US Dollar Index Technical View
On the daily time-frame of the technical view, it could be observed that the downtrend is still strong and that there is a thick Kumo. Furthermore, we can see that there is strong resistance. On the contrary, the price crossed the Tekan Sen and Kijun Sen lines, as well as, the Chickou span in the price.
We may see that a reversal price found resistance on the Tekan Sen line and started heading down. However, these elements could be an indication of an early potential reversal, given that we break out of the Kumo to the upside.
The chart below shows how this opportunity could be potentially used, provided that the price breaks the Kijun Sen and the Tekan Sen lines, and forms a bearish down formation.
Everything posted herein is the Personal Opinion of the Author(s) and does not represent a statement made by TeleTrade. TeleTrade is providing this for informational purposes.
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