long-term trend line support

Black line - support trend line

The dollar index remains stuck right on top of the junction of the two important support trend lines for the third day in a row. We may see a false breakout below the trend lines today but overall I believe there are a lot of chances of a bullish reversal. I prefer to wait without opening a position. When I see a reversal signal, I will go long.

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.