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    #USDX technical analysis for April 9, 2015

    The Dollar index has managed to close the gap from Monday and is testing important short-term resistance levels at 98.20-98.50 now. A weekly close above this resistance area will enable the US dollar to strengthen to follow over the coming weeks with possible target at 100 and higher.

    usdx.jpg

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    Green line = resistance

    Red line = support

    The Dollar index has moved above the Ichimoku cloud and above the green trend-line resistance. This is a good sign for bulls. Support at 96 was early held this week after the gap down and bears are in a difficult position now. Short-term support is found at 97.20. Short-term resistance is at 98.20 and 98.50.

    usdxd.jpg

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    Orange lines= upward sloping channel

    The Dollar index remains inside the upward sloping channel. The price got above the tenkan-sen. The trend remains bullish. As long as the price holds above 97 on the weekly chart, things will remain bullish for the longer-term. The weekly candle is bullish for now.

    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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