empty
 
 
30.05.2017 09:07 AM
Ichimoku indicator analysis of USDX for May 30, 2017

The Dollar index is showing reversal signs. This is not the time to be bearish on the Dollar. I expect a strong bounce higher in the Dollar index where we will get a better opportunity to sell the Dollar.

This image is no longer relevant

Blue lines - trading range

The Dollar index has broken the trading range upwards. Price is inside the 4-hour Kumo. Trend has changed to neutral from bearish for the short term. Resistance is at 98.35. Support is at 97.28.

This image is no longer relevant

Red line - resistance

Green line - long-term support trend line (broken)

The Dollar index is bouncing off the weekly Kumo (cloud). This is the time for the Dollar to bounce. The Dollar is expected to move towards 99 or even higher. I'm bullish on the Dollar at current levels for at least a short-term bounce.

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