Ichimoku cloud indicator analysis of USDX for March 27, 2018

The Dollar index as expected has made a new lower low below 89. Trend remains bearish. The Dollar index remains under pressure and could see below 88 over the coming weeks. As long as price is below 90.30 trend will remain bearish.

Red lines – trading range

The Dollar index has broken below and out of the recent trading range it was in. Price is below the Ichimoku cloud and as we said in our last analysis, trend is bearish and we expect new lows as long as price stays below the Kumo (cloud). Support is now at 88.25 and resistance at 89.30.

On a Daily basis the Dollar index remains in a bearish trend. Price got rejected by the Daily Kumo and closed below the kijun-sen as we warned yesterday. Price made new lower lows and I expect the February lows to be broken as long as price is below the Ichimoku cloud.

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Source:: Ichimoku cloud indicator analysis of USDX for March 27, 2018