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07.09.2015 09:39 AM
USDX technical analysis for September 7, 2015

The US Dollar Index remains in a short-term trend as the price continues to hold above the short-term support indicators. However, an inability to make a strong upward move after the new short-term high is a bearish sign.

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Green line - resistance

The US Dollar Index is in a bullish short-term trend as the price is moving towards higher highs and higher lows above the Ichimoku cloud. However, we need to break above the green trend-line resistance in order to help bulls hold control of the trend.

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Red line - resistance

Green line - support

The US Dollar Index did not manage to break above the kijun-sen resistance. Bulls need to see a weekly close above it in order to gaim momentum to test the resistance trend line. Otherwise, we will get a strong rejection soon that will push the price towards the weekly cloud support at 94.50. The more time passes the less possible is a move lower towards 92. That is why my pullback target is at 94.50.

Summary
Urgency
Analytic
Alexandros Yfantis
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