Ichimoku indicator analysis of USDX for June 19, 2017
June 19, 2017 7:17 am
The Dollar index pulled back towards short-term cloud support and is bouncing. As I have been saying for the last few sessions while the index is around 96.50-97 I remain bullish for a bounce towards 98.50-99. After the bounce we will look to sell again.
Red line – resistance
Blue line – support
The Dollar index pulled back towards cloud support in the 4-hour chart. Only a break above 97.50 will confirm that the long-awaited bounce is starting. The Dollar index has been mainly moving sideways since mid-May. Trend is neutral.
Blue lines – bearish channel
Red line – short-term resistance
The Dollar index has most probably made a short-term low a couple of days ago. Price is showing reversal signs and I still expect the Dollar index to move towards the daily Kumo (cloud) at 98.50-99 area. I remain short-term bullish about the US dollar.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
The Dollar index pulled back towards short-term cloud support and is bouncing. As I have been saying for the last few sessions while the index is around 96.50-97 I remain bullish for a bounce towards 98.50-99. After the bounce we will look to sell again.
Red line – resistance
Blue line – support
The Dollar index pulled back towards cloud support in the 4-hour chart. Only a break above 97.50 will confirm that the long-awaited bounce is starting. The Dollar index has been mainly moving sideways since mid-May. Trend is neutral.
Blue lines – bearish channel
Red line – short-term resistance
The Dollar index has most probably made a short-term low a couple of days ago. Price is showing reversal signs and I still expect the Dollar index to move towards the daily Kumo (cloud) at 98.50-99 area. I remain short-term bullish about the US dollar.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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