The Dollar index continues to slide lower and is in a neutral short-term trend now. Long-term trend remains bullish as long as the price is above 96. We get a new buy signal above 98.66 that could push the index to its recent highs.
The Dollar index is back inside the Ichimoku cloud in the H4 chart and this means that there is no clear trend and we are in a neutral trend. Support is at 97 and resistance is at 98.66. Short-term resistance is at 98.30. If it gets broken, we would get the first short-term reversal sign. On the other hand, a break below 97 is going to be a bearish signal that could put recent lows to the test.
The weekly chart remains inside the upward sloping channel. The long-term trend remains bullish. Weekly chart remains above tenkan-sen. This weeks high is important resistance for bulls that must break immediate continuation of the uptrend.
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Uitgevoerd door, Analytische expert
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