Ichimoku indicator analysis of USDX for August 11, 2017


The Dollar index has not made any upside progress so far this week but remains in a short-term bullish mode and can give higher price levels next week.

The price is mainly moving sideways this week. Price remains above the 4hour cloud helping bulls being optimistic for a move higher. Resistance is at 93.80-94. Support is at 93.20.


On a weekly basis, the price is below both the tenkan- and kijun-sen. The trend is bearish. A bounce has started and is expected to push price towards at least the 95-96 level where we find the tenkan-sen (Red line indicator). The weekly close of this week is important regarding the validity of the bullish reversal hammer candle pattern we saw last week.The material has been provided by InstaForex Company – www.instaforex.com

Source:: Ichimoku indicator analysis of USDX for August 11, 2017

About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Leave a Reply