25.06.201808:53 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on USDX for June 25, 2018.

Long-term review

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The Dollar index has given a short-term reversal signal. Medium-term trend remains bullish. For the trend to change the index will need to break below the cloud support at 94.15.

Red line - support

The Dollar index is trading below both the tenkan- and kijun-sen indicators. However, the price has stopped the decline right on top of the 4 hour Kumo (cloud) support. As long as the price is above the Kumo (cloud) support at 94.50-94.15 trend will remain bullish in the 4hour chart. Next big support is at the red trend line at 93.85. Resistance is at 95. So far bulls remain in control and we only have a short-term reversal signal. We need a confirmation for this reversal with a break below 94 otherwise we could continue higher towards 95.70.

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