InstaForex - Analytics


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    USDX technical analysis for September 2, 2015

    The US Dollar Index has made a small pullback but the dollar remains strong. A possible bullish flag pattern is formed also in the short-term so bears should be very cautious. A breakout above 96.20 will confirm the 98 as the first target.


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    Green line - support

    We can see a bullish flag pattern in the weekly chart as well but the price remains below the kijun-sen resistance (yellow line indicator). This could mean that a pull back towards the recent lows or the Ichimoku cloud is more probable than a breakout now. A break above the red trend-line resistance will give me a huge bullish signal with new highs as target.

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