Dollar Index Intra-Day Technical Analysis - bullish reversal or bearish to be resumed?

Dollar Index Intra-Day Technical Analysis - bullish reversal or bearish to be resumed?

23 August 2016, 07:20
Sergey Golubev
2
82

H4 price is on ranging condition located below Ichimoku cloud in the bearish area of the chart. The price is within the following support/resistance levels:

  • 94.96 resistance level located near Senkou Span line of Ichimoku indicator in the beginning of the bullish trend to be started, and
  • 94.08 support level located below Ichimoku cloud in the bearish area of the chart.

AllAbsolute Strength indicator is estimating the bearish trend to be continuing with the secondary ranging way.

Resistance
Support
94.9694.08
95.66N/A

If H4 price breaks 94.08 support level on close H4 bar so the primary bearish trend will be resumed.
If H4 price breaks 94.96 resistance level so the reversal of the intraday price movement to the primary bullish market condition will be started.
If not so the price will be ranging within the levels.

SUMMARY : bearish

TREND : ranging
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