Ichimoku cloud indicator analysis of USDX for April 6, 2018
April 6, 2018 5:22 am
The Dollar index is in a bullish short-term momentum after breaking above the short-term resistance trend line. In Ichimoku cloud terms, the trend is bullish and will remain so as long as the price is above 89.85.
On a weekly basis, the trend remains bearish. However, the price has managed to close last week above the tankan-sen and this implies we could see a push higher towards the kijun-sen around 91.70. Support is at 89.80 and bulls need to remain above it no matter what. Otherwise, we could witness another sell-off.
The material has been provided by InstaForex Company – www.instaforex.com
The Dollar index is in a bullish short-term momentum after breaking above the short-term resistance trend line. In Ichimoku cloud terms, the trend is bullish and will remain so as long as the price is above 89.85.
On a weekly basis, the trend remains bearish. However, the price has managed to close last week above the tankan-sen and this implies we could see a push higher towards the kijun-sen around 91.70. Support is at 89.80 and bulls need to remain above it no matter what. Otherwise, we could witness another sell-off.
The material has been provided by InstaForex Company – www.instaforex.com
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