The Dollar Index Is Expected To Get Rejected At The Ichimoku Cloud

Alexandros Yfantis • Mar 31, 2017 at 5:49 AM EDT

The Dollar index is expected to get rejected at the Ichimoku cloud and reverse. EUR/USD is expected to hold above the cloud and bounce strongly upwards above 1.08-1.09 over the coming weeks.

Good day to all, back again with our 2nd weekly view on major forex pairs and the Dollar index. After a short-term bullish reversal in the Dollar index, I believe we are close to another trend reversal. The Dollar is close to completing the bounce off 98.84 and is expected to push lower towards 97-96 over the coming weeks. This means strength in EURUSD mainly.

(Click on image to enlarge)

The Dollar index is expected to get rejected at the Ichimoku cloud and reverse. EURUSD is expected to hold above the cloud and bounce strongly upwards above 1.08-1.09 over the coming weeks.

(Click on image to enlarge)

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