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    USDX technical analysis for February 10, 2016 2016-02-10

    The US dollar index hit new lows yesterday. Now it is trading inside a downward sloping channel. A trend is bearish as long as the price is below 97.50.

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    The US dollar index is below both the tenkan- and kijun-sen and the Ichimoku cloud. The rice is headed for lower lows and lower highs. It is inside the blue bearish channel with resistance at 96.75 and support at 96.55.

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    The weekly candle has entered the weekly cloud and has also broken below the kijun-sen. This is a bearish sign and in case of week closes below these indicators, we could expect more impulsive selling in coming weeks that could bring the index to the area of 91-92.


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