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Ichimoku Indicator

25.09.201709:08 Forex Analysis & Reviews: Ichimoku indicator analysis of USDX for September 25, 2017

Long-term review

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The Dollar index made a bullish reversal on Friday and held above cloud and trend line support. This price action justifies continuation of the upward bounce as long as price is above 91.80.

Blue line - resistance trend line (broken)

The Dollar index broke above the trend line and the 4-hour Kumo (cloud). It pulled back to back test the breakout area and is now bouncing higher. Bulls need to see a higher high above 92.70 to be more confident of the bullish short-term trend. Support is at 92-91.70 area.

Red lines - bearish channel

The Dollar index remains inside the daily bearish channel and below the daily Kumo (cloud). Price is now trading above the kijun-sen. A daily close above it will open the way for a move higher towards 93-94.

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