USDX technical analysis for October 22, 2015 Market Analysis Review

The US dollar index is showing some short-term reversal signs to the upside but the longer-term view remains neutral as price remains trapped inside the trading range of a weekly bullish flag and inside the weekly cloud.

Red line - resistance

Blue lines - bullish channel

The US dollar index is inside a bullish short-term target and breaking above the 4-hour chart Ichimoku cloud. The price is moving in a short-term bullish trend targeting the medium-term resistance at the red trend line. An important resistance area is seen between 95.50 and 95.60.

Green line - support

Red line - resistance

The weekly candle is trying to break above the Ichimoku cloud. A close above it will be a bullish sign that will most probably push the index towards the red weekly resistance level. The longer-term trend remains neutral as the price remains inside the bullish flag.

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