The Dollar index has made a new higher high at 89.55 and remains in a strong uptrend since 79.75. The bullish flag target is 91 and although we could see a short-term pull back towards 89, I believe we can achieve this target by year end.
The Dollar index remains above the Ichimoku cloud support and continues to make higher highs and higher lows. The trend remains bullish. Short-term support is at 89 and after that at 88.50. The cloud suport is at 87.90 and as long as price is above that level I believe bulls will have nothing to fear. Currently, the index is near important short-term resistance and this justifies a pullback towards 89.
The Dollar index remains fully bullish in Ichimoku terms on the weekly chart. The weekly candles remain fully bullish and the bullish flag target is getting closer and closer. I remain bullish for the long-term but caution is advised one more time as I believe we are close to the end of the rise from 79.75. Weekly support is at 87.80 so bulls need to hold above that level no matter what.
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