Ichimoku cloud indicator analysis of USDX for April 24, 2018

The Dollar index has broken above the Daily cloud resistance and above its February high. The Dollar index is breaking one by one the resistance levels and the obstacles that will bring the price closer to our first target for so long at 91.70. In our last analysis, we noted that we remain bullish as long as the price is above 89.50. This level has now been raised to 90.


Blue lines - trading range

The Dollar index has broken above the trading range and above the Daily cloud. This is a bullish sign. The price has been trading below the cloud since December if not since March of 2017, with a brief bounce. Will this bounce be a brief relief rally or a bigger upward move? I believe the latter. The first target is at 91.70 and the next one is at 94 where we find the lower boundary of the weekly Kumo (cloud).

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