18.07.201408:33 Forex Analysis & Reviews: #USDX Technical analysis for July 18, 2014

Long-term review

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The Dollar index remains in a bullish trend. Price is making higher highs and higher lows. The Dollar index is making a bullish flag and once it breaks above 80.60 I expect the upward move to reach 80.80-81.

The Ichimoku cloud is below the price supporting it. 80.25 and 80.15 are support levels and should hold for the up trend to remain valid. A pull back towards these two support levels should be bought and as long as price is above 80 we should prefer long positions.

The daily trend remains bullish. Price is above the Ichimoku cloud and I expect to see another move higher towards at least 80.85-81 where the previous top is. The intermediate-term trend is bullish and as long as the daily chart is above 80 we remain bullish.

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