Ichimoku indication analysis of USDX for September 21, 2017 888011000 110888 The Dollar index surged the other day after the FOMC. Price is evaluating weekly resistance levels at 92.50. Far we consider this upward bounce as a corrective play in a larger down pattern. The Dollar index has broken out of the Ichimoku cloud in the 4-hour chart. This is a bullish indication. The Dollar index is however diverging.A pullback to cloud support at 92.10-92 is warranted. Bulls will then need to hold above assistance. Otherwise we will see this breakout as a fake one. On a weekly basis, the Dollar index is testing the weekly tenkan-sen resistance( red line sign ). Rate stays in bearish trend. The rest of this week and the next will be essential for the medium-term move which the index will make. A rejection here will open the way for brand-new lows listed below 90. Extension of Dollar strength will open the way for a larger bounce towards 96. The material has been supplied by InstaForexCompany-www.instaforex.com

By | September 21, 2017

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