The Dollar index makes a small pull back but the overall trend remains fully bullish. There is no sign of a major trend reversal and there is no indication that we could have reached the end of the upward move.
Red line = resistance
Green line s= price channel
The Dollar index remains inside the upward sloping channel and above the previously broken resistance at 84.80. A pull back to back test the break out at 85 is very possible but I believe this would be a buying opportunity. The trend remains up. Price remains above the Ichimoku cloud.
Red line = resistance
Blue line= support
The longer-term trend remains fully bullish. The parabolic rise does not give many opportunities to enter long but it is very dangerous going against trend and shorting this index. I prefer to wait for a pull back towards 85-85.10 to enter long than go short. This up trend is very strong and I would not bet against it specially now that we have broken above the long-term important resistance of 85.
The material has been provided by InstaForex Company – www.instaforex.com
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The post #USDX Technical analysis for September 26, 2014 appeared first on FX FOREX.
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