Ichimoku cloud indicator analysis of USDX for March 23, 2018
March 23, 2018 4:24 pm
The Dollar index is trading below the 4-hour Kumo. Despite some strength signs by the Dollar index yesterday, price got rejected at the Ichimoku cloud and short- and medium-term trend remain bearish.
Short-term resistance is at 89.90. Price reached the 4-hour Kumo (cloud) but got rejected. Price is expected to move lower. Support is at yesterday lows. A break below them would accelerate the move lower.
Daily candles remains below the daily Kumo and are challenging the daily kijun-sen. Price has yet to close below the kijun-sen. Once we see a daily close below the kijun-sen, we should then expect more selling pressures to push price towards 89 and lower.
The material has been provided by InstaForex Company – www.instaforex.com
The Dollar index is trading below the 4-hour Kumo. Despite some strength signs by the Dollar index yesterday, price got rejected at the Ichimoku cloud and short- and medium-term trend remain bearish.
Short-term resistance is at 89.90. Price reached the 4-hour Kumo (cloud) but got rejected. Price is expected to move lower. Support is at yesterday lows. A break below them would accelerate the move lower.
Daily candles remains below the daily Kumo and are challenging the daily kijun-sen. Price has yet to close below the kijun-sen. Once we see a daily close below the kijun-sen, we should then expect more selling pressures to push price towards 89 and lower.
The material has been provided by InstaForex Company – www.instaforex.com
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