InstaForex InstaForex

Forex Analysis: 21 Apr 2017, 05:14 UTC+00

Ichimoku indicator analysis of USDX for April 21, 2017

Ichimoku indicator analysis of USDX for April 21, 2017

The Dollar index remains in a bearish trend. Price is heading towards 99 where critical medium-term support is found. Only a break above 100.80 could change short-term trend to bullish again.

analytics58f9b0747fde0.png

Show full picture

Red line - resistance

The Dollar index is trading below the 4-hour Kumo which implies trend is bearish. Price is showing rejection signs at the red trend line resistance and at the 4-hour kijun-sen (yellow line indicator). Short-term support is at the tenkan-sen (red line indicator) at 99.60.

analytics58f9b0e0574bb.png

Show full picture

Red line - resistance

Black line -support

Green line - long-term support

The Dollar index is still inside the triangle pattern in the weekly chart. Price is testing weekly kijun-sen support. A weekly close below it will open the way for a push towards 99 and why not a break below the green and black trend line for a push at least towards the weekly cloud support at 96-97.Only a break above the red trend line will revive the bullish hopes for new highs towards 110.


alexandros_yfantis
Performed by
analytical expert: Alexandros Yfantis
InstaForex Group © 2007-2017
 Published: 21 Apr 2017, 05:14 UTC+00

 
Recommend: Forex Analytics
 
USD/CHF profit target reached perfectly, prepare to buy on major support
17 Aug 2017, 05:57 UTC+00   
Views today 2212
AUD/JPY testing major resistance, remain bearish
17 Aug 2017, 05:54 UTC+00   
Views today 2167
USD/JPY dropping perfectly towards profit target, remain bearish while...
17 Aug 2017, 05:58 UTC+00   
Views today 2166
AUD/USD approaching major resistance, prepare to sell
17 Aug 2017, 05:53 UTC+00   
Views today 2140
EUR/JPY forming a nice reversal pattern, remain bearish
17 Aug 2017, 05:55 UTC+00   
Views today 2092



Start trading with
no risks and investments
With new Start-Up Bonus of $1000
Get bonus
55%
from InstaForex
on every deposit