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Ichimoku Indicator

01.06.201709:18 Forex Analysis & Reviews: Ichimoku indicator analysis of USDX for June 1, 2017

Long-term review

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The Dollar index remains above support at 97. I continue to favor at least a short-term bounce towards 99. I'm not bearish at current levels and at least I prefer to be neutral.

Blue lines - trading range

The Dollar index is below the Kumo (cloud). Support is at 97. Resistance is at 97.30-97.40 and next at 97.70. I continue to expect a stronger bounce towards 99 but for that to happen we will need confirmation with a break above 97.70.

Red line - resistance

Green line - broken long-term support

The Dollar index is still trading on top of the weekly Kumo(cloud) support. This level should produce at least a short-term bounce before price moving lower. Maybe tomorrow's NFP report will be the trigger.

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