Dollar Index is trading at the level of 88.33. DXY is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Dollar Index. The test area of Ichimoku Kinko Hyo signal lines near the level of 88.75 is expected, from which one should expect a rebound attempt and the development of the bearish trend for DXY with a target to reducing near the level of 87.55. An additional signal in favor of the fall is the resistance level test.
Dollar Index forecast & analysis DXY on February 19, 2018
Earlier, we received a weak signal for sell of DXY, due to the crossing of signal lines at the level of 90.05. The cancellation of the drop in the quotations of the Dollar Index will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 89.85, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes DXY stands with the breakdown of the support area and the closing below the level of 88.10.
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