The Dollar index has pulled back towards cloud support and towards our short-term pullback targets at 98-97.50. The Dollar index has reached the Ichimoku cloud support. The uptrend can resume from the current levels.
Red line = support
Green line = trend line resistance
Blue lines= target projection
The Dollar index has broken green trend-line resistance and is pulling back to test it. The price has reached the Ichimoku cloud support in the 4-hour chart and I believe that the uptrend could resume from the current levels.
Orange lines= bullish channel
The Dollar index remains inside the bullish channel. The weekly candle is showing some signs of a pause in the uptrend. Weekly support is at 97 and weekly resistance is at 102. The longer-term trend remains bullish. As long as we trade above 96, I would remain optimistic.
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