Ichimoku indicator analysis of USDX for October 9, 2017
October 9, 2017 10:16 am
The Dollar index is showing reversal signs of the daily Ichimoku cloud resistance at 94. Price remains inside the bearish channel however we do not have a confirmation that a new downward move has started.
Black lines – bullish channel
Red lines – bearish divergence signs
The Dollar index continues to trade above the 4-hour Kumo (cloud) support. Trend remains bullish as price is making higher highs and higher lows. However there are several warning signs justifying a full-scale reversal. Both RSI are diverging. Price has broken below the bullish channel. Price is at important resistance.
Black lines – bearish channel
On a weekly basis price remains inside the bearish channel. Price has reached the upper channel boundary and is showing signs of rejection. However only a break below 93 would confirm the bigger reversal in prices. My view is that we will see that reversal materialize.
The material has been provided by InstaForex Company – www.instaforex.com
The Dollar index is showing reversal signs of the daily Ichimoku cloud resistance at 94. Price remains inside the bearish channel however we do not have a confirmation that a new downward move has started.
Black lines – bullish channel
Red lines – bearish divergence signs
The Dollar index continues to trade above the 4-hour Kumo (cloud) support. Trend remains bullish as price is making higher highs and higher lows. However there are several warning signs justifying a full-scale reversal. Both RSI are diverging. Price has broken below the bullish channel. Price is at important resistance.
Black lines – bearish channel
On a weekly basis price remains inside the bearish channel. Price has reached the upper channel boundary and is showing signs of rejection. However only a break below 93 would confirm the bigger reversal in prices. My view is that we will see that reversal materialize.
The material has been provided by InstaForex Company – www.instaforex.com
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