For Traders

Analytical Reviews

Ichimoku Indicator

23.08.201709:16 Forex Analysis & Reviews: Ichimoku indicator analysis of USDX for August 23, 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 broke below the cloud and the channel yesterday but right away we saw a bounce that is back testing the broken support and is trying to mark the breakdown as a false one.

Red lines - bullish channel (broken)

The dollar index is trying to move back above the 4 hour Kumo and inside the bullish channel. This bounce is corrective and we should expect a rejection soon to turn the price lower. The support is found at 93.30 and resistance lies at 93.70.

On a daily basis the dollar index is trying to break above the tenkan-sen. We are in the daily resistance area. I expect a rejection here. The dollar index is likely to break towards 91 over the coming weeks.

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.