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    #USDX technical analysis for January 5, 2015

    The Dollar index has managed to reach my 91 target and has moved even higher with a new bullish flag pattern in the short-term that could push the index above 92. The trend remains bullish and dollar bulls continue to have the upper hand.

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    Blue trend line= support

    The Dollar index has formed another bullish flag that has broken upwards and has 92.20-92.30 as a target. The trend remains fully bullish with price above the Ichimoku cloud and I believe we should expect this uptrend to continue higher as long as price is above 89.80.

    usdxd.jpg

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    Red line = support

    The Dollar index in the weekly chart remains fully bullish. Our target has been reached. There is no sign of a trend reversal and I believe this uptrend could continue even higher. The best strategy for me is to raise my stops and ride the uptrend as long as it lasts and not look to guess a top. Ichimoku cloud support is found at 89.50 by the tenkan-sen. The Kijun-sen support is at 86. Technical support is at 87.50.

    Alexandros Yfantis neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door MT5.com portal. Als u zijn artikel goed vindt, stemt u dan op hem.

    Uitgevoerd door, Analytische expert
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