empty
 
 
15.12.2017 10:13 AM
Ichimoku cloud indicator analysis of USDX for December 15, 2017

The Dollar index pulled back towards our short-term target and Ichimoku cloud support. Price is bouncing after the post FOMC decline. There are a lot of chances that the pullback is over and a new leg upwards has already started.

This image is no longer relevant

Black lines - wedge pattern

Black rectangle - target area

Red rectangle - support area (broken)

The Dollar index reached the black rectangle target area after price broke out of the upward sloping wedge and the red rectangle support. Price has found support at the 4-hour Kumo. Resistance is at 93.75 and next at 94.15 where we got rejected during the FOMC on Wednesday. Support is at 93-93.30.

This image is no longer relevant

The Dollar index got rejected at the weekly kijun-sen (yellow line indicator). A break above this week's high will be a bullish sign confirming my view that the Dollar index is heading towards 96-97. Support is 92.50-93 area. A break below that level will be very bearish for the index.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback