The US Dollar Index is still in a bullish trend inside the upward sloping channel. My short-term view is bullish as long as the price is above 96.50. I believe we should expect one more new high at least before a larger pullback.
Black lines = bullish channel
The US Dollar Index is above the cloud support and inside the bullish channel. Support is at 97 and the next one is seen at 96.50 by the cloud. I believe we are near today's lows. So, I prefer open long positions at current levels with stops near support line at 96.50 or near 96.80 for short-term traders.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.