Ichimoku cloud indicator analysis of USDX for April 4, 2018

The Dollar index is breaking above resistance. The price is above the Ichimoku cloud. The price has consolidated sideways for a couple of days and is now breaking resistance levels.

Red line – resistance

Short-term trend is bullish as the price is above the Ichimoku cloud. The price has broken trend line support. Resistance is at 90.45 where we find the previous high. Support is at 89.90-89.80 where we find the kijun-sen and the Kumo (cloud).

Weekly candles are promising as the price is above the tankan-sen. Support is at 89.60. Resistance and target are at the weekly kijun-sen at 91.70. As long as weekly candles are above the tankan-sen we should expect the price to move higher.

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

Source:: Ichimoku cloud indicator analysis of USDX for April 4, 2018