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#USDX technical analysis for March 9, 2015

The Dollar index made a new higher high on Friday and has approached even closer to our short-term target at 98. Our longer-term target remains at 100-101. The Dollar index is showing some signs of a possible pull back towards 97 but longer-term trend remains clearly bullish.

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Purple line= support

The Dollar index is above the Ichimoku cloud and above a short-term support of the tenkan-sen at 97.06. The kijun-sen support is at 96.45. Resistance is at recent highs of 97.85. The short-term trend remains bullish as long as the price is above the purple trend line support.

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The monthly chart of the Dollar index puts us back into perspective regarding our longer-term target of 100-101. Price has broken the 50% retracement and is heading towards the 61.8% retracement. Trend remains fully bullish.

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
InstaForex Group © 2007-2015


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