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    #USDX technical analysis for February 18, 2015

    The dollar index remains inside the triangle pattern consolidation; and traders should be very patient before deciding what to do. The best strategy is to wait for a break of the triangle boundaries before opening a position.

    usdx.jpg

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    Green line = resistance

    Blue line = support

    The Dollar index continues to trade within the trading range of 95.25 and 93.40. The trend is neutral. There is no clear direction for the trend. I prefer to stay neutral and wait for a break out above or below the boundaries of the trading range before opening a position.

    usdxd.jpg

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    Black lines = triangle pattern

    The dollar index, as shown on the daily chart above, remains inside the triangle pattern. The price is above the kijun-sen but below the tenkan-sen. The triangle pattern is important and traders should follow the market once a breakout is made. Until then I prefer to stay neutral.

    Alexandros Yfantis neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door MT5.com portal. Als u zijn artikel goed vindt, stemt u dan op hem.

    Uitgevoerd door, Analytische expert
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