empty
 
 
20.04.2018 09:06 AM
Ichimoku cloud indicator analysis of USDX for April 20, 2018

The Dollar index is challenging the important short-term cloud resistance and upper cloud boundary at 90. If bulls manage to break above the cloud and stay above it, they will have made a first step towards trend reversal. Bears continue to remain under control of the trend but they will need to defend short-term resistance area 90-90.30 and the April high at 90.60.

This image is no longer relevant

Black line - important medium-term support

The reversal off the 89.30 area on Tuesday was an important bullish reversal pattern that fortunately for bulls has follow through. Price has broken initially above the tankan- and kijun-sen while now bulls try to break above the cloud. The most important resistance is the 90 level and the 90.60 high. Breaking above these levels will be constructive and will most probably push the index at least towards 91.70. Bears on the other hand want to see price break back below the cloud support at 89.70. As long as we hold above 89.70 I would not be bearish.

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 $8000 more!
    In March we raffle $8000 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