USDX: Ichimoku indicators analysis
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY |
| Entry Point | 103.86 |
| Take Profit | 104.82 |
| Stop Loss | 103.33 |
| Key Levels | 102.83, 104.32, 104.82, 103.33 |
Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument has entered the cloud. One of the previous minimums of Chikou Span line is expected to be a support level (102.83). The closest resistance level is Tenkan-sen line (104.32).
On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is descending. The instrument has been corrected to the Tenkan-sen line. One of the previous minimums of Chikou Span line is expected to be a support level (104.82). The closest resistance level is Tenkan-sen line (103.33).
On the four-hour chart the instrument is trading within the cloud. On the daily chart the Bullish trend is still strong. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (104.82) line and Stop Loss at the level of Kijun-sen line (103.33).
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