Ichimoku cloud indicator analysis of USDX for April 30, 2018

The US dollar index remains in a bullish trend. Our target of 91.70 has been achieved. The price made a high on Friday at 91.99. Important resistance is found at 92. The RSI is providing a bearish divergence sign. As I said on Friday, I prefer to take profits as I’m expecting a strong pullback, if not a major top, to be formed around 92.

Black lines – triangle

Blue lines – bearish divergence

The US dollar index is making higher highs and higher lows. Support is at 91.35 and next at 90.60. The trend is bullish as long as the price is above 90.50-90.60 where the 4-hour cloud is found. A break below the cloud will be a bearish confirmation of the RSI divergence.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Ichimoku cloud indicator analysis of USDX for April 30, 2018