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    USDX technical analysis for February 11, 2016 2016-02-11

    The US dollar index remains in a short-term bearish trend and inside the downward sloping bearish channel. I expect this downward move to end soon so dollar bears should be very cautious and lower their protective stops as I see some strength coming over the next couple of weeks and a reversal of the current bearish sentiment.


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    Short-term resistance is found at 96.15-96.70. The price is below both the tenkan- and kijun-sen indicators and below the Ichimoku cloud in the 4-hour chart. A trend is bearish. Only a breakout above 96.70 could confirm a short-term bullish reversal.


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