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    #USDX technical analysis for April 28, 2015

    The Dollar index has marginally broken below the H&S neckline and this is not a good sign. As long as the price is trading around this neckline, I will be cautious towards any direction (ahead of with the FOMC meeting coming on Wednesday).


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    Green line= H&S neckline

    The Dollar index is in the short-term bearish trend and the price remains below the Ichimoku cloud. All signs favor bearish positions. We could see a bounce towards the resistance at 97.50 or 97.80 but the overall trend remains bearish after the double top took place at 100.


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    Orange lines= bullish channel

    Another bearish signal is the weekly candles that have broken out of the upward sloping orange channel and below the tenkan-sen. This implies that the index could push towards the kijun-sen yellow ichimoku indicator at 93. New sell signal will be given if price breaks below 96.20

    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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