The technical view on dollar index seems to be bearish. The price appears below the Kumo, the lines Tekan Sen, and Kijun Sen appear to be out of the Kumo too. However, there are some clues which could be interpreted as signs of a potential reversal.
The lines Kijun Sen and Tekan Sen seem to be in a bullish formation, and the Chikou Span appears to be in the price. It could be noticed the potential formation of a triple bottom. In order to be able to spot a potential bullish signal, we could go to the 1H time frame and wait for a confirmed Kumo break out above.
In accordance with the Ichimoku system, this pair seems to be bullish. It could be noticed that the cloud appears to be aggressively up and the price seems to be above the cloud. Nevertheless, we may notice whether the Tekan Sen and Kijun Sen are moving towards a potential bullish formation and if the Chikou Span is out of the price. Moreover, we could go to lower time frames, such as 1H, and wait for a confirmed Kumo break out signal above.
Following the Ichimoku approach, this pair seems to present a downtrend. The cloud seems to be aggressively down, the price appears out of the cloud, the lines Tekan Sen and Kijun Sen seem to be in bear formation, and Chikou Span appears out of the price. It could be noticed that the price is on the Tekan Sen. Moreover, if the Kumo breaks out in the 1H time frame, then we could have a potential bear signal.
Disclaimer: Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and education purposes. Personal Opinion of the Author does not represent and should not be construed as a statement or an investment advice made by TeleTrade. All Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
Risk Warning: Investment services are provided by TeleTrade-DJ International Consulting Ltd, a Cyprus Investment Firm under reg. number HE272810 operating in accordance with MiFID, under license 158/11 by the Cyprus Securities and Exchange Commission. Trading in leveraged derivative financial instruments carries a high level of risk and may not be suitable for all investors. Past performance is not a reliable indicator of future results. Indiscriminate reliance on informational or historical materials may lead to losses.
© 2000-2022. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at firstname.lastname@example.org.