Dollar Index Outlook for September - ranging bullish: waiting for direction

Dollar Index Outlook for September - ranging bullish: waiting for direction

3 September 2015, 12:11
Sergey Golubev
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W1 price is on bullish market condition with ranging between the following key levels:

  • 98.33 key resistance level located far above Ichimoku cloud; if the price breaks this level from below to above so the bullish trend will be continuing up to 100.39 as the next bullish target.
  • 92.62 key support level located inside Ichimoku cloud below Senkou Span A line in the ranging bearish area of the chart; if the price breaks this level from above to below so we may see the reversal of the price movement to the primary bearish market condition with the secondary ranging and 90.53 as the next bearish target.

Chinkou Span line is above the price indicating the ranging condition by direction with good possibility to breakdown.

If W1 price will break 92.62 support level so we may see the reversal of the price movement to the primary bearish market condition with the secondary ranging and 90.53 as the next bearish target.
If W1 price will break 98.33 resistance level so the primary bullish trend will be continuing.
If not so the price will be ranging between the levels.

Trend:

W1 - ranging bullish
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