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    #USDX technical analysis for April 21, 2015

    The Dollar index broke the short-term downward sloping channel yesterday and gave a short-term buy signal. The price is moving higher and a new higher low has confirmed that trend remains bullish despite the big price swings. Important resistance at 99.20 with targets ta new highs will give a buy signal if gets broken


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    Orange lines= bearish channel

    The Dollar index has broken the bearish channel and is back inside the Ichimoku cloud in the 4-hour chart. If it manages to break above 99.20 where the top of the cloud resistance is found, we should expect more buying pressures on the upside towards 101.


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    Green line= broken resistance

    The Dollar index is trying to break above the Ichimoku cloud resistance. It has broken the green trend-line resistance and has also tested it back successfully. The Dollar index made a new higher low and if we see a new higher high I would expect explosive upside move towards 103.

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

    Uitgevoerd door, Analytische expert
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